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Stock-Based Incentive Plan (Tables)

9 Months Ended

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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Tabular disclosure of the changes in outstanding nonvested shares.

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