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Stock-Based Incentive Plan (Tables) | 9 Months Ended
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Mar. 31, 2020
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 nine months ended March 31, 2020 and 2019, the assumptions used in the Monte Carlo simulation valuations, expected lives and fair values were as follows:
| Nine Months Ended March 31,
| 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 vesting term 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 | Unvested Restricted Stock awards at March 31, 2020 consisted of the following:
| Number of Restricted Shares |  | Weighted Average Grant-Date Fair Value
Service-based awards | 171,609 |  |  | $ | 5.95 |
Market-based awards | 129,710 |  |  | 5.10 |
Unvested Restricted Stock at March 31, 2020 | 301,319 |  |  | $ | 5.59 |
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 nine months ended March 31, 2020:
| Number of Restricted Shares |  | Weighted Average Grant-Date Fair Value |  | Unamortized Compensation Expense at March 31, 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 | (87,868 | ) |  | 7.29 |  |  |  |  |
Forfeited | (49,118 | ) |  | 9.35 |  |  |  |  |
Unvested Restricted Stock at March 31, 2020 | 301,319 |  |  | $ | 5.59 |  |  | $ | 1,221,702 |  |  | 1.89
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 March 31, 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 contingent shares at March 31, 2020 | 200,000 |  |  | $ | 3.50 |  |  | $ | 295,235 |  |  | 0.66
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- 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=116856206&loc=d3e5070-113901 + Details
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