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Stock Based Compensation (Tables) | 6 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Fair Value Assumptions | The table below outlines the weighted average assumptions that the Company used to calculate the fair value of each option award for the six months ended December 31, 2021 and 2020.
|  | December 31, 2021 |  | December 31, 2020 |
Dividend yield |  |  | 0% |  |  | 5.54% |
Company’s expected volatility |  |  | 25.56% |  |  | 23.41% |
Risk-free interest rate |  |  | 0.93% |  |  | 0.36% |
Expected term |  |  | 5.4 yrs |  |  | 5.4 yrs |
Weighted average fair value per share of options granted during the period |  |  | $3.72 |  |  | $1.59 |
Schedule of Stock Option Activity | The following table summarizes stock option activity during the six months ended December 31, 2021:
|  | 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, 2021 |  |  |  | 304,662 |  |  | $ | 23.37 |  |  |  | 6.06 |  |  |  |  |
Granted |  |  |  | 77,550 |  |  | $ | 14.76 |  |  |  | 9.56 |  |  |  |  |
Exercised |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |
Forfeited or expired |  |  |  | (56,100) |  |  | $ | 20.53 |  |  |  | — |  |  |  |  |
Outstanding at December 31, 2021 |  |  |  | 326,112 |  |  | $ | 21.81 |  |  |  | 6.49 |  |  | $ | 2,116 |
Vested or expected to vest at December 31, 2021 |  |  |  | 307,578 |  |  | $ | 22.16 |  |  |  | 6.32 |  |  | $ | 2,029 |
Exercisable at December 31, 2021 |  |  |  | 220,287 |  |  | $ | 24.58 |  |  |  | 5.15 |  |  | $ | 0 |
Schedule of Changes in Non-Vested Stock Options | The following table summarizes changes in non-vested stock options during the six months ended December 31, 2021:
|  |  | Weighted Number |  |  |  | Average |
|  |  | of Shares Subject to Option |  |  |  | Grant Date Fair Value (per Option) |
Non-vested at July 1, 2021 |  |  | 103,450 |  |  | $ | 2.22 |
Granted |  |  | 77,550 |  |  | $ | 3.72 |
Vested |  |  | (43,025) |  |  | $ | 3.03 |
Forfeited or expired |  |  | (32,150) |  |  | $ | 2.58 |
Non-vested at December 31, 2021 |  |  | 105,825 |  |  | $ | 2.89 |

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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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