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Stock-Based Compensation (Tables)
3 Months Ended
Sep. 30, 2019
Stock-Based Compensation [Abstract]  
Summary of Phantom Stock Option Activity and Related Information
A summary of the Company’s phantom stock option activity and related information for the Plan for the three months ended September 30, 2019 and 2018 is as follows:

  
2019
  
2018
 
Number of options outstanding at beginning of year
  
1,711,600
   
1,634,160
 
Options granted
  
614,700
   
592,700
 
Options forfeited
  
(7,000
)
  
-
 
Options paid in cash
  
-
   
(484,760
)
Number of options outstanding at period end
  
2,319,300
   
1,742,100
 

(In thousands)
 
2019
  
2018
 
Cash paid out on options vested
 
$
-
  
$
1,704
 
Compensation expense recognized
  
645
   
516