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Note J - Treasury Stock | 9 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
Equity [Text Block] | J. Treasury Stock We purchase shares under a stock repurchase plan (“Repurchase Plan”) authorized by the Board of Directors. On December 2, 2022, the Board of Directors authorized a $1.0 million increase to the Repurchase Plan, thus bringing the total authorized repurchase to $19.0 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. Stock repurchases for the three months ended March 31, 2023 were as follows:
|  | Shares |  |  | Average Cost |  |  | Total Cost (in thousands) |
Shares purchased under Repurchase Plan |  |  | 25,447 |  |  | $ | 9.23 |  |  | $ | 235 |
Shares acquired from employees for restricted stock vesting |  |  | 23,587 |  |  |  | 8.86 |  |  |  | 209 |
Total |  |  | 49,034 |  |  |  |  |  |  | $ | 444 |
Stock repurchases for the nine months ended March 31, 2023 were as follows:
|  | Shares |  |  | Average Cost |  |  | Total Cost (in thousands) |
Shares purchased under Repurchase Plan |  |  | 140,812 |  |  | $ | 9.19 |  |  | $ | 1,294 |
Shares acquired from employees for restricted stock vesting |  |  | 23,587 |  |  |  | 8.86 |  |  |  | 209 |
Total |  |  | 164,399 |  |  |  |  |  |  | $ | 1,503 |
Stock repurchases for the three months ended March 31, 2022 were as follows:
|  | Shares |  |  | Average Cost |  |  | Total Cost (in thousands) |
Shares purchased under Repurchase Plan |  |  | 179,810 |  |  | $ | 12.62 |  |  | $ | 2,269 |
Shares acquired from employees for restricted stock vesting |  |  | 27,161 |  |  |  | 11.00 |  |  |  | 299 |
Total |  |  | 206,971 |  |  |  |  |  |  | $ | 2,568 |
Stock repurchases for the nine months ended March 31, 2022 were as follows:
|  | Shares |  |  | Average Cost |  |  | Total Cost (in thousands) |
Shares purchased under Repurchase Plan |  |  | 369,512 |  |  | $ | 12.98 |  |  | $ | 4,796 |
Shares acquired from employees for restricted stock vesting |  |  | 27,853 |  |  |  | 11.08 |  |  |  | 309 |
Total |  |  | 397,365 |  |  |  |  |  |  | $ | 5,105 |
Stock repurchase costs include commissions and fees. Shares acquired from employees for restricted stock vesting 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.

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