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Stock-Based Compensation (Tables)
12 Months Ended
Jun. 30, 2016
Stock-Based Compensation [Abstract]  
Stock Option Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Fiscal Year 2016

 

Fiscal Year 2015



 

 

 

Weighted

 

Aggregate

 

 

 

Weighted

 

Aggregate



 

 

 

Average

 

Intrinsic

 

 

 

Average

 

Intrinsic



 

 

 

Exercise

 

Value (1)

 

 

 

Exercise

 

Value (1)

Shares subject to option

 

Shares

 

Price

 

($000)

 

Shares

 

Price

 

($000)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at beginning of period

 

658,641 

 

$

8.53 

 

 

 

 

765,486 

 

$

8.09 

 

 

 

New Grants (based on fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

of common stock at dates of grant)

 

511,197 

 

$

7.35 

 

 

 

 

114,000 

 

$

10.01 

 

 

 

Exercised

 

(9,748)

 

$

5.92 

 

 

 

 

(135,635)

 

$

6.29 

 

 

 

Expired

 

(123,833)

 

$

9.08 

 

 

 

 

(21,260)

 

$

11.48 

 

 

 

Forfeited

 

(401,099)

 

$

8.48 

 

 

 

 

(63,950)

 

$

9.70 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 

635,158 

 

$

7.53 

 

$

54 

 

658,641 

 

$

8.53 

 

$

1,438 

Exercisable at end of period

 

329,210 

 

$

7.78 

 

$

54 

 

356,966 

 

$

7.94 

 

$

1,015 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Fiscal Year 2014

 

 



 

 

 

Weighted

 

Aggregate

 

 

 

 

 

 



 

 

 

Average

 

Intrinsic

 

 

 

 

 

 



 

 

 

Exercise

 

Value (1)

 

 

 

 

 

 

Shares subject to option

 

Shares

 

Price

 

($000)

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at beginning of period

 

1,122,675 

 

$

7.07 

 

 

 

 

 

 

 

 

 

 

 

New Grants (based on fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

of common stock at dates of grant)

 

214,000 

 

$

10.80 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

(497,446)

 

$

7.16 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

(18,743)

 

$

9.14 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

(55,000)

 

$

5.89 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 

765,486 

 

$

8.09 

 

$

3,614 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

407,236 

 

$

7.47 

 

$

2,148 

 

 

 

 

 

 

 

 



(1) The intrinsic value of a stock option is the amount by which the current market value of the underlying stock exceeds the exercise price of the option.  The total intrinsic value of stock options exercised during the fiscal years ended June 30, 2016, 2015 and 2014, were $24,000,  $641,000 and $2,034,000, respectively.  The total fair value of shares vested during the fiscal years ended June 30, 2016, 2015 and 2014, were $323,000,  $295,000 and $182,000, respectively.

Valuation Assumptions



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



2016

 

2015

 

2014

Weighted average estimated fair value per

 

 

 

 

 

 

 

 

share of options granted during the period

$

2.94 

 

$

4.04 

 

$

3.18 

Assumptions:

 

 

 

 

 

 

 

 

Dividend yield

 

 -

 

 

 -

 

 

2.10 

Common stock price volatility

 

45.43% 

 

 

46.85% 

 

 

38.88% 

Risk free rate of return

 

1.55% 

 

 

1.62% 

 

 

1.53% 

Expected option term (in years)

 

5.7 

 

 

5.8 

 

 

5.0 



Shares Authorized under Stock Option Plans, by Exercise Price Range



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable



 

 

 

 

 

 

 

 

 

Weighted

 

Weighted

 

 

 

Weighted



 

 

 

 

 

 

 

 

 

Average

 

Average

 

 

 

Average



 

 

 

 

 

 

 

 

 

Remaining

 

Exercise

 

 

 

Exercise

Range of Exercise Prices

 

Shares

 

Contractual Life

 

Price

 

Shares

 

Price



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

2.80 

 

to

 

$

4.87 

 

56,900 

 

5.14 

 

$

3.79 

 

36,900 

 

$

3.22 



5.70 

 

to

 

 

8.81 

 

480,158 

 

6.49 

 

$

7.21 

 

216,510 

 

$

7.34 



8.94 

 

to

 

 

14.01 

 

98,100 

 

4.01 

 

$

11.25 

 

75,800 

 

$

11.27 

$

2.80 

 

to

 

$

14.01 

 

635,158 

 

5.99 

 

$

7.53 

 

329,210 

 

$

7.78 



Summary of Restricted Shares Issued



 

 

 

 

 



 

 

 

 

 



 

 

 

Weighted Average



Nonvested

 

Grant Date



Shares

 

Fair Value

Nonvested at June 30, 2015

 

62,014 

 

$

10.76 

Granted

 

25,000 

 

 

6.41 

Vested

 

(33,007)

 

 

11.69 

Forfeited or expired

 

(12,866)

 

 

9.20 

Nonvested at June 30, 2016

 

41,141 

 

$

7.82