Note 11 - Stock-based Compensation

3 Months Ended

Sep. 30, 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 three months ended September 30, 2024 is as follows:

	Shares			Weighted Average Exercise Price
Outstanding at June 30, 2024		156,628		$	14.18
Granted		66,210			11.10
Exercised		—			—
Canceled or expired		(5,927	)		9.39
Outstanding at September 30, 2024		216,911		$	13.37

The aggregate intrinsic value of options exercisable at September 30, 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  September 30, 2024 was $1 thousand.

The table below details the Company’s stock options outstanding as of September 30, 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		214,286		9.08	$	11.67		54,626	$	13.45
$	55.50 - 84.90		418		4.11		61.52		418		61.52
$	159.00 - 175.50		2,207		2.61		168.97		2,207		168.97
$	7.47 - 175.50		216,911		9.00	$	13.37		57,251	$	19.79

Compensation costs recognized related to stock option awards were $155 thousand and $56 thousand for each of the three months ended September 30, 2024 and 2023, respectively. The remaining stock-based compensation expense of  $1.5 million related to stock options will be recognized over a weighted-average period of 2.32 years.

Restricted Stock

The Company’s restricted stock activity for the three months ended September 30, 2024, is as follows:

	Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2024	43,773		$	15.36
Granted	—			—
Vested	(6,668	)		10.10
Canceled or expired	—			—
Outstanding at September 30, 2024	37,105		$	16.30

Stock compensation expenses related to restricted stock were $61 thousand and $308 thousand for the three months ended September 30, 2024 and 2023, respectively.  The remaining stock-based compensation expense of $489 thousand related to restricted stock awards granted will be recognized over a weighted-average period of 2.27 years.