Pay vs Performance Disclosure - USD ($)
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12 Months Ended |
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2021 |
Pay vs Performance Disclosure [Table] |
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Pay vs Performance [Table Text Block] |
PAY VERSUS PERFORMANCE
In accordance with rules adopted by the Securities and Exchange
Commission (SEC), we prepared the analysis set forth below regarding “compensation actually paid” (“CAP”) for our principal executive officer (“PEO”) and non-PEO NEOs and Company performance for the fiscal years listed below.
The SEC defined CAP data set forth in the table below does not
reflect amounts actually realized by our NEOs. A significant portion of the CAP amounts shown relate to changes in values of unvested awards over the course of the fiscal year. These unvested awards remain subject to significant risk from
forfeiture conditions and possible future declines in value based upon changes in our stock price. The actual values realized by our NEOs from unvested equity awards, if any, will not be determined until the awards fully vest.
2023
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$2,922,261
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$9,644,940
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$1,084,655
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$3,097,161
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$379.86
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$151.67
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$54.5
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$71.1
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2022
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$2,277,914
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$2,073,440
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$820,511
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$766,145
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$94.30
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$111.63
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$13.7
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$18.9
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2021
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$2,382,478
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$2,495,939
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$870,642
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$904,637
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$105.59
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$135.75
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$0.6
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$11.4
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Note: (1)
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Brett A. Cope
was our PEO for each of the fiscal years presented above.
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(2)
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To calculate Compensation Actually Paid (“CAP”) for the PEO, the following adjustments were made to the SCT total in accordance
with SEC methodology for determining CAP for each year shown:
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Summary Compensation Table Total (“SCT”) Compensation
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$2,922,261
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$2,277,914
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$2,382,478
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Less: Stock Award Values Reported in SCT for the Covered Fiscal Year
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$(922,684)
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$(780,312)
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$(780,160)
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Plus: Year-End Fair Value for Stock Awards Granted in Covered Fiscal Year
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$2,998,244
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$552,760
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$666,942
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Plus: Year-End Fair Value of Awards Granted and Vested in
Covered Fiscal Year
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$599,616
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$110,552
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$133,378
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Change in Fair Value of Outstanding Unvested Stock Awards from
Prior Fiscal Years
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$1,282,112
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$(80,000)
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$8,400
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Change in Fair Value of Stock Awards from Prior Years that
Vested in Covered Fiscal Year
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$2,621,796
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$(51,364)
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$13,285
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Plus: Dividend Equivalents Earned During Applicable Fiscal Year
Upon Vesting
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$143,595
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$43,890
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$71,616
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Compensation Actually Paid
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$9,644,940
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$2,073,440
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$2,495,939
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(3)
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To calculate Compensation Actually Paid (“CAP”) for the Non-PEO NEO, the following adjustments were made to the SCT total in
accordance with SEC methodology for determining CAP for each year shown:
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Average Compensation Table Total (“SCT”) Compensation
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$1,084,655
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$820,511
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$870,642
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Less: Average Stock Award Values Reported in SCT for the
Covered Fiscal Year
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$(323,152)
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$(207,583)
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$(207,230)
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Plus: Average Year-End Fair Value for Stock Awards Granted in
Covered Fiscal Year
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$1,119,150
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$147,045
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$177,158
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Plus: Average Year-End Fair Value of Awards Granted and Vested
in Covered Fiscal Year
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$140,930
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$29,413
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$35,427
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Average Change in Fair Value of Outstanding Unvested Stock
Awards from Prior Fiscal Years
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$341,054
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$(21,249)
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$2,268
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Average Change in Fair Value of Stock Awards from Prior Years
that Vested in Covered Fiscal Year
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$696,563
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$(13,780)
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$4,138
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Plus: Average Dividend Equivalents Earned During Applicable
Fiscal Year Upon Vesting
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$37,961
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$11,788
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$22,234
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Average Compensation Actually Paid
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$3,097,161
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$766,145
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$904,637
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(4)
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The comparison of total shareholder returns assumes that $100 was invested September 30, 2020 and that dividends were reinvested
when paid.
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(5)
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The peer group used in this disclosure is the Proxy Peer group.
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(6)
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We have determined that EBITDA is the financial measure that, in our assessment, represents the most important performance
measure (that is not otherwise required to be disclosed in the table) used to link compensation actually paid to our NEOs for the most recently completed fiscal year, to Company performance.
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Company Selected Measure Name |
EBITDA
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Named Executive Officers, Footnote [Text Block] |
Note: (1)
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Brett A. Cope
was our PEO for each of the fiscal years presented above.
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Peer Group Issuers, Footnote [Text Block] |
(5)
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The peer group used in this disclosure is the Proxy Peer group.
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PEO Total Compensation Amount |
$ 2,922,261
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$ 2,277,914
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$ 2,382,478
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PEO Actually Paid Compensation Amount |
$ 9,644,940
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2,073,440
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2,495,939
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Adjustment To PEO Compensation, Footnote [Text Block] |
(2)
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To calculate Compensation Actually Paid (“CAP”) for the PEO, the following adjustments were made to the SCT total in accordance
with SEC methodology for determining CAP for each year shown:
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Summary Compensation Table Total (“SCT”) Compensation
|
|
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$2,922,261
|
|
|
$2,277,914
|
|
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$2,382,478
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Less: Stock Award Values Reported in SCT for the Covered Fiscal Year
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$(922,684)
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$(780,312)
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$(780,160)
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Plus: Year-End Fair Value for Stock Awards Granted in Covered Fiscal Year
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$2,998,244
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$552,760
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$666,942
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Plus: Year-End Fair Value of Awards Granted and Vested in
Covered Fiscal Year
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$599,616
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$110,552
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$133,378
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Change in Fair Value of Outstanding Unvested Stock Awards from
Prior Fiscal Years
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$1,282,112
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$(80,000)
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$8,400
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Change in Fair Value of Stock Awards from Prior Years that
Vested in Covered Fiscal Year
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$2,621,796
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$(51,364)
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$13,285
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Plus: Dividend Equivalents Earned During Applicable Fiscal Year
Upon Vesting
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$143,595
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$43,890
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$71,616
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Compensation Actually Paid
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$9,644,940
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$2,073,440
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$2,495,939
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Non-PEO NEO Average Total Compensation Amount |
$ 1,084,655
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820,511
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870,642
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Non-PEO NEO Average Compensation Actually Paid Amount |
$ 3,097,161
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766,145
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904,637
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Adjustment to Non-PEO NEO Compensation Footnote [Text Block] |
(3)
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To calculate Compensation Actually Paid (“CAP”) for the Non-PEO NEO, the following adjustments were made to the SCT total in
accordance with SEC methodology for determining CAP for each year shown:
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Average Compensation Table Total (“SCT”) Compensation
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$1,084,655
|
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$820,511
|
|
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$870,642
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Less: Average Stock Award Values Reported in SCT for the
Covered Fiscal Year
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|
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$(323,152)
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|
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$(207,583)
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$(207,230)
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Plus: Average Year-End Fair Value for Stock Awards Granted in
Covered Fiscal Year
|
|
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$1,119,150
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|
|
$147,045
|
|
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$177,158
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Plus: Average Year-End Fair Value of Awards Granted and Vested
in Covered Fiscal Year
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$140,930
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$29,413
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$35,427
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Average Change in Fair Value of Outstanding Unvested Stock
Awards from Prior Fiscal Years
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$341,054
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$(21,249)
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$2,268
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Average Change in Fair Value of Stock Awards from Prior Years
that Vested in Covered Fiscal Year
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$696,563
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$(13,780)
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$4,138
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Plus: Average Dividend Equivalents Earned During Applicable
Fiscal Year Upon Vesting
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$37,961
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$11,788
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$22,234
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Average Compensation Actually Paid
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$3,097,161
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$766,145
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$904,637
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Compensation Actually Paid vs. Total Shareholder Return [Text Block] |
The following graph illustrates the relationship of Compensation
Actually Paid (CAP) for our PEO and average CAP for our Non-PEO NEOs in relationship to the Company's three year cumulative TSR versus our Proxy Peer group as well as the IShares Russell 2000 Index.
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Compensation Actually Paid vs. Net Income [Text Block] |
The following graph illustrates the relationship of Compensation
Actually Paid (CAP) for our PEO and average CAP for our Non-PEO NEOs versus the Company's Net Income.
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Compensation Actually Paid vs. Company Selected Measure [Text Block] |
The following graph illustrates the relationship of Compensation
Actually Paid (CAP) for our PEO and average CAP for our Non-PEO NEOs versus the Company's selected measure, EBITDA.
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Total Shareholder Return Vs Peer Group [Text Block] |
The following graph illustrates the relationship of Compensation
Actually Paid (CAP) for our PEO and average CAP for our Non-PEO NEOs in relationship to the Company's three year cumulative TSR versus our Proxy Peer group as well as the IShares Russell 2000 Index.
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Tabular List [Table Text Block] |
The most important Financial Performance measures used by the
Company to link Compensation Actually Paid to Company Performance for the most recently completed fiscal year for PEO and Non-PEO NEOs, as described in greater detail in the CD&A section of this Proxy Statement, are as follows:
(ii)
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Working Capital (% of Revenue)
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Total Shareholder Return Amount |
$ 379.86
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94.3
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105.59
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Peer Group Total Shareholder Return Amount |
151.67
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111.63
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135.75
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Net Income (Loss) |
$ 54,500,000
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$ 13,700,000
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$ 600,000
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Company Selected Measure Amount |
71,100,000
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18,900,000
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11,400,000
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PEO Name |
Brett A. Cope
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Brett A. Cope
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Brett A. Cope
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Measure [Axis]: 1 |
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Pay vs Performance Disclosure [Table] |
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Measure Name |
EBITDA
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Measure [Axis]: 2 |
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Pay vs Performance Disclosure [Table] |
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Measure Name |
Working Capital (% of Revenue)
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Measure [Axis]: 3 |
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Pay vs Performance Disclosure [Table] |
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Measure Name |
Net Income
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PEO [Member] | Stock Award Values Reported in SCT for the Covered Fiscal Year [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
$ (922,684)
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$ (780,312)
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$ (780,160)
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PEO [Member] | Year-End Fair Value for Stock Awards Granted in Covered Fiscal Year [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
2,998,244
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552,760
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666,942
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PEO [Member] | Year-End Fair Value of Awards Granted and Vested in Covered Fiscal Year [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
599,616
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110,552
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133,378
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PEO [Member] | Change in Fair Value of Outstanding Unvested Stock Awards from Prior Fiscal Years [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
1,282,112
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(80,000)
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8,400
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PEO [Member] | Change in Fair Value of Stock Awards from Prior Years that Vested in Covered Fiscal Year [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
2,621,796
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(51,364)
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13,285
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PEO [Member] | Dividend Equivalents Earned During Applicable Fiscal Year Upon Vesting [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
143,595
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43,890
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71,616
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Non-PEO NEO [Member] | Stock Award Values Reported in SCT for the Covered Fiscal Year [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
(323,152)
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(207,583)
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(207,230)
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Non-PEO NEO [Member] | Year-End Fair Value for Stock Awards Granted in Covered Fiscal Year [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
1,119,150
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147,045
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177,158
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Non-PEO NEO [Member] | Year-End Fair Value of Awards Granted and Vested in Covered Fiscal Year [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
140,930
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29,413
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35,427
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Non-PEO NEO [Member] | Change in Fair Value of Outstanding Unvested Stock Awards from Prior Fiscal Years [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
341,054
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(21,249)
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2,268
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Non-PEO NEO [Member] | Change in Fair Value of Stock Awards from Prior Years that Vested in Covered Fiscal Year [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
696,563
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(13,780)
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4,138
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Non-PEO NEO [Member] | Dividend Equivalents Earned During Applicable Fiscal Year Upon Vesting [Member] |
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Pay vs Performance Disclosure [Table] |
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Adjustment to Compensation Amount |
$ 37,961
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$ 11,788
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$ 22,234
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