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, 2013

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, 2011			1,191,657			$	2.74
Granted			17,000				5.59			$	4.12
Cancelled or Forfeited			(1,000	)			6.36
Exercised			(178,481	)			1.11
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

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 (years)		Weighted average exercise price
September 30, 2013			711,802		4.17		$	2.75
September 30, 2012			700,148		4.98		$	4.78

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 (years)		Weighted average exercise price				Aggregate intrinsic value
September 30, 2013			863,519		4.09		$	3.24			$	8,801,776
September 30, 2012			1,029,176		4.78		$	3.07			$	2,101,541

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

		Number of shares				Weighted average grant date fair value
Unvested shares at September 30, 2011			8,668			$	2.58
Granted			359,000				5.10
Vested			(4,332	)			2.58
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