CASH 2017 Annual Report

129 The Company also has a profit sharing plan covering substantially all full-time employees. Contribution expense to the profit sharing plan, included in compensation and benefits, for the years ended September 30, 2017, 2016 and 2015 was $1.61 million, $1.26 million and $1.10 million, respectively. NOTE 11. SHARE-BASED COMPENSATION PLANS The Company maintains the 2002 Omnibus Incentive Plan, as amended and restated, which, among other things, provides for the awarding of stock options and nonvested (restricted) shares to certain officers and directors of the Company. Awards are granted by the Compensation Committee of the Board of Directors based on the performance of the award recipients or other relevant factors. The following table shows the effect to income, net of tax benefits, of share-based expense recorded in the years ended September 30, 2017, 2017 and 2016. Year Ended September 30, 2017 2016 2015 (Dollars in Thousands) Total employee stock-based compensation expense recognized in income, net of tax effects of $3,907, $192, and $66, respectively $ 6,486 $ 559 $ 334 As of September 30, 2017, stock-based compensation expense not yet recognized in income totaled $16.9 million, which is expected to be recognized over a weighted-average remaining period of 4.08 years. At grant date, the fair value of options awarded to recipients is estimated using a Black-Scholes valuation model. The exercise price of stock options equals the fair market value of the underlying stock at the date of grant. Options are issued for 10- year periods with 100% vesting generally occurring either at grant date or over a four-year period. No options were granted during the years ended September 30, 2017, 2016 or 2015. The intrinsic value of options exercised during the years ended September 30, 2017, 2016 and 2015 were $1.8 million, $1.5 million and $0.9 million, respectively. Shares have previously been granted each year to executives and senior leadershipmembers under the applicableCompany incentive plan. These shares vest at various times ranging from immediately to four years based on circumstances at time of grant. The fair value is determined based on the fair market value of the Company’s stock on the grant date. Director shares are issued to the Company’s directors, and these shares vest immediately. The total fair value of director’s shares granted during the years ended September 30, 2017, 2016 and 2015 was $0.5 million, $0.2 million and $0.1 million, respectively. In addition to the Company’s 2002 Omnibus Incentive Plan, the Company also maintains the 1995 Stock Option and Incentive Plan. No new options were, or could have been, awarded under the 1995 plan during the year ended September 30, 2017; however, previously awarded options were exercised under this plan during the year ended September 30, 2017. In addition, during the first and second quarters of fiscal 2017, shares were granted to certain named executive officers (“NEOs”) of the Company in connection with their signing of employment agreements with the Company. These stock awards vest in equal installments over eight years. The following tables show the activity of options and share awards (including shares of restricted stock subject to vesting and fully-vested restricted stock) granted, exercised or forfeited under all of the Company’s option and incentive plans during the years ended September 30, 2017 and 2016.