Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans

6 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans

Common Stock Incentive, Stock Purchase Plans, and Other Compensation Plans

Stock Option Activity Summary

The Company’s stock option activity for the six months ended December 31, 2015 is as follows:



	Shares		Weighted Average Exercise Price
Outstanding at June 30, 2015	1,127,750		$	1.53
Granted	—		—
Exercised	—		—
Canceled or expired	(310,000	)	2.53
Outstanding at December 31, 2015	817,750		$	1.14

The aggregate intrinsic value of options exercisable at December 31, 2015 was $0.5 million as the fair value of the Company’s common stock is more than the exercise prices of these options. The aggregate fair value of all options outstanding at December 31, 2015 was $0.8 million.

The table below details the Company’s stock options outstanding as of December 31, 2015:



Range of exercise prices	Number Outstanding	Options Outstanding Weighted- Average Remaining Contractual Life (years)	Weighted- Average Exercise Price		Number Exercisable	Options Exercisable Weighted- Average Exercise Price
$0.32 – 0.71	438,750	4.66	$	0.60	438,750	$	0.60
$1.20 – 1.20	270,000	6.64	1.20		270,000	1.20
$3.20 – 3.20	109,000	9.27	3.20		—	—
$0.32 – 3.20	817,750	5.93	$	1.14	708,750	$	0.83

Compensation costs recognized related to stock option awards were $17 thousand and $3 thousand for the three months ended December 31, 2015 and 2014, respectively, and $71 thousand and $4 thousand for the six months ended December 31, 2015 and 2014, respectively. There were no options granted during the six months ended December 31, 2015 and 2014.

Restricted Stock

No restricted stock was granted, vested, canceled, or expired during the six months ended December 31, 2015. Stock compensation expense related to restricted stock was $89 thousand and $0 for the three months ended December 31, 2015 and 2014, respectively, and $178 thousand and $0 for the six months ended December 31, 2015 and 2014, respectively.

Treasury Stock

On December 12, 2014, the Board of Directors amended the stock repurchase program to allow for the repurchase of up to $5 million more treasury shares until December 31, 2015. On December 3, 2015, our Board of Directors authorized the extension of the share repurchase program through December 31, 2016. During the six months ended December 31, 2015, the Company repurchased 43 thousand shares at a cost of $117 thousand. As of December 31, 2015, we have repurchased 1.2 million shares at a cost of $2.8 million. There were no stock repurchases during the six months ended December 31, 2014.