Note 10. Stock Compensation Plan

6 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments

Stock Compensation Plan

The Company maintains a stock compensation plan, the Kimball Electronics, Inc. 2014 Stock Option and Incentive Plan (the “Plan”), which allows for the issuance of up to 4.5 million shares and may be awarded in the form of incentive stock options, stock appreciation rights, restricted shares, unrestricted shares, restricted share units, or performance shares and performance units. The Plan is a ten-year plan with no further awards allowed to be made under the Plan after October 1, 2024. For more information on our Plan, refer to our Annual Report on Form 10-K for the year ended June 30, 2015.

During the first six months of fiscal year 2016, the following stock compensation was awarded under the Plan to non-employee members of the Company’s Board of Directors.




Unrestricted Shares ⁽¹⁾	Quarter Awarded	Shares	Grant Date Fair Value
Unrestricted shares (director compensation)	2nd Quarter	47,262		$10.94

(1) Unrestricted shares which were awarded to non-employee members of the Company’s Board of Directors as compensation for the portion of director’s fees prescribed to be paid in unrestricted shares in addition to the portion of director’s fees to be paid in unrestricted shares as a result of directors’ elections to receive unrestricted shares in lieu of cash payment. Director’s fees are expensed over the period that directors earn the compensation. Unrestricted shares do not have vesting periods, holding periods, restrictions on sales, or other restrictions.