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Stock-Based Compensation (Tables) | 12 Months Ended
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Jun. 30, 2023
Stock Based Compensation [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, 2023 and 2022.
|  | 2023 |  | 2022
Dividend yield |  | 0.03% |  | —
Expected stock price volatility |  | 27.20% |  | 25.60%
Risk-free interest rate |  | 2.71% |  | 0.99%
Expected option life (in years) |  | 5.4yrs |  | 5.4yrs
Weighted average fair value per share of options granted during the period |  | $4.18 |  | $3.74
Schedule of Stock Option Activity | The following table summarizes stock option activity during the twelve months ended June 30, 2023:
|  | 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, 2022 |  |  | 246,273 |  |  | $ | 20.89 |  |  |  | 6.73 |  |  |  |  |
Granted |  |  | 74,200 |  |  | $ | 13.81 |  |  |  | 9.12 |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |
Forfeited or expired |  |  | (24,142 | ) |  | $ | 20.46 |  |  |  | — |  |  |  |  |
Outstanding at June 30, 2023 |  |  | 296,331 |  |  | $ | 19.15 |  |  |  | 6.49 |  |  | $ | 338,243 |
Vested or expected to vest at June 30, 2023 |  |  | 283,745 |  |  | $ | 19.40 |  |  |  | 6.38 |  |  | $ | 298,723 |
Exercisable at June 30, 2023 |  |  | 163,731 |  |  | $ | 23.13 |  |  |  | 4.74 |  |  | $ | 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, 2023:
|  |  |  |  | Weighted |
|  | Number of |  |  | Average |
|  | Shares |  |  | Grant Date |
|  | Subject |  |  | Fair Value |
|  | to Option |  |  | (per Option) |
Non-Vested at July 1, 2022 |  |  | 104,175 |  |  | $ | 2.92 |
Granted |  |  | 74,200 |  |  |  | 4.18 |
Vested |  |  | (34,075 | ) |  |  | 1.59 |
Forfeited or expired |  |  | (11,700 | ) |  |  | 2.75 |
Non-Vested at June 30, 2023 |  |  | 132,600 |  |  | $ | 3.98 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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