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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay Versus Performance

 

The following information under the “Pay Versus Performance” heading should not be deemed filed or incorporated by reference into any of the Corporation’s other filings under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent the Corporation specifically incorporates this report by reference therein.

 

In accordance with rules adopted by the Securities and Exchange Commission (“SEC”), the following table presents information regarding compensation paid to our Chief Executive Officer (the “CEO”) and our other named executive officers shown in the Summary Compensation Table (collectively, the “Non-CEO NEOs”). The amounts set forth below under the headings “Compensation Actually Paid to CEO” and “Average Compensation Actually Paid to Non-CEO NEOs” have been calculated in a manner prescribed by the SEC rules and do not necessarily align with how the Corporation or the Committee views the link between our performance and pay of our named executive officers. The footnotes below set forth the adjustments from the total compensation for each of our NEOs reported in the Summary Compensation Table above. As permitted under the rules applicable to smaller reporting companies, we are including three years of data and are not including a peer group total shareholder return or company-selected measure.

 

Fiscal

Year

Ended

June 30

(1)

  

Summary

Compensation

Table Total

for CEO (1)

    

Compensation

Actually Paid

to CEO (2)

    

Average Summary

Compensation

Table Total for

Non-CEO NEOs (1)

    

Average

Compensation

Actually Paid

to Non-CEO

NEOs (2)

    

Value of Initial

Fixed $100

Investment

Based on Total

Shareholder

Return (3)

    

Net Income

(in thousands)

  

2025

   $ 2,411,245     $ 2,134,915     $ 1,156,197     $ 1,022,434     $ 100.67     $ (1,894 )

2024

   $ 2,566,513     $ 2,877,213     $ 1,208,521     $ 1,328,191     $ 133.26     $ 10,988  

2023

   $ 2,311,564     $ 3,097,928     $ 1,113,200     $ 1,369,844     $ 126.09     $ 10,380  

 

(1) The amounts reported in the “Summary Compensation Table Total for CEO” column are the amounts of total compensation reported for John H. Batten for each corresponding fiscal year in the “Total” column of the Summary Compensation Table. The amounts reported in the “Average Summary Compensation Table Total for Non-CEO NEOs” column are the amounts of total compensation reported for Jeffrey S. Knutson for each corresponding year in the “Total” column of the Summary Compensation Table.

 

(2) The following amounts were added and deducted from the Summary Compensation Table amounts to determine the compensation actually paid to the Corporation’s CEO and the Non-CEO NEOs in accordance with SEC regulations:

    
PEO Total Compensation Amount $ 2,411,245 $ 2,566,513 $ 2,311,564
PEO Actually Paid Compensation Amount $ 2,134,915 2,877,213 3,097,928
Adjustment To PEO Compensation, Footnote

 

   

CEO

    

Non-CEO NEO Average

  
   

2025

    

2024

    

2023

    

2025

    

2024

    

2023

  

Summary Compensation Table (SCT) Total

   $ 2,411,245     $ 2,566,513     $ 2,311,564     $ 1,156,197     $ 1,208,521     $ 1,113,200  

Minus amounts reported under “Stock Awards” column in SCT

   $ 1,033,830     $ 1,052,203     $ 1,092,881     $ 507,613     $ 516,632     $ 536,605  

Minus amounts reported under “Option Awards” column in SCT

     —       —       —       —       —       —  

Plus fair value (as of fiscal year-end) of awards granted during fiscal year that remain outstanding and unvested as of fiscal year-end

   $ 672,714     $ 969,871     $ 1,358,260     $ 330,304     $ 476,207     $ 666,907  

Plus/minus change in fair value from prior fiscal year-end to current fiscal year-end of awards granted in any prior fiscal year that are outstanding and unvested as of fiscal year-end

   $ 67,221     $ 316,947     $ 326,645     $ 33,008     $ 124,589     $ 117,059  

Plus increase in fair value (as of vesting date) of awards granted during fiscal year that vest during the same fiscal year

     —       —       —       —       —       —  

Plus/minus change in fair value (as of vesting date) from prior fiscal year-end to vesting date of awards granted in any prior fiscal year that vested during fiscal year

   $ 17,565     $ 76,085     $ 194,340     $ 10,539     $ 35,506     $ 9,283  

Minus fair value (as of end of prior fiscal year) of awards granted in any prior fiscal year that were forfeited during fiscal year

     —       —       —       —       —       —  

Plus value of dividends or other earnings paid on stock or option awards during fiscal year prior to vesting date not included in SCT total compensation

     —       —       —       —       —       —  

Total Adjustments

   $ (276,330 )   $ 310,700     $ 786,364     $ (133,763 )   $ 119,670     $ 256,644  

 

(3) Assumes $100 was invested in the Corporation for the period starting July 1, 2022, through the end of the listed fiscal year.

 

    
Non-PEO NEO Average Total Compensation Amount $ 1,156,197 1,208,521 1,113,200
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,022,434 1,328,191 1,369,844
Compensation Actually Paid vs. Total Shareholder Return

Relationship Between Compensation Actually Paid and TSR

 

The chart below shows the relationship between the compensation actually paid to the Corporation’s CEO and the average compensation actually paid to the Corporation’s other NEOs, and Corporation’s cumulative TSR (total shareholder return, based on an initial investment of $100 on July 1, 2022) over the three most recently completed fiscal years.

 

td3.jpg

 

    
Compensation Actually Paid vs. Net Income

Relationship Between Compensation Actually Paid and Net Income

 

The chart below shows the relationship between the compensation actually paid to the Corporation’s CEO and the average compensation actually paid to the Corporation’s other NEOs, and the Corporation’s net income over the three most recently completed fiscal years.

 

td4.jpg

 

    
Total Shareholder Return Amount $ 100.67 133.26 126.09
Net Income (Loss) (1,894,000) 10,988,000 10,380,000
PEO      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (276,330) 310,700 786,364
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,033,830 1,052,203 1,092,881
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 672,714 969,871 1,358,260
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 67,221 316,947 326,645
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 17,565 76,085 194,340
Non-PEO NEO      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (133,763) 119,670 256,644
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 507,613 516,632 536,605
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 330,304 476,207 666,907
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 33,008 124,589 117,059
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 10,539 $ 35,506 $ 9,283