Clearfield, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note C - Shareholders' Equity (Tables)

Note C - Shareholders' Equity (Tables)

12 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

		2012
Expected volatility			82	%
Expected life (in years)			6
Expected dividends			0	%
Risk-free interest rate			.90	%
Weighted-average grant-date fair value		$	4.12

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

		Number of shares				Weighted average exercise price				Weighted average fair value
Outstanding at September 30, 2012			1,029,176			$	3.07
Granted			-				-				-
Cancelled or Forfeited			(9,600	)			5.77
Exercised			(156,057	)			1.97
Outstanding at September 30, 2013			863,519			$	3.24
Granted			-				-				-
Cancelled or Forfeited			(2,450	)			4.43
Exercised			(488,018	)			1.94
Outstanding at September 30, 2014			373,051			$	4.93

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]

Year ended		Exercisable				Weighted average remaining contractual life (in years)		Weighted average exercise price
September 30, 2014			313,851			2.63		$	4.67
September 30, 2013			711,802			4.17		$	2.75

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]

Year Ended		Number outstanding				Weighted average remaining contractual life (in years)		Weighted average exercise price				Aggregate intrinsic value
September 30, 2014			373,051			2.52		$	4.93			$	2,908,849
September 30, 2013			863,519			4.09		$	3.24			$	8,801,776

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

		Number of shares				Weighted average grant date fair value
Unvested shares at September 30, 2012			363,336			$	5.07
Granted			9,090				5.50
Vested			(75,136	)			4.95
Forfeited			(5,000	)			5.10
Unvested shares at September 30, 2013			292,290				5.11
Granted			307,615				13.39
Vested			(79,390	)			5.15
Forfeited			(2,000	)			5.10
Unvested shares at September 30, 2014			518,515			$	10.02