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Stock-Based Incentive Plan (Tables) | 12 Months Ended
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Jun. 30, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Valuation Assumptions | June 30, 2021 and 2020, the assumptions used in the Monte Carlo simulation valuations, expected lives and fair values were as follows:
| Year Ended June 30,
| 2021 |  | 2020
Weighted average fair value of market-based awards granted | $ | 3.08 |  |  | $ | 3.79 |
Risk-free interest rate | 0.23 | % |  | 1.65% to 1.87%
Expected life in years | 2.56 |  | 1.35 to 2.56
Expected volatility | 56.9 | % |  | 38.6% to 43.7%
Dividend yield | 3.2 | % |  | 6% to 7.2%
Schedule of Restricted Stock transactions | Unvested Restricted Stock awards at June 30, 2021 consisted of the following:
Award Type | Number of Restricted Shares |  | Weighted Average Grant-Date Fair Value
Service-based awards | 348,762 |  |  | $ | 3.37 |
Market-based awards | 320,533 |  |  | 3.38 |
Unvested at June 30, 2021 | 669,295 |  |  | $ | 3.37 |
The following table sets forth the Restricted Stock transactions for the year ended June 30, 2021:
| Number of Restricted Shares |  | Weighted Average Grant-Date Fair Value |  | Unamortized Compensation Expense at June 30, 2021 |  | Weighted Average Remaining Amortization Period (Years)
Unvested at July 1, 2020 | 285,028 |  |  | $ | 5.53 |  |  | $ | — |  |  |
Service-based shares granted | 365,479 |  |  | 2.97 |  |  |  |  |
Market-based shares granted | 246,160 |  |  | 3.07 |  |  |  |  |
Vested | (176,848) |  |  | 5.09 |  |  |  |  |
Forfeited | (50,524) |  |  | 5.15 |  |  |  |  |
Unvested at June 30, 2021 | 669,295 |  |  | $ | 3.37 |  |  | $ | 1,530,550 |  |  | 1.88
for the year ended June 30, 2021:
| Number of Restricted Stock Units |  | Weighted Average Grant-Date Fair Value |  | Unamortized Compensation Expense at June 30, 2021 |  | Weighted Average Remaining Amortization Period (Years)
Unvested at July 1, 2020 | 200,000 |  |  | $ | 3.50 |  |  |  |  |
Market-based awards granted | 123,080 |  |  | 1.76 |  |  |  |  |
Vested | — |  |  | — |  |  |  |  |
Unvested at June 30, 2021 | 323,080 |  |  | $ | 2.84 |  |  | $ | 169,257 |  |  | 2.00
Schedule of Restricted Stock Activity | The following is a summary of Restricted Stock that vested during the last two fiscal years:
| Year Ended June 30,
| 2021 |  | 2020
Vesting-date intrinsic value of Restricted Stock | $ | 570,711 |  |  | $ | 477,647 |
Grant-date fair value of vested Restricted Stock | $ | 900,007 |  |  | $ | 748,893 |
Number of awards that vested | 176,848 |  |  | 104,159 |
The following is a summary of Contingent Restricted Stock vestings for the last two fiscal years:
| Year Ended June 30,
| 2021 |  | 2020
Vest-date intrinsic value of Contingent Restricted Stock | $ | — |  |  | $ | 60,225 |
Grant-date fair value of vested Contingent Restricted Stock | $ | — |  |  | $ | 34,734 |
Number of awards that vested | — |  |  | 10,156 |

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