The 2015 Incentive Award Plan (“2015 Plan”) provides for the grant of stock options, including incentive stock options, and nonqualified stock options (“NSOs”), restricted stock, dividend equivalents, stock payments, restricted stock units, restricted stock awards (“RSAs”), deferred stock, deferred stock units, performance awards, stock appreciation rights, performance stock units (“PSUs”), and cash awards. As of June 30, 2021, there were 1,305,458 shares available for issuance under the 2015 Plan.

The following table presents the components of share-based compensation expense by award type for the years ended June 30, 2021, 2020 and 2019.

	2021		2020			2019
Restricted stock awards	$	1,545	$	1,285		$	913
Performance stock units		1,439		(233	)		563
Stock options		-		9			201
Share-based compensation expense	$	2,984	$	1,061		$	1,677

The amount of compensation cost the Company recognizes over the requisite service period is based on the Company’s best estimate of the achievement of the performance conditions and can fluctuate over time.

In conjunction with the resignation of an executive officer in October 2019, approximately $0.5 million of share-based compensation expense recognized in prior periods was reversed during fiscal 2020 for RSAs and PSUs that were forfeited.

The following table presents the income tax benefit related to share-based compensation expense recognized by award type.

	2021		2020			2019
Restricted stock awards	$	350	$	290		$	217
Performance stock units		326		(53	)		134
Stock options		-		2			48
Share-based compensation expense	$	676	$	239		$	399

All RSAs granted to non-employee directors vest over the remainder of that fiscal year, and all RSAs granted to employees vest over a period of between one to three years. Generally, non-vested RSAs are forfeited if employment is terminated prior to vesting. RSAs are granted at a per share fair value equal to the market value of the Company’s common stock on the grant date. The Company recognizes the cost of non-vested RSAs ratably over the requisite service period.

The total grant date fair value of RSAs vested during the years ended June 30, 2021, 2020, and 2019 was $1.6 million , $1.0 million and $0.7 million, respectively.

A summary of RSA activity for the years ended June 30, 2021, 2020 and 2019, is as follows:

	Number of Restricted Stock Awards			Weighted Average Grant Date Fair Value
Total Non-vested Restricted Stock Awards at June 30, 2018		43,310		$	17.28
Granted		51,995			26.79
Vested		(33,093	)		21.54
Forfeited		(8,408	)		23.08
Total Non-vested Restricted Stock Awards at June 30, 2019		53,804			22.94
Granted		138,457			17.41
Vested		(50,570	)		20.09
Forfeited		(34,797	)		20.24
Total Non-vested Restricted Stock Awards at June 30, 2020		106,894			18.01
Granted		93,357			20.34
Vested		(73,385	)		18.54
Forfeited		(8,673	)		19.29
Total Non-vested Restricted Stock Awards at June 30, 2021		118,193			19.42

As of June 30, 2021, there was $1.4 million of total unrecognized compensation expense related to non-vested RSAs. The Company expects this expense to be recognized over a weighted average period of 1.63 years.

During the years ended June 30, 2021, 2020, and 2019, the Company granted performance shares to certain employees. The awards will be earned based on the Company’s achievement of certain performance criteria over a three-year performance period. The performance period for the awards commence on July 1 of the fiscal year in which they were granted and continue for a three-year period, ending on June 30 of the applicable year. The probability of achieving the performance criteria is assessed quarterly. Following the determination of the Company’s achievement with respect to the performance criteria, the amount of shares awarded will be subject to adjustment based on the application of a total shareholder return (“TSR”) modifier. The grant date fair value is determined based on both the assessment of the probability of the Company’s achieving the performance criteria and an estimate of the expected TSR modifier. The TSR modifier estimate is determined by using a Monte Carlo Simulation model, which considers the likelihood of all possible outcomes of long-term market performance. The amount of compensation cost the Company recognizes over the requisite service period is based on management’s best estimate of the achievement of the performance criteria.

The fair value of PSUs vested during the year ended June 30, 2021, 2020 and 2019 was $0.4 million, $0.2 million, and $0.4 million, respectively.

A summary of PSU activity for the years ending June 30, 2021, 2020 and 2019, is as follows:

	Number of Performance Stock Units			Weighted Average Grant Date Fair Value
Total Non-vested Performance Stock Units at June 30, 2018		59,328		$	14.98
Granted		35,122			25.70
Vested		(32,373	)		11.85
Forfeited		(11,456	)		19.73
Total Non-vested Performance Stock Units at June 30, 2019		50,621			23.34
Granted		72,048			18.18
Vested		(8,383	)		19.40
Forfeited		(46,882	)		20.82
Total Non-vested Performance Stock Units at June 30, 2020		67,404			20.02
Granted		123,096			22.11
Vested		(14,627	)		26.29
Forfeited		(15,588	)		20.25
Total Non-vested Performance Stock Units at June 30, 2021		160,285			21.03

As of June 30, 2021, there was $2.2 million of total unrecognized compensation expense related to non-vested PSUs. The Company expects this expense to be recognized over a weighted average period of 1.83 years.

In July 2015, the Company granted 137,786 NSOs to certain employees. As of July 2019, all outstanding options were fully vested and exercisable. The fair value of NSOs vested during each of the years ended June 30, 2020, and 2019 was $0.2 million.

A summary of NSO activity for the years ending June 30, 2021, 2020, and 2019 is as follows:

						Weighted
				Weighted		Average
				Average		Remaining	Aggregate
				Exercise		Contractual	Intrinsic
	Shares			Price		Term (Yrs.)	Value
Outstanding at June 30, 2018		93,125		$	10.70	7.1	$	1,700
Granted		-
Exercised		(10,563	)		10.70
Forfeited or expired		(1,703	)		10.70
Outstanding at June 30, 2019		80,859			10.70	6.1		719
Granted		-
Exercised		(48,467	)		10.70
Forfeited or expired		-
Outstanding at June 30, 2020		32,392			10.70	5.1		270
Granted		-
Exercised		(7,952	)		10.70
Forfeited or expired		-
Outstanding at June 30, 2021		24,440			10.70	4.1		381

Fully vested and exercisable at June 30, 2021		24,440