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Stock-Based Incentive Plan (Tables)

3 Months Ended

Sep. 30, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Market-based Award Valuation Assumptions

For market-based awards granted during the three months ended September 30, 2019 and 2018, the assumptions used in the Monte Carlo simulation valuations, expected lives and fair values were as follows:

	Three Months Ended September 30,
	2019				2018
Weighted average fair value of market-based awards granted	$	3.50			$	8.24
Risk-free interest rate	1.87		%		2.69		%
Expected vesting term in years	1.35				2.82
Expected volatility	43.7		%		41.8		%
Dividend yield	6.0		%		4.0		%

Schedule of Restricted Stock transactions

Unvested Restricted Stock awards at September 30, 2019 consisted of the following:

	Number of Restricted Shares			Weighted Average Grant-Date Fair Value
Service-based awards	142,132			$	7.83
Market-based awards	41,888			8.24
Unvested Restricted Stock at September 30, 2019	184,020			$	7.92

Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Restricted Stock transactions

The following table sets forth the Restricted Stock transactions for the three months ended September 30, 2019:

	Number of Restricted Shares			Weighted Average Grant-Date Fair Value				Unamortized Compensation Expense at September 30, 2019				Weighted Average Remaining Amortization Period (Years)
Unvested at July 1, 2019	176,683			$	8.09
Service-based shares granted	48,872			6.65
Vested	(33,287	)		6.53
Forfeited	(8,248	)		9.48
Unvested Restricted Stock at September 30, 2019	184,020			$	7.92			$	889,543			2.06

Contingent Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Restricted Stock transactions

Unvested Contingent Restricted Stock awards table below consists solely of market-based awards:

	Number of Contingent Restricted Shares			Weighted Average Grant-Date Fair Value				Unamortized Compensation Expense at September 30, 2019				Weighted Average Remaining Amortization Period (Years)
Unvested at July 1, 2019	10,156			$	3.42
Market-based awards granted	200,000			3.50
Vested	(10,156	)		3.42
Unvested contingent shares at September 30, 2019	200,000			$	3.50			$	574,045			1.1

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- Definition

Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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