Note 11 - Stock-based Compensation

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

(11) Stock-Based Compensation

Stock Option Activity Summary

The Company’s stock option activity for the nine months ended March 31, 2022 is as follows:

	Shares			Weighted Average
	(In thousands)			Exercise Price
Outstanding at June 30, 2021		275		$	5.25
Granted		—			—
Exercised		—			—
Canceled or expired		(122	)		4.96
Outstanding at March 31, 2022		153		$	5.41

The aggregate intrinsic value of options exercisable at March 31, 2022 was $0, as the fair value of the Company’s common stock is less than the exercise prices of these options. The remaining stock-based compensation expense of $0.5 thousand related to stock options will be recognized over a weighted-average period of 0.53 years.

The table below details the Company’s stock options outstanding as of March 31, 2022:

			Options
			Outstanding						Options
			Weighted-						Exercisable
			Average		Weighted-				Weighted-
	Number		Remaining		Average		Number		Average
	Outstanding (In		Contractual		Exercise		Exercisable (In		Exercise
Range of exercise prices	thousands)		Life (Years)		Price		thousands)		Price
$1.85 – 2.83		13		6.50	$	2.08		10	$	2.15
$5.00 – 5.85		88		5.11		5.55		88		5.55
$6.00 – 6.00		52		0.39		6.00		52		6.00
$1.85 – 6.00		153		3.62	$	5.41		150	$	5.49

Compensation costs recognized related to stock option awards were $0 for each of the three months ended March 31, 2022, and 2021 and $1 thousand for each of the nine months ended March 31, 2022 and 2021.

Restricted Stock

The Company’s restricted stock activity for the nine months ended March 31, 2022, is as follows:

				Weighted
				Average
	Shares			Grant-Date
	(In thousands)			Fair Value
Outstanding at June 30, 2021	$	2,023		$	2.05
Granted		—			—
Vested		(693	)		2.08
Canceled or expired		(1	)		2.33
Outstanding at March 31, 2022	$	1,329		$	2.04

Stock compensation expenses related to restricted stock were $368 thousand and $194 thousand for the three months ended March 31, 2022, and 2021, respectively, and $1.2 million and $284 thousand for the nine months ended March 31, 2022 and 2021, respectively. The remaining stock-based compensation expense of $2.7 million related to restricted stock awards granted will be recognized over a weighted-average period of 1.99 years.