Stockholders' Equity

6 Months Ended

Dec. 31, 2017

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

During the three and six months endedDecember 31, 2017, the Company issued 30,000 shares of restricted stock and no shares of common stock upon the exercise of warrants and options. During the three and six months endedDecember 31, 2017, 2,000 and 6,000 shares, respectively, of restricted stock were canceled or surrendered as payment of tax withholding upon vesting.

On November 27, 2017, the Company announced a share repurchase program authorizing it to repurchase up to $5 million in shares of the Company's common stock. The repurchase program permits the Company to purchase shares through a variety of methods, including in the open market, through privately negotiated transactions or other means as determined by the Company's management. As part of the repurchase program, the Company may enter into a pre-arranged stock repurchase plan which will operate in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act. Accordingly, transactions, if any, would be completed in accordance with the terms of the stock repurchase plan, including specified price, volume and timing conditions. The authorization may be suspended or discontinued at any time and expires on November 27, 2020. During the six months endedDecember 31, 2017, the Company purchased 45,107 shares of its common stock on the open market at an aggregate purchase price of $0.2 million under this repurchase program. At December 31, 2017, there is $4.8 million remaining under this repurchase program.

The Company’s Articles of Incorporation authorize the issuance of preferred shares. However, as of December 31, 2017, none have been issued and no rights or preferences have been assigned to the preferred shares by the Company’s board of directors.