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Note H - Stockholders' Equity | 12 Months Ended
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Jun. 30, 2019
Notes to Financial Statements |
Stockholders' Equity Note Disclosure [Text Block] | H. Stockholders’ Equity Treasury Stock On June 2, 2011, the Board of Directors authorized the repurchase of up to $2.0 million of our common stock. On February 6, 2015, the Board of Directors authorized a $1.0 million increase to our stock repurchase plan bringing the total authorized repurchase amount to $3.0 million. On May 11, 2015, the Board of Directors authorized a $2.0 million increase to our stock repurchase plan bringing the total authorized repurchase amount to $5.0 million. On March 28, 2017, the Board of Directors authorized a $2.0 million increase to our stock repurchase plan bringing the total authorized repurchase amount to $7.0 million. Under the repurchase plan, we may, from time to time, purchase shares of our common stock, depending upon market conditions, in open market or privately negotiated transactions. During the year ended June 30, 2019, we repurchased 76,272 shares at a weighted average cost of $10.97 per share and a total cost of $837,000 including commissions and fees. During the year ended June 30, 2018, we did not repurchase any shares of our common stock under the repurchase plan. During fiscal 2019, we acquired 47,065 shares in connection with restricted stock shares that vested during that year at a weighted average cost of $11.26 per share and a total cost of $530,000. During fiscal 2018, we acquired 43,610 shares in connection with restricted stock shares that vested during that year at a weighted average cost of $11.68 per share and a total cost of $510,000. These shares were returned to us by the related employees and in return we paid each employee’s required tax withholding resulting from the vesting of restricted shares. The valuation of the shares acquired and thereby the number of shares returned to us was calculated based on the closing share price on the date the shares vested. Stock Incentive Plans Stock option activity for the year ended June 30, 2019 was as follows:
|  | 2009 Plan |  |  | Weighted Average Exercise Price |  |  | Weighted Average Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Vested and exercisable at June 30, 2018 |  |  | 135,000 |  |  | $ | 6.32 |  |  |  |  |  |  |  |  |
Exercised |  |  | (5,000 | ) |  | $ | 7.50 |  |  |  |  |  |  |  |  |
Forfeited |  |  | — |  |  | $ | — |  |  |  |  |  |  |  |  |
Granted |  |  | — |  |  | $ | — |  |  |  |  |  |  |  |  |
Outstanding at June 30, 2019 |  |  | 130,000 |  |  | $ | 6.28 |  |  |  | 1.59 |  |  | $ | 700,000 |
Vested and exercisable at June 30, 2019 |  |  | 130,000 |  |  | $ | 6.28 |  |  |  | 1.59 |  |  | $ | 700,000 |
Restricted stock activity for the year ended June 30, 2019 was as follows:
|  | Number of Shares – 2009 Plan |  |  | Number of Shares outside of 2009 Plan |  |  | Weighted Average Grant Date Fair Value |
Nonvested at June 30, 2018 |  |  | 356,989 |  |  |  | 500,000 |  |  | $ | 9.90 |
Granted |  |  | 190,000 |  |  |  | — |  |  | $ | 11.57 |
Vested |  |  | (158,001 | ) |  |  | (100,000 | ) |  | $ | 10.06 |
Forfeited |  |  | (5,000 | ) |  |  | (400,000 | ) |  | $ | 9.82 |
Nonvested at June 30, 2019 |  |  | 383,988 |  |  |  | — |  |  | $ | 10.70 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + 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 + Details
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