Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans

3 Months Ended

Sep. 30, 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 three months ended September 30, 2015 was as follows:

	Shares (in thousands)		Weighted Average Exercise Price
Outstanding at June 30, 2015	1,128		$	1.53
Granted	—		—
Exercised	—		—
Canceled or expired	(10	)	0.45
Outstanding at September 30, 2015	1,118		$	1.54

The aggregate fair value of options exercisable at September 30, 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 September 30, 2015 was $0.9 million.

The table below details the Company’s stock options outstanding as of September 30, 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	4.91	$	0.60	438,750	$	0.60
$1.20 – 2.60	570,000	8.10	1.94		282,500	1.20
$3.20 – 3.20	109,000	9.52	3.20		—	—
$0.32 – 3.20	1,117,750	6.57	$	1.54	721,250	$	0.83

Compensation costs recognized related to stock option awards were $54 thousand and $0 for the three months ended September 30, 2015 and 2014, respectively. There were no options granted during the three months ended September 30, 2015 and 2014.

Restricted Stock

No restricted stock was granted, vested, canceled, or expired during the three months ended September 30, 2015. Stock compensation expense related to restricted stock was $89 thousand and $1 thousand for the three months ended September 30, 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. During the three months ended September 30, 2015, the Company repurchased 43 thousand shares at a cost of $117 thousand. As of September 30, 2015 we have repurchased 1.2 million shares at a cost of $2.8 million. There were no stock repurchases during the three months ended September 30, 2014.