Note J - Treasury Stock

6 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

J. Treasury Stock

We purchase shares under a stock repurchase plan (“Repurchase Plan”) authorized by the Board of Directors. On December 2, 2022, the Board of Directors authorized a $1.0 million increase to the Repurchase Plan, thus bringing the total authorized repurchase to $19.0 million. Under the Repurchase Plan, we may, from time to time, purchase shares of our common stock, depending upon market conditions, in open market or privately negotiated transactions.

Stock repurchases for the three months ended December 31, 2022 were as follows:

	Shares		Average Cost		Total Cost (in thousands)
Shares purchased under Repurchase Plan		68,570	$	8.19	$	562
Shares acquired from employees for restricted stock vesting		—		—		—
Total		68,570			$	562

Stock repurchases for the six months ended December 31, 2022 were as follows:

	Shares		Average Cost		Total Cost (in thousands)
Shares purchased under Repurchase Plan		115,365	$	9.18	$	1,059
Shares acquired from employees for restricted stock vesting		—		—		—
Total		115,365			$	1,059

Stock repurchases for the three months ended December 31, 2021 were as follows:

	Shares		Average Cost		Total Cost (in thousands)
Shares purchased under Repurchase Plan		189,702	$	13.32	$	2,527
Shares acquired from employees for restricted stock vesting		—		—		—
Total		189,702			$	2,527

Stock repurchases for the six months ended December 31, 2021 were as follows:

	Shares		Average Cost		Total Cost (in thousands)
Shares purchased under Repurchase Plan		189,702	$	13.32	$	2,527
Shares acquired from employees for restricted stock vesting		692		14.20		10
Total		190,394			$	2,537

Stock repurchase costs include commissions and fees.

Shares acquired from employees for restricted stock vesting were returned to us by the related employees and in return we paid each employee’s required tax withholding resulting from the vesting of restricted shares. The valuation of the shares acquired and thereby the number of shares returned to us was calculated based on the closing share price on the date the shares vested.