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Employee Stock Puchase Plan
12 Months Ended
Jun. 30, 2012
Employee Stock Puchase Plan [Abstract]  
Employee Stock Purchase Plan

8.             Employee Stock Purchase Plan

 

The Company has an Employee Stock Purchase Plan for all employees meeting certain eligibility criteria.  Under the Plan, eligible employees may purchase shares of the Company's common stock at 85% of its market value at the beginning of the six-month election period.  Purchases are limited to 10% of an employee's eligible compensation and the shares purchased are restricted from being sold for one year from the purchase date.  At June 30, 2012, 67,888 shares remained available under the Plan. 

 

Activity under this Plan is shown in the following table: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchase Period Ended

 

 

June 30,

 

 

2012

 

2011

 

2010

Non-cash stock based compensation expense

 

$

 6,653 

 

$

 22,000 

 

$

 25,000 

Common shares purchased

 

 

 7,626 

 

 

 19,534 

 

 

 16,213 

Average purchase price per share

 

$

 4.22 

 

$

 3.05 

 

$

 2.83