Equity Incentive Plan (Tables)

12 Months Ended

Jun. 30, 2020

The table below presents stock option activity and related information:



	Options	Weighted- average exercise price		Remaining contractual life (years)	Aggregate Intrinsic Value
Options outstanding at June 30, 2017	1,470,043	15.22		5.8	$	13,533
Granted	360,400	26.01		—	—
Exercised	44,200	14.72		—	—
Forfeited	24,700	14.43		—	—
Expired	43,273	23.82		—	—
Options outstanding at June 30, 2018	1,718,270	$	17.29	5.9	$	18,664
Exercisable at June 30, 2018	1,223,470	$	14.51
Granted	40,500	27.51		—	—
Exercised	80,311	14.62		—	—
Forfeited	20,300	23.30		—	—
Expired	945	23.82		—	—
Options outstanding at June 30, 2019	1,657,214	$	17.59	5.0	$	12,909
Exercisable at June 30, 2019	1,279,614	$	15.39
Granted	66,000	25.46		—	—
Exercised	106,914	14.41		—	—
Forfeited	800	17.35		—	—
Options outstanding at June 30, 2020	1,615,500	$	18.12	4.4	$	1,711
Exercisable at June 30, 2020	1,298,000	$	16.27	3.5	$	1,701
Non-vested at June 30, 2020	317,500	$	25.67	7.9	$	105

Assumptions used for grants were as follows:



Assumptions in Estimating Option Values
	2020			2019
Weighted-average volatility	25.60		%	17.84		%
Expected dividend yield ⁽¹⁾	1.05		%	0.87		%
Risk-free interest rate	1.43		%	2.52		%
Expected life (years)	6.5			6.5
Weighted-average fair value of options granted	$	5.88		$	6.62

(1) The Company began paying a cash dividend during the second quarter of fiscal 2019.

The table below presents restricted stock award activity and related information:



	Restricted stock awards	Weighted- average grant date fair value		Aggregate Intrinsic Value
Non-vested at June 30, 2017	185,630	$	17.46	$	3,419
Granted	55,200	25.89		—
Vested	100,820	15.14		—
Forfeited	6,600	14.37		—
Non-vested at June 30, 2018	133,410	$	22.85	$	3,755
Granted	34,000	27.51		—
Vested	39,310	21.64		—
Forfeited	4,300	19.08		—
Non-vested at June 30, 2019	123,800	$	24.65	$	2,258
Granted	67,556	26.39		—
Vested	38,925	23.02		—
Forfeited	8,385	24.88		—
Non-vested at June 30, 2020	144,046	$	25.89	$	2,305