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Stock-based Compensation (Tables) | 12 Months Ended
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Jun. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of weighted average assumptions for option awards | The table below outlines the weighted average assumptions that the Company used to calculate the fair value of each option award for the year ended June 30, 2020 and 2019.
|  | 2020 |  |  | 2019 |
Dividend yield |  |  | 4.88% |  |  |  | 3.68% |
Expected stock price volatility |  |  | 27.81% |  |  |  | 27.63% |
Risk-free interest rate |  |  | 1.67% |  |  |  | 2.70% |
Expected option life (in years) |  |  | 5.3 yrs |  |  |  | 5.2 yrs |
Weighted average fair value per share |  |  |  |  |  |  |  |
of options granted during the period |  | $ | 3.03 |  |  | $ | 5.13 |
Schedule of stock option activity | The following table summarizes stock option activity during the twelve months ended June 30, 2020:
|  | Employee Stock Options Plan
|  |  |  |  |  | Weighted |  |
|  | Number of |  | Weighted |  | Average |  |
|  | Shares |  | Average |  | Remaining |  | Aggregate
|  | Subject |  | Exercise |  | Contractual |  | Intrinsic
|  | to Option |  | Price |  | Term |  | Value
Balance at July 1, 2019 |  |  | 259,164 |  |  | $ | 25.16 |  |  |  | 6.37 |  |  |  |  |
Granted |  |  | 54,025 |  |  | $ | 20.50 |  |  |  | 9.44 |  |  |  |  |
Exercised |  |  | (3,600 | ) |  | $ | 22.50 |  |  |  | — |  |  |  |  |
Forfeited or expired |  |  | (32,877 | ) |  | $ | 25.05 |  |  |  | — |  |  |  |  |
Outstanding at June 30, 2020 |  |  | 276,712 |  |  | $ | 24.30 |  |  |  | 6.10 |  |  | $ | 0 |
Vested or expected to vest at June 30, 2020 |  |  | 261,573 |  |  | $ | 24.34 |  |  |  | 5.93 |  |  | $ | 0 |
Exercisable at June 30, 2020 |  |  | 179,520 |  |  | $ | 24.63 |  |  |  | 4.54 |  |  | $ | 0 |
Schedule of changes in non-vested stock options | The following table summarizes changes in non-vested stock options during the twelve months ended June 30, 2020:
|  |  |  |  | Weighted |
|  | Number of |  |  | Average |
|  | Shares |  |  | Grant Date |
|  | Subject |  |  | Fair Value |
|  | to Option |  |  | (per Option) |
Non-Vested at July 1, 2019 |  |  | 104,214 |  |  | $ | 4.08 |
Granted |  |  | 54,025 |  |  |  | 3.03 |
Vested |  |  | (45,920 | ) |  |  | 2.93 |
Forfeited or expired |  |  | (15,127 | ) |  |  | 4.11 |
Non-Vested at June 30, 2020 |  |  | 97,192 |  |  | $ | 4.03 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: 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
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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=120381028&loc=d3e5070-113901 + Details
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