Quarterly report pursuant to Section 13 or 15(d)

Share Based Payments (Tables)

v2.4.0.8
Share Based Payments (Tables)
9 Months Ended
Jun. 30, 2013
Share-Based Payments [Abstract]  
Restricted stock activity
The transactions for restricted stock for the nine months ended June 30, 2013 were as follows:

 
 
 
 
 
Weighted-
 
 
 
 
 
 
average
 
 
 
 
 
 
grant-date
 
 
 
Shares
 
 
fair value
 
Non-vested at September 30, 2012
 
 
551,389
 
 
$
32.56
 
Granted
 
 
236,500
 
 
 
25.22
 
Vested
 
 
(99,226
)
 
 
35.95
 
Expired or forfeited
 
 
(44,006
)
 
 
30.83
 
Non-vested at June 30, 2013
 
 
644,657
 
 
 
29.46
 
 
Stock option activity
The transactions for shares underlying options for the nine months ended June 30, 2013 were as follows:

 
 
 
 
 
 
 
 
Weighted-
 
 
 
 
 
 
 
 
 
Weighted-
 
 
average
 
 
Aggregate
 
 
 
 
 
 
average
 
 
remaining
 
 
intrinsic
 
 
 
Shares
 
 
exercise price
 
 
contractual term
 
 
value
 
Outstanding, September 30, 2012
 
 
840,282
 
 
$
37.15
 
 
 
 
 
 
 
Granted
 
 
-
 
 
 
-
 
 
 
 
 
 
 
Exercised
 
 
(37,874
)
 
 
25.44
 
 
 
 
 
 
 
Expired or forfeited
 
 
(56,067
)
 
 
37.10
 
 
 
 
 
 
 
Outstanding, June 30, 2013
 
 
746,341
 
 
 
37.75
 
 
 
2.4
 
 
 
-
 
Exercisable, June 30, 2013
 
 
414,170
 
 
 
36.93
 
 
 
2.2
 
 
 
-
 

Non-vested options activity
The transactions for non-vested options for the nine months ended June 30, 2013 were as follows:

 
 
 
 
 
Weighted-average
 
 
 
 
 
 
grant-date
 
 
 
Shares
 
 
fair value
 
Non-vested at September 30, 2012
 
 
355,872
 
 
$
11.35
 
Granted
 
 
-
 
 
 
-
 
Vested
 
 
-
 
 
 
-
 
Expired or forfeited
 
 
(23,701
)
 
 
12.16
 
Non-vested at June 30, 2013
 
 
332,171
 
 
 
11.29
 

Assumptions used in estimating fair value
The fair value of each restricted stock grant is estimated on the date of grant using a binomial lattice valuation model.  The following table indicates the assumptions used in estimating fair value of restricted stock for the nine months ended June 30, 2013 and 2012.

 
Nine Months Ended June 30,
 
2013
 
2012
Expected volatility
29.5%
 
30.4%
Dividend yield
1.2%
 
1.0%
Average risk free interest rate
0.6%
 
0.9%
Average expected term (years)
2.0   
 
2.0