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Note 8 - Stockholders' Equity | 6 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Shareholders' Equity and Share-Based Payments [Text Block] | NOTE 8. 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 $0.0075 per month for fiscal year 2024 and through December 2024. In December 2024, the Board authorized the continuance of the monthly dividend of $0.0075 per share from January through March 2025, 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 $5.0 million of its outstanding common shares, as market and business conditions warrant, on the open market in compliance with Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934. 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 Company announced on February 25, 2022, that the Board of Directors of the Company approved an increase to the limit of its annual share buyback program from $2.75 million to $5.0 million. The Company announced on September 19, 2024, that the Board of Directors of the Company approved an update authorizing the Company to repurchase up to $5.0 million of its outstanding common shares between September 13, 2024, and December 31, 2024. The total amount of shares that may be repurchased under the program was $6.5 million in 2024 and is $5.0 million in 2025. The acquired shares may be used for corporate purposes, including shares issued to employees in the Company’s stock-based compensation programs. During the three and six months ended December 31, 2024, the Company repurchased 236,731 and 434,618, respectively, of its class A shares using cash of $587,000 and $1.1 million, respectively. During the three and six months ended December 31, 2023, the Company repurchased 196,295 and 394,508, respectively, of its class A shares using cash of $560,000 and $1.2 million, respectively. The Inflation Reduction Act of 2022, which was enacted in August 2022, imposed a 1% excise tax on stock buybacks by publicly traded corporations, effective on January 1, 2023. Any excise tax incurred is recognized as part of the cost basis of the shares acquired in the Consolidated Statements of Shareholders' Equity. The impact of these provisions was $5,000 and $10,000 for the three and six months ended December 31, 2024, respectively, and $6,000 and $12,000 for the three and six months ended December 31, 2023, respectively. All amounts presented in this report related to the Company's share repurchases and the Company's share repurchase authorization exclude such excise taxes, to the extent applicable, unless otherwise indicated. Stock Option Plans The Company’s stock option plans allow for the granting of class A shares as either incentive or non-qualified stock options to employees and non-employee directors. The terms and conditions of these options, including exercise price, vesting schedule, and expiration, are determined by the Compensation Committee of the Board of Directors. Under the 1989 Plan, there were 100,100 nonvested stock options outstanding as of December 31, 2024, with a weighted average exercise of $2.44. Additionally, there were 228,000 and 229,000 stock options outstanding and exercisable as of December 31, 2024, and December 31, 2023, respectively, with a weighted average exercise price of $6.05. Under the 1997 Plan, there were 2,000 stock options outstanding and exercisable as of both December 31, 2024, and December 31, 2023, with a weighted average exercise price of $2.74. Stock Option Activity During the three and six months ended December 31, 2024, the Company granted 100,100 stock options with a weighted average grant date fair value price of $1.08 and a vesting period of six months. The fair value of the options was estimated using the Black-Scholes option pricing model. Additionally, during the three and six months ended December 31, 2024, 1,000 stock options were forfeited, and no stock options were exercised. During the three and six months ended December 31, 2023, no stock options were granted, forfeited, or exercised. Share-Based Compensation Expense The Company measures share-based compensation expense at the grant date, based on the fair value of the awards. This expense is recognized ratably over the awards’ vesting period. For the three and six months ended December 31, 2024, the Company recognized share-based compensation expense of $11,000. As of December 31, 2024, the total unrecognized share-based compensation cost related to nonvested awards was $97,000, which is expected to be recognized over a weighted average period of 0.48 years. For the three and six months ended December 31, 2023, no share-based compensation expense was recognized. As of December 31, 2023, there were no unrecognized share-based compensation costs related to share-based awards under the plans.

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- 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 -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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