v2.4.0.8
Note 3 - Stock Based Compensation
 3 Months Ended
Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

3.     Stock Based Compensation


The following table summarizes the components of our stock based compensation program expense (in thousands):


   

For three months ended

September 30,

 
   

2013

   

2012

 
                 

Stock compensation expense for options, net of forfeitures

  $ 74     $ 106  

Stock compensation expense for restricted stock, net of forfeitures

    471       475  

Stock compensation income for stock appreciation rights, including forfeitures

    ---       (44 )

Total stock compensation expense (income)

  $ 545     $ 537  

As of September 30, 2013, we have approximately $0.2 million of unrecognized compensation cost related to unvested options granted under the Company's 2006 Omnibus Incentive Plan, as amended (the "2006 Plan"). This cost is expected to be recognized over a weighted-average period of 0.6 year and a total period of 1.5 years.


A summary of the award activity of the Company's stock option plans as of September 30, 2012, and changes during the three-month period then ended is presented below:


Options

 

Option Totals

   

Weighted-Average

Exercise

Price per Share

 
                 

Outstanding at July 1, 2013

    1,148,790     $ 10.76  

Granted

    ---       ---  

Exercised

    100,037     $ 12.81  

Forfeited or expired

    1,750     $ 12.79  

Outstanding at September 30, 2013

    1,047,003     $ 9.62  

Exercisable at September 30, 2013

    989,003     $ 9.73  

As of September 30, 2013, we also have approximately $4.0 million of unrecognized compensation expense related to restricted stock awards, which is anticipated to be recognized over a weighted-average period of 2.4 years and a total period of 3.3 years. A summary of the restricted stock award activity under the 2006 Plan as of September 30, 2013, and changes during the three-month period then ended is presented below:


   

Number of Restricted

Stock Awards

   

Weighted-Average

Grant Date Fair Value

 
                 

Unvested at July 1, 2013

    355,963     $ 15.75  

Granted

    ---       ---  

Vested and Issued

    ---       ---  

Forfeited

    4,525     $ 12.40  

Outstanding at September 30, 2013

    351,438     $ 15.79  

The fair value of each restricted stock award is based on the closing market price on the date of grant.


The Company had no outstanding stock appreciation rights as of September 30, 2013 and 143,156 outstanding stock appreciation rights as of September 30, 2012. These stock appreciation rights were granted at a fair value market price of $8.64 based on the closing market price on the date of the grant. All stock rights vested and were paid out in the December 2012 quarter.