XML 22 R14.htm IDEA: XBRL DOCUMENT
v3.21.4

STOCKHOLDERS' EQUITY | 3 Months Ended
--- | ---
Sep. 30, 2021
Disclosure Text Block Supplement [Abstract] |
Shareholders' Equity and Share-based Payments [Text Block] | NOTE 7. STOCKHOLDERS’ EQUITY Payment of cash dividends is within the discretion of the Company’s board of directors and is dependent on earnings, operations, capital requirements, general financial condition of the Company, and general business conditions. The dividend rate per share was $0.0025 per month for July 2020 through January 2021 and $0.0050 per month for February 2021 through September 2021. In September 2021, the Board authorized an increase in the monthly dividend to $0.0075 per share from October through December 2021, and in December 2021, the Board authorized the continuance of the monthly dividend of $0.0075 per share from January through March 2022, at which time it will be considered for continuation by the Board. The Company has a share repurchase program, approved by the Board of Directors, authorizing the Company to annually purchase up to $2.75 million of its outstanding common shares, as market and business conditions warrant, on the open market in compliance with Rule 10b-18 of the Securities Exchange Act of 1934 through December 31, 2022. The repurchase program has been in place since December 2012, and the Board of Directors has annually renewed the repurchase program each calendar year. The acquired shares may be used for corporate purposes, including shares issued to employees in the Company’s stock-based compensation programs. For the three months ended September 30, 2021, and 2020, the Company repurchased 13,647 and 1,000 class A shares using cash of $82,000 and $2,000, respectively. The Company’s stock option plans provide for the granting of class A shares as either incentive or nonqualified stock options to employees and non-employee directors. Options are subject to terms and conditions determined by the Compensation Committee of the Board of Directors. At September 30, 2021, there were 231,000 options outstanding and nonvested under the 1989 Plan at a weighted average exercise price of $6.05, and 2,000 options outstanding and exercisable under the 1997 Plan, at a weighted average exercise price of $2.74. At September 30, 2020, there were 2,000 options outstanding and exercisable under the 1997 Plan, at a weighted average exercise price of $2.74. There were no options granted, forfeited, or exercised for the three months ended September 30, 2021, or 2020. Stock-based compensation expense is measured at the grant date based on the fair value of the award, and the cost is recognized as expense ratably over the award’s vesting period. For the three months ended September 30, 2021, $388,000 was recognized as compensation expense. There was no stock-based compensation expense for the three months ended September 30, 2020. As of September 30, 2021, $345,000 of total unrecognized compensation costs related to nonvested stock options were expected to be recognized over a weighted average period of 0.2 years. As of September 30, 2020, there was no unrecognized share-based compensation cost related to share-based awards granted under the plans.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockSupplementAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_ShareholdersEquityAndShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration