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Stock Compensation (Tables)
 6 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value
Type of AwardQuarter AwardedTargeted Shares or Units
Grant Date Fair Value (4)
Relative Total Shareholder Return Performance Units (1)
1st Quarter63,110 $15.54
Restricted Stock Units (2)
1st Quarter214,330 $12.57-$13.02
Restricted Stock Units (2)
2nd Quarter42,142 $10.42-$11.05
Unrestricted Shares (3)
1st Quarter8,966 $13.11-$13.25
Unrestricted Shares (3)
2nd Quarter9,246 $11.58
(1) Performance units were awarded to key officers under the Company’s Relative Total Shareholder Return program. Vesting occurs at June 30, 2024. Participants will earn from 0% to 200% of the target award depending upon how the compound annual growth rate of Kimball International common stock ranks within the peer group at the end of the performance period. The maximum number of units that can be issued under these awards, excluding forfeited awards, is 121,298.
(2) Restricted stock units were awarded to officers and key employees. Vesting occurs at June 30, 2022, June 30, 2023, and June 30, 2024. Upon vesting, the outstanding number of restricted stock units and the value of dividends accumulated over the vesting period are converted to shares of common stock.
(3) Unrestricted shares were awarded to non-employee members of the Board of Directors and key employees as consideration for service to Kimball International and do not have vesting periods, holding periods, restrictions on sale, or other restrictions.
(4) The grant date fair value of the Relative Total Shareholder Return awards was calculated using a Monte Carlo simulation. This valuation technique includes estimating the movement of stock prices and the effects of volatility, interest rates, and dividends. The grant date fair value of the restricted stock units that receive dividends and unrestricted shares was based on the stock price at the date of the award.