STOCK INCENTIVE PLAN (Tables)

12 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions

The assumptions used in the Black-Scholes option pricing model to value the options granted were as follows:

Fiscal Year Ended

September 30, 2025

September 30, 2024

September 30, 2023

Expected dividend yield (a)

n/a

—

Expected volatility

n/a

Range of risk-free interest rates

n/a

3.92%

Range of expected option lives

n/a

6 years

(a) No options were issued in fiscal 2024 and fiscal 2025.

The assumptions used in the Monte-Carlo method to value the performance share awards granted during the fiscal year ended September 30, 2025 were as follows:


	September 30, 2025		September 30, 2024		September 30, 2023
Expected dividend yield	—	%	—	%	—	%
Expected volatility	46	%	47	%	68%
Risk free interest rates	4.21	%	4.77	%	4.15	%
Expected life	3 years		3 years		3 years
Fair value	$114.57		$162.15		$121.52

Schedule of Stock Option Activity

Stock option activity for the period September 30, 2022 to September 30, 2025 was as follows:


	Shares (in thousands)	Weighted-Average Exercise Price		Weighted-Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)		Weighted-Average Remaining Contractual Term (in years)
Outstanding as of September 30, 2022	713	$	26.00	$	13.29	$	38,062	5.22
Granted	51	$	101.66	$	54.06
Exercised	(74)	$	13.26	$	9.56	$	9,201
Forfeited	—	—
Outstanding as of September 30, 2023	690	$	32.93	$	16.69	$	80,152	9.75
Granted	—	$	—	$	—
Exercised	(253)	$	18.46	$	10.78	$	33,270
Forfeited	(12)	103.67
Outstanding as of September 30, 2024	425	$	39.59	$	19.23	$	20,584	11.52
Granted	—	$	—	$	—
Exercised	(13)	$	11.18	$	8.44	$	888
Forfeited	—	$	—
Outstanding as of September 30, 2025	412	$	40.46	$	19.56	$	12,238	10.84
Exercisable as of September 30, 2025	397	$	38.17			$	12,238	8.47

Schedule of Nonvested Share Activity

Changes to the Company’s nonvested RSU awards for the year ended September 30, 2025 were as follows:


	Shares (in thousands)	Weighted-average grant-date fair value
Nonvested as of September 30, 2022	262	$	58.72
Granted	138	102.71
Vested	(144)	47.43
Forfeited	(10)	84.89
Nonvested as of September 30, 2023	246	$	86.16
Granted	157	127.99
Vested	(134)	72.62
Forfeited	(30)	115.57
Dividends	1	118.89
Nonvested as of September 30, 2024	240	$	117.81
Granted	251	84.08
Vested	(123)	114.49
Forfeited	(33)	104.39
Dividends	7	96.60
Nonvested as of September 30, 2025	342	$	95.14

Changes to the Company’s non-vested PSU awards for the year ended September 30, 2025 were as follows:


	Shares (in thousands)	Weighted-average grant-date fair value
Nonvested as of September 30, 2022	313	$	48.19
Granted	69	110.71
Vested	(190)	39.94
Adjustment for achieved performance upon issuance	83	39.31
Forfeited	(1)	31.67
Nonvested as of September 30, 2023	273	$	67.02
Granted	67	151.18
Vested	(269)	31.39
Added by Dividends	1	126.08
Adjustment for achieved performance upon issuance	117	31.02
Forfeited	(24)	125.08
Nonvested as of September 30, 2024	165	$	126.17
Granted	114	105.02
Vested	(60)	109.22
Added by Dividends	4	118.30
Adjustment for achieved performance upon issuance	24	105.94
Forfeited	(17)	118.00
Nonvested as of September 30, 2025	230	$	118.44

Atkore Inc. 10-K