XML 70 R40.htm IDEA: XBRL DOCUMENT v3.20.2

Stock-Based Incentive Plan (Tables)

12 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Valuation Assumptions

Assumptions used in the Monte Carlo simulation valuations for the years ended June 30, 2020 and 2019 were:

	Year Ended June 30,
	2020				2019
Weighted average fair value of market-based awards granted	$	3.79			$	8.24
Risk-free interest rate	1.65% to 1.87%				2.69		%
Expected life in years	1.35 to 2.56				2.82
Expected volatility	38.6% to 43.7%				41.8		%
Dividend yield	6% to 7.2%				4.0		%

Schedule of Restricted Stock transactions

The following table sets forth the Restricted Stock transactions for the year ended June 30, 2020:

	Number of Restricted Shares			Weighted Average Grant-Date Fair Value				Unamortized Compensation Expense at June 30, 2020				Weighted Average Remaining Amortization Period (Years)
Unvested at July 1, 2019	176,683			$	8.09			$	—
Service-based shares granted	157,386			5.73
Market-based shares granted	104,236			4.34
Vested	(104,159	)		7.19
Forfeited	(49,118	)		9.35
Unvested at June 30, 2020	285,028			$	5.53			$	1,001,477			1.74

The following table summarizes Contingent Restricted Stock activity for the year ended June 30, 2020:

	Number of Restricted Stock Units			Weighted Average Grant-Date Fair Value				Unamortized Compensation Expense at June 30, 2020				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 at June 30, 2020	200,000			$	3.50			$	156,591			0.52

Unvested Restricted Stock awards at June 30, 2020 consisted of the following:

Award Type	Number of Restricted Shares			Weighted Average Grant-Date Fair Value
Service-based awards	155,318			$	5.88
Market-based awards	129,710			5.10
Unvested at June 30, 2020	285,028			$	5.53

Schedule of Restricted Stock Activity

The following is a summary of Contingent Restricted Stock vestings for the last two fiscal years:

	Year Ended June 30,
	2020				2019
Vest-date intrinsic value of Contingent Restricted Stock	$	60,225			$	105,227
Grant-date fair value of vested Contingent Restricted Stock	$	34,734			$	60,266
Number of awards that vested	10,156				10,629

The following is a summary of Restricted Stock that vested during the last two fiscal years:

	Year Ended June 30,
	2020				2019
Vesting-date intrinsic value of Restricted Stock	$	477,647			$	1,141,631
Grant-date fair value of vested Restricted Stock	$	748,893			$	909,678
Number of awards that vested	104,159				133,776

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration