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Note 11 - Equity Compensation
6 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]

NOTE 11 – EQUITY COMPENSATION

 

In November 2019, the Company’s shareholders approved the 2019 Omnibus Award Plan (“2019 Omnibus Plan”). The purpose of the 2019 Omnibus Plan is to provide a means through which the Company may attract and retain key personnel and to provide a means by which directors, officers, and employees can acquire and maintain an equity interest in the Company. The number of shares that remain reserved for issuance under the 2019 Omnibus Plan equates to 1,692,180 as of December 31, 2021. The 2019 Omnibus Plan implements the use of a fungible share ratio that consumes 2.5 available shares for every full value share awarded by the Company as stock compensation. The 2019 Omnibus Plan allows for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock units (“RSUs”), performance stock units (“PSUs”) and other stock-based awards.

 

In the six months ended December 31, 2021, the Company granted 189,980 PSUs and 145,781 RSUs, both with a weighted average fair market value of $8.16. Stock compensation expense was $1.1 million and $0.4 million for the three months ended December 31, 2021 and 2020, respectively, and $1.7 million and $0.9 million in the six months ended December 31, 2021 and 2020, respectively.