Note 11 - Stock-based Compensation

6 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

(11) Stock-Based Compensation

Stock Option Activity Summary

The Company’s stock option activity for the six months ended December 31, 2023 is as follows:

	Shares			Weighted Average Exercise Price
Outstanding at June 30, 2023		38,166		$	27.34
Granted		116,790			10.16
Exercised		—			—
Canceled or expired		(46	)		138.06
Outstanding at December 31, 2023		154,910		$	14.36

The aggregate intrinsic value of options exercisable at December 31, 2023 was $0, as the fair value of the Company’s common stock is less than the exercise prices of these options. The remaining stock-based compensation expense of $1.3 million related to stock options will be recognized over a weighted-average period of 2.44 years.  The aggregate intrinsic value of options exercisable at December 31, 2023 was $0 as the fair value of the Company’s common stock is less than the exercise prices of these options. The aggregate intrinsic value of all options outstanding at December 31, 2023 was $0.

The table below details the Company’s stock options outstanding as of December 31, 2023:

Range of exercise prices		Number Outstanding		Options Outstanding Weighted-Average Remaining Contractual Life (Years)		Weighted-Average Exercise Price		Number Exercisable		Options Exercisable Weighted-Average Exercise Price
$	10.10 - 19.20		152,285		9.43	$	11.99		10,934	$	18.54
$	55.50 - 84.90		418		4.87		61.52		418		61.52
$	159.00 - 175.50		2,207		3.36		168.97		2,207		168.97
$	10.10 - 175.50		154,910		9.33	$	14.36		13,559	$	44.35

Compensation costs recognized related to stock option awards were $148 thousand and $48 thousand for each of the three months ended December 31, 2023 and 2022, respectively.  Compensation costs recognized related to stock option awards were $204 thousand and $94 thousand for each of the six months ended December 31, 2023 and 2022, respectively.

Restricted Stock

The Company’s restricted stock activity for the six months ended December 31, 2023, is as follows:

	Shares	Weighted Average Grant Date Fair Value
Outstanding at June 30, 2023	50,671	$	33.43
Granted	20,000		10.10
Vested	—		—
Canceled or expired	—		—
Outstanding at December 31, 2023	70,671	$	26.83

Stock compensation expenses related to restricted stock were $325 thousand and $356 thousand for the three months ended December 31, 2023 and 2022, respectively. Stock compensation expenses related to restricted stock were $633 thousand and $697 thousand for the six months ended December 31, 2023 and 2022, respectively.  The remaining stock-based compensation expense of $915 thousand related to restricted stock awards granted will be recognized over a weighted-average period of 2.23 years.