Share-Based Compensation (Tables)

The following table summarizes restricted stock activity for the year ended June 30, 2020:



Outstanding and Nonvested Restricted Stock Awards:	Shares Awarded		Weighted Average Grant Date Fair Value ($)
Outstanding at June 30, 2019	32,056		21.10
Granted	229,573		13.0
Exercised/Released	(30,352	)	20.8
Cancelled/Forfeited	(12,673	)	17.7
Outstanding and nonvested at June 30, 2020	218,604		13.0

Following are the assumptions used in the Black-Scholes valuation model for NQOs granted on the date of the grant during the fiscal years ended June 30, 2020, 2019 and 2018:



	Year Ended June 30,
	2020			2019			2018
Weighted average fair value of NQOs	$	4.24		$	7.78		$	10.41
Risk-free interest rate	1.5		%	3.0		%	2.0		%
Dividend yield	—		%	—		%	—		%
Average expected term	4.6 years			4.6 years			4.6 years
Expected stock price volatility	35.4		%	29.6		%	35.4		%

The following table summarizes NQO activity for the year ended June 30, 2020:



Outstanding NQOs:	Number of NQOs		Weighted Average Exercise Price ($)	Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value ($ in thousands)
Outstanding at June 30, 2019	198,049		27.35	5.25	40
Granted	536,468		13.16	—	—
Exercised	(10,360	)	12.48	—	28
Forfeited	(157,172	)	24.14	—	—
Expired	(38,027	)	31.31	—	—
Outstanding at June 30, 2020	528,958		13.92	6.21	55
Exercisable at June 30, 2020	20,017		28.27	3.23	—

PNQ shares were not granted during the fiscal years ended June 30, 2020, 2019 and 2018.

The following table summarizes PNQ activity for the year ended June 30, 2020:



Outstanding PNQs:	Number of PNQs		Weighted Average Exercise Price ($)	Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value ($ in thousands)
Outstanding at June 30, 2019	229,961		26.21	1.23	—
Granted	—		—	—	—
Exercised	—		—	—	—
Forfeited	(6,212	)	32.85	—	—
Expired	(210,119	)	25.86	—	—
Outstanding at June 30, 2020	13,630		28.60	2.36	—
Exercisable at June 30, 2020	8,822		26.89	1.98	—