Note 11 - Stock-based Compensation

9 Months Ended

Mar. 31, 2023

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, 2023 is as follows:

	Shares			Weighted Average Exercise Price
Outstanding at June 30, 2022		34,284		$	40.41
Granted		5,162			13.20
Exercised		—			—
Canceled or expired		(2,414	)		174.08
Outstanding at March 31, 2023		37,032		$	27.91

The aggregate intrinsic value of options exercisable at March 31, 2023 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 $399 thousand related to stock options will be recognized over a weighted-average period of 2.08 years.

The table below details the Company’s stock options outstanding as of March 31, 2023:

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
$	13.20 - 19.20		34,361		9.10	$	18.30		—	$	—
$	55.50 - 84.90		431		5.51		62.22		431		62.22
$	159.00 - 175.50		2,240		4.11		168.82		2,240		168.82
$	13.20 - 175.50		37,032		9.00	$	27.91		2,671	$	151.62

Compensation costs recognized related to stock option awards were $47 thousand and $0 for each of the three months ended March 31, 2023 and 2022, respectively. Compensation costs recognized related to stock option awards were $142 thousand and $1 thousand for each of the nine months ended March 31, 2023 and 2022, respectively.

Restricted Stock

The Company’s restricted stock activity for the nine months ended March 31, 2023, is as follows:

	Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2022	75,873		$	39.00
Granted	2,150			11.83
Vested	(17,852	)		60.60
Canceled or expired	(55	)		60.60
Outstanding at March 31, 2023	60,116		$	31.52

Stock compensation expenses related to restricted stock were $309 thousand and $368 thousand for the three months ended March 31, 2023 and 2022, respectively. Stock compensation expenses related to restricted stock were $1.0 million and $1.2 million for the nine months ended March 31, 2023 and 2022, respectively. The remaining stock-based compensation expense of $1.7 million related to restricted stock awards granted will be recognized over a weighted-average period of 2.00 years.