STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

Schedule of weighted average fair values per stock-based compensation award granted

Using the fair value of each grant on the date of grant, the weighted average fair values per stock-based compensation award granted during fiscal years 2022 and 2021 were as follows (1):

	Fiscal Years
	2022		2021
SARs	$	2.56	$	—
SOs	1.82		2.89
RSUs	2.69		7.15
PSUs	—		5.83

_______________________________________________________________________________(1)The fair value of cash-settled SARs granted are estimated on the date of grant using a Black-Scholes valuation model, with the fair value recalculated on a quarterly basis. The fair value of market-based SOs granted are estimated on the date of grant using either a Monte Carlo valuation model or a Black-Scholes valuation model. The fair value of market-based RSUs and PSUs granted are estimated on the date of grant using a Monte Carlo valuation model.

Schedule of assumptions used in determining estimated fair value of stock options, SARs and market-based RSUs granted

The significant assumptions used in determining the estimated fair value of the market-based awards granted during fiscal years 2022 and 2021 were as follows:

	Fiscal Years
	2022		2021
Risk-free interest rate	1.25 - 3.04%		0.16 - 0.78%
Expected volatility	58.3 - 64.5%		44.9 - 66.8%
Expected dividend yield	—	%	—	%
Expected term of share options	6.1 - 7.7 years		7.0 years

Schedule of stock-based compensation expense

Stock-based compensation expense was as follows:

	Fiscal Years
	2022		2021
	(Dollars in thousands)
SARs & SOs (1)	$	(241)	$	456
RSUs & PSUs	1,575		2,798
Total stock-based compensation expense (recorded in general and administrative)	1,334		3,254
Less: Income tax benefit (2)	—		—
Total stock-based compensation expense, net of tax	$	1,334	$	3,254

_______________________________________________________________________________

(1)A benefit was recognized in fiscal year 2022 due to forfeiture of SARs and SOs.

(2)Federal statutory income tax rate utilized of 0% due to a valuation allowance in fiscal years 2022 and 2021.

Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option

Activity for all the Company's outstanding SARs is as follows:

	Shares/Units (in thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (in thousands)
	SARs
Outstanding balance at June 30, 2021	1,041	$	11.32
Granted	600	2.56
Forfeited/Expired	(30)	16.95
Exercised	—	—
Outstanding balance at June 30, 2022	1,611	$	7.95	6.50	$	(11,068)
Exercisable at June 30, 2022	1,011	$	11.15	4.78	$	(10,181)
Unvested awards, net of estimated forfeitures	466	$	2.56	9.40	$	(690)

Share-based Payment Arrangement, Option, Activity

Activity for all the Company's outstanding SOs is as follows:

	Shares/Units (in thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (in thousands)
	SOs
Outstanding balance at June 30, 2021	1,459	$	6.53
Granted	1,505	1.82
Forfeited/Expired	(1,469)	6.50
Exercised	—	—
Outstanding balance at June 30, 2022	1,495	$	1.81	9.66	$	(1,091)
Exercisable at June 30, 2022	—	$	—	—	$	—
Unvested awards, net of estimated forfeitures	1,079	$	1.84	9.66	$	(820)

Schedule of activity for RSUs

Activity for all the Company's RSUs is as follows:

	Shares/Units (in thousands)	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)
	RSUs
Outstanding balance at June 30, 2021	1,175	$	10.30
Granted	828	2.69
Forfeited	(437)	6.44
Vested	(659)	8.84
Outstanding balance at June 30, 2022	907	$	6.27	$	980
Vested at June 30, 2022	413	$	8.73	$	446
Unvested awards, net of estimated forfeitures	310	$	4.59	$	335

Schedule of activity for PSUs

Activity for all the Company's PSUs is as follows:

	Shares/Units (in thousands)	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (in thousands)
	PSUs
Outstanding balance at June 30, 2021	164	$	12.56
Granted	—	—
Forfeited	(90)	13.68
Vested	—	—
Outstanding balance at June 30, 2022	74	$	9.82	$	80
Vested at June 30, 2022	—	$	—	$	—
Unvested awards, net of estimated forfeitures	62	$	9.20	$	67