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Note I - Treasury Stock
6 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Treasury Stock [Text Block]
I. Treasury Stock
 
On
June
 
2,
2011,
the Board of Directors authorized the repurchase of up to
$2.0
 million of our common stock. On
February 6, 2015,
the Board of Directors authorized a
$1.0
million increase to our stock repurchase plan bringing the total authorized repurchase amount to
$3.0
million. On
May 11, 2015,
the Board of Directors authorized a
$2.0
million increase to our stock repurchase plan bringing the total authorized repurchase amount to
$5.0
million. On
March 28, 2017,
the Board of Directors authorized a
$2.0
million increase to our stock repurchase plan bringing the total authorized repurchase amount to
$7.0
million. Under the repurchase plan, we
may,
from time to time, purchase shares of our common stock, depending upon market conditions. When we do so we
may
purchase the shares in open market or privately negotiated transactions.
 
During the
three
and
six
months ended
December 31, 2017 
and
December 31, 2016,
we did
not
repurchase any shares under this repurchase plan.
 
During
the
three
months ended
December 31, 2017,
we acquired
7,264
shares in connection with restricted stock shares that vested during that year at a weighted average cost of
$10.80
per share and a total cost of
$78,000.
During the
six
months ended
December 31, 2017,
we acquired
7,998
shares in connection with restricted stock shares that vested during that period at a weighted average cost of
$10.79
per share and a total cost of
$86,000.
During the
three
months ended
December 31, 2016,
we acquired
367
shares from employees in connection with restricted stock shares that vested during the period at a weighted average cost of
$12.30
per share and a total cost of
$5,000.
During the
six
months ended
December 31, 2016,
we acquired
6,404
shares from employees in connection with restricted stock shares that vested during the period at a weighted average cost of
$13.09
per share and a total cost of
$84,000.
 
These shares were returned to NAI by the related employees and in return NAI paid each
employee’s required tax withholding required as a result of the vesting of the restricted shares. The valuation of the shares acquired and thereby the number of shares returned to NAI was calculated based on the closing share price on the date the restricted shares vested.