XML 31 R19.htm IDEA: XBRL DOCUMENT v3.4.0.3
Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans
 9 Months Ended
Mar. 31, 2016
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 nine months ended March 31, 2016 is as follows:
 
 
Shares
 
Weighted Average
Exercise Price
Outstanding at June 30, 2015
1,127,750

 
$
1.53

Granted
170,000

 
1.50

Exercised
(16,000
)
 
1.09

Canceled or expired
(324,000
)
 
2.56

Outstanding at March 31, 2016
957,750

 
$
1.18


 
The aggregate intrinsic value of options exercisable at March 31, 2016 was $0.6 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 March 31, 2016 was $0.9 million.
 
The table below details the Company’s stock options outstanding as of March 31, 2016:

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
 
432,750

 
4.40
 
$
0.60

 
432,705

 
$
0.60

$1.20 – 1.50
 
430,000

 
7.78
 
1.32

 
430,000

 
1.32

$3.20 – 3.20
 
95,000

 
9.02
 
3.20

 
—

 
—

$0.32 – 3.20
 
957,750

 
6.38
 
$
1.18

 
862,705

 
$
0.86


 
Compensation costs recognized related to stock option awards were $190 thousand and $9 thousand for the three months ended March 31, 2016 and 2015, respectively, and $265 thousand and $58 thousand for the nine months ended March 31, 2016 and 2015, respectively.
 
Restricted Stock
 
No restricted stock was granted, vested, or expired during the nine months ended March 31, 2016. 104,167 shares of restricted stock were canceled during the nine months ended March 31, 2016. Stock compensation expense related to restricted stock was $(21) thousand and $0 for the three months ended March 31, 2016 and 2015, respectively, and $157 thousand and $0 for the nine months ended March 31, 2016 and 2015, 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.

Treasury share repurchases for the nine months ended March 31, 2016 were 43 thousand shares at a cost of $117 thousand. During the nine months ended March 31, 2015, the Company repurchased 213 thousand shares at a cost of $538 thousand. As of March 31, 2016, we have repurchased a total of 1.2 million shares at a cost of $2.8 million.