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Note 10: Employee Benefits: Stock Option Plans Policy (Policies) | 12 Months Ended
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Jun. 30, 2016
Policies |
Stock Option Plans Policy | Stock Option Plans. The Company adopted a stock option plan in October 2003. Under the plan, the Company has granted options to purchase 242,000 shares (split-adjusted) to employees and directors, of which, options to purchase 143,000 shares (split-adjusted) have been exercised, options to purchase 45,000 shares (split-adjusted) have been forfeited, and 54,000 remain outstanding. Under the 2003 Plan, exercised options may be issued from either authorized but unissued shares, or treasury shares. As of June 30, 2016, there was $30,000 in remaining unrecognized compensation expense related to nonvested stock options, which will be recognized over the remaining weighted average vesting period. The aggregate intrinsic value of stock options outstanding at June 30, 2016, was $798,000, and the aggregate intrinsic value of stock options exercisable at June 30, 2016, was $726,000. During fiscal 2016, options to purchase 15,000 shares were exercised. The intrinsic value of these options, based on the Company’s closing stock price of $23.53, was $254,000. The intrinsic value of options vested in fiscal 2016, 2015, and 2014 was $37,000, $115,000, and $129,000, respectively.

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