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Note 13 - Stock-Based Compensation and Purchase Plans | 12 Months Ended
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Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 13. STOCK-BASED COMPENSATION AND PURCHASE PLANS Stock-Based Compensation Plans Under incentive compensation plans, the Company is authorized to make grants of stock options, restricted stock and performance share units to provide equity incentive compensation to key employees and directors. In fiscal 2004, the Company began granting stock awards instead of stock options. The stock award program offers employees and directors the opportunity to earn shares of our stock over time, rather than options that give the employees and directors the right to purchase stock at a set price. The Company has stock plans for directors, officers and certain key employees. Total compensation cost recognized in income for equity based compensation awards was $6.6 million, $3.3 million, and $3.8 million for the years ended June 30, 2014, 2013 and 2012, respectively, primarily within Selling, General, and Administrative Expenses. The total income tax benefit recognized in the consolidated statement of operations for equity-based compensation plans was $2.3 million, $1.2 million, and $1.3 million for the years ended June 30, 2014, 2013 and 2012, respectively. 458,513 shares of common stock were reserved for issuance under various compensation plans at June 30, 2014. Restricted Stock Awards The Company may award shares of restricted stock to eligible employees and non-employee directors of the Company at no cost, giving them in most instances all of the rights of stockholders, except that they may not sell, assign, pledge or otherwise encumber such shares and rights during the restriction period. Such shares and rights are subject to forfeiture if certain employment conditions are not met. During the restriction period, recipients of the shares are entitled to dividend equivalents on such shares, providing that such shares are not forfeited. Dividends are accumulated and paid out at the end of the restriction period. During 2014, 2013 and 2012, the Company granted 62,698, 44,388, and 52,884 shares, respectively, of restricted stock to eligible participants. Restrictions on the stock awards generally lapse between fiscal 2015 and fiscal 2017. For the years ended June 30, 2014, 2013 and 2012, $3.3 million, $1.5 million, and $1.4 million, respectively, was recognized as compensation expense related to restricted stock awards. Substantially all awards are expected to vest. A summary of restricted stock awards activity during the year ended June 30, 2014 is as follows:
|  | Restricted Stock Awards |
|  | Number |  |  | Aggregate |
|  | of |  |  | Intrinsic |
|  | Shares |  |  | Value |
Outstanding, June 30, 2013 |  |  | 172,490 |  |  | $ | 9,098,848 |
Granted |  |  | 62,698 |  |  |  |  |
Exercised / vested |  |  | (88,826 | ) |  |  | 4,932,618 |
Canceled |  |  | (2,267 | ) |  |  |  |
Outstanding, June 30, 2014 |  |  | 144,095 |  |  | $ | 10,732,196 |
Performance stock units during 2014, 2013 and 2012 had a weighted average grant date fair value of $58.84, $44.59, and $29.05, respectively. The grant date fair value of restricted stock awards is determined based on the closing price of the Company’s common stock on the date of grant. The total intrinsic value of awards exercised during the years ended June 30, 2014, 2013, and 2012 was $3.1 million, $3.5 million, and $2.4 million, respectively. As of June 30, 2014, there was $2.4 million of unrecognized compensation costs related to awards expected to be recognized over a weighted-average period of 1.22 years. Executive Compensation Program The Company operates a compensation program for key employees. The plan contains both an annual component as well as long-term component. Under the annual component, participants may elect to defer up to 50% of their annual incentive compensation in restricted stock which is purchased at a discount to the market. Additionally, non-employee directors of the Company may defer a portion of their director’s fees in restricted stock units which is purchased at a discount to the market. During the restriction period, recipients of the shares are entitled to dividend equivalents on such units, providing that such shares are not forfeited. Dividend equivalents are accumulated and paid out at the end of the restriction period. The restrictions on the units expire after three years. At June 30, 2014 and 2013 respectively, 52,431 and 105,967 shares of restricted stock units are outstanding and subject to restrictions that lapse between fiscal 2014 and fiscal 2016. The compensation expense associated with this incentive program is charged to income over the restriction period. The Company recorded compensation expense related to this program of $0.7 million, $0.6 million, and $0.4 million for the years ended June 30, 2014, 2013 and 2012, respectively. As of June 30, 2014, there was $0.2 million of unrecognized compensation costs related to awards expected to be recognized over a weighted-average period of 1.00 years The fair value of the awards under the annual component of this incentive program is measured using the Black-Scholes option-pricing model. Key assumptions used to apply this pricing model are as follows:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Risk-free interest rates |  |  | 0.70 | % |  |  | 0.25 | % |  |  | 0.25 | %
Expected life of option grants (in years) |  |  | 3 |  |  |  | 3 |  |  |  | 3 |
Expected volatility of underlying stock |  |  | 38.9 | % |  |  | 47.4 | % |  |  | 63.2 | %
Expected quarterly dividends (per share) |  | $ | 0.08 |  |  | $ | 0.07 |  |  | $ | 0.06 |
Under the long-term component, grants of performance share units (“PSUs”) are made annually to key employees and the share units are earned based on the achievement of certain overall corporate financial performance targets over the performance period. At the end of the performance period, the number of shares of common stock issued will be determined by adjusting upward or downward from the target in a range between 50% and 200%. No shares will be issued if the minimum performance threshold is not achieved. The final performance percentage, on which the payout will be based, considering the performance metrics established for the performance period, will be certified by the Compensation Committee of the Board of Directors. The awards granted by the Committee provided that the PSUs will be converted to shares of common stock if the Company’s EBITDA (earnings before interest, taxes, depreciation and amortization) and return on assets meet specified levels approved by the Committee. A participant’s right to any shares that are earned will vest in three equal installments. An executive whose employment terminates prior to the vesting of any installment for a reason other than death, disability, retirement, or following a change in control, will forfeit the shares represented by that installment. In certain circumstances, such as death, disability, or retirement, PSUs are paid on a pro-rata basis. In the event of a change in control, vesting of the awards granted is accelerated. A summary of the awards activity under the executive compensation program during the year ended June 30, 2014 is as follows:
|  | Annual Component |  |  | Performance Stock Units |
|  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Number |  |  | Average |  |  | Aggregate |  |  | Number |  |  | Aggregate |
|  | of |  |  | Exercise |  |  | Intrinsic |  |  | of |  |  | Intrinsic |
|  | Shares |  |  | Price |  |  | Value |  |  | Shares |  |  | Value |
Non-vested, June 30, 2013 |  |  | 105,967 |  |  | $ | 23.68 |  |  | $ | 1,683,260 |  |  |  | 41,003 |  |  | $ | 2,162,926 |
Granted |  |  | 15,608 |  |  |  | 39.56 |  |  |  |  |  |  |  | 87,220 |  |  |  |  |
Vested |  |  | (68,504 | ) |  |  | 22.49 |  |  |  | 2,308,140 |  |  |  | (58,584 | ) |  |  | 2,386,361 |
Forfeited |  |  | (639 | ) |  |  | 28.78 |  |  |  |  |  |  |  | (29,273 | ) |  |  |  |
Non-vested, June 30, 2014 |  |  | 52,432 |  |  | $ | 29.91 |  |  | $ | 1,360,566 |  |  |  | 40,366 |  |  | $ | 2,156,759 |
Restricted stock awards granted under the annual component of this program in fiscal 2014, 2013, and 2012 had a grant date fair value of $69.47, $55.61, and $40.78, respectively. The PSUs granted in fiscal 2014, 2013 and 2012 had a grant date fair value of $54.48, $44.20, and $26.60, respectively. The total intrinsic value of awards vested under the executive compensation program during the years ended June 30, 2014, 2013 and 2012 was $2.2 million, $3.1 million, and $5.4 million, respectively. The Company recognized compensation expense related to the PSUs of $2.7 million, $1.3 million, and $2.1 million for the years ended June 30, 2014, 2013 and 2012, respectively. The total unrecognized compensation costs related to non-vested performance share units was $1.3 million at June 30, 2014, which is expected to be recognized over a weighted average period of 1.90 years. Employee Stock Purchase Plan The Company has an Employee Stock Purchase Plan that allows employees to purchase shares of common stock of the Company at a discount from the market each quarter. Shares of our stock may be purchased by employees quarterly at 95% of the fair market value on the last day of each quarter. Shares of stock reserved for the plan were 97,890 at June 30, 2014. Shares purchased under this plan aggregated 4,473, 5,813, and 9,185 in 2014, 2013 and 2012, respectively, at an average price of $58.54, $48.16, and $34.48, respectively.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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