The 2011 Plan was designed to increase shareholder value by compensating employees over the long term. The plan is to be used to promote long-term financial success and execution of the Company’s business strategy. At the time of approval, 350,000 shares of Astrotech’s common stock were reserved for issuance under this plan. On June 26, 2014, an additional 400,000 shares of Astrotech’s common stock were approved for issuance under this plan. On December 7, 2017, an additional 225,000 shares of Astrotech’s common stock were approved for issuance under this plan. On December 7, 2018, an additional 537,197 shares of Astrotech’s common stock were approved for issuance under this plan. The 2011 Plan, administered by the Compensation Committee of the Board of Directors, provides for granting of incentive awards in the form of stock, stock options, stock appreciation rights, and restricted stock to employees, directors, and consultants of the Company. As of June 30, 2019, there were 611,182 shares available for grant under the 2011 Plan.

The Company’s stock option activity for the years ended June 30, 2019 and 2018 was as follows:

	Shares (In thousands)			Weighted Average Exercise Price
Outstanding at June 30, 2017		365		$	6.25
Granted		—			—
Exercised		—			—
Canceled or expired		(4	)		5.30
Outstanding at June 30, 2018		361		$	5.48
Granted		—			—
Exercised		(3	)		2.25
Canceled or expired		(34	)		3.51
Outstanding at June 30, 2019		324		$	5.71

The aggregate intrinsic value of options exercisable at June 30, 2019 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 June 30, 2019 was $0.

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
$2.83 – 3.55		70,500		2.98	$	3.39		70,500	$	3.39
$5.30 – 5.85		123,653		7.86		5.48		79,575		5.48
$6.00 – 8.35		130,000		5.40		7.19		86,000		6.59
$2.83 – 8.35		324,153		5.81	$	5.71		236,075	$	5.25

Compensation costs recognized related to vested stock option awards during the years ended June 30, 2019 and 2018 were $0.2 million and $0.3 million, respectively. At June 30, 2019, there was $0.1 million of total unrecognized compensation cost related to non-vested stock option awards, which is expected to be recognized over a weighted average period of 0.9 years.

The Company’s restricted stock activity for the years ended June 30, 2019 and 2018, was as follows:

	Shares (In thousands)			Weighted Average Grant-Date Fair Value
Outstanding at June 30, 2017		56		$	9.95
Granted		—			—
Exercised		(16	)		13.37
Canceled or expired		(12	)		8.35
Outstanding at June 30, 2018		28		$	10.16
Granted		209			3.40
Exercised		(4	)		8.86
Canceled or expired		(25	)		4.55
Outstanding at June 30, 2019		208		$	4.06

Compensation costs recognized related to vested restricted stock awards during the years ended June 30, 2019 and 2018 were $0.1 million and $0.2 million, respectively. At June 30, 2019, there was $0.5 million of unrecognized compensation cost related to restricted stock, which is expected to be recognized over a weighted average period of 2.5 years.

Stock-based compensation costs are generally based on the fair value calculated from the Black-Scholes model on the date of grant of stock options. The fair values of stock options are amortized as compensation expense on a straight-line basis over the vesting period of the grants. The Company recognizes forfeitures as they occur. The assumptions used for the years ended June 30, 2019 and 2018 and the resulting estimates of weighted-average fair value per share of options granted or modified are summarized in the following table:

	Year Ended June 30, 2019			Year Ended June 30, 2018
Expected Dividend Yield	—			—
Expected Volatility		100	%		113	%
Risk-Free Interest Rates		2.00	%		2.86	%
Expected Option Life (in years)		3.50			3.50
Weighted-average grant-date fair value of options awarded	$	3.01		$	2.83