Note 11 - Stock-based Compensation

9 Months Ended

Mar. 31, 2024

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, 2024 is as follows:

	Shares			Weighted Average Exercise Price
Outstanding at June 30, 2023		38,166		$	27.34
Granted		120,440			10.12
Exercised		—			—
Canceled or expired		(10,440	)		10.80
Outstanding at March 31, 2024		148,166		$	14.51

The aggregate intrinsic value of options exercisable at March 31, 2024 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 $1.0 million related to stock options will be recognized over a weighted-average period of 2.21 years.  The aggregate intrinsic value of options exercisable at  March 31, 2024 was $0 as the fair value of the Company’s common stock is less than the exercise prices of these options. The aggregate intrinsic value of all options outstanding at  March 31, 2024 was $1 thousand.

The table below details the Company’s stock options outstanding as of March 31, 2024:

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
$	7.47 - 19.20		145,541		9.15	$	12.03		11,534	$	18.12
$	55.50 - 84.90		418		4.62		61.52		418		61.52
$	159.00 - 175.50		2,207		3.11		168.97		2,207		168.97
$	7.47 - 175.50		148,166		9.05	$	14.51		14,159	$	42.91

Compensation costs recognized related to stock option awards were $134 thousand and $47 thousand for each of the three months ended March 31, 2024 and 2023, respectively.  Compensation costs recognized related to stock option awards were $338 thousand and $142 thousand for each of the nine months ended March 31, 2024 and 2023, respectively.

Restricted Stock

The Company’s restricted stock activity for the nine months ended March 31, 2024, is as follows:

	Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2023	50,671		$	33.43
Granted	20,000			10.10
Vested	(18,010	)		58.66
Canceled or expired	-			0.00
Outstanding at March 31, 2024	52,661		$	15.94

Stock compensation expenses related to restricted stock were $304 thousand and $309 thousand for the three months ended March 31, 2024 and 2023, respectively. Stock compensation expenses related to restricted stock were $937 thousand and $1.0 million for the nine months ended March 31, 2024 and 2023, respectively.  The remaining stock-based compensation expense of $611 thousand related to restricted stock awards granted will be recognized over a weighted-average period of 2.73 years.