The 2015 Incentive Award Plan (“2015 Plan”) provides for the grant of stock options, including incentive stock options, and nonqualified stock options (“NSOs”), restricted stock, dividend equivalents, stock payments, restricted stock units, restricted stock awards (“RSAs”), deferred stock, deferred stock units, performance awards, stock appreciation rights, performance stock units (“PSUs”), and cash awards. As of June 30, 2024, there were 848,175 shares available for issuance under the 2015 Plan.

The following table presents the components of share-based compensation expense within continuing operations by award type for the years ended June 30, 2024, 2023, and 2022.


	2024			2023		2022
Restricted stock awards	$	3,014		$	2,283	$	1,684
Performance stock units		(416	)		1,373		1,826
Share-based compensation expense (benefit)	$	2,598		$	3,656	$	3,510

The amount of compensation cost the Company recognizes over the requisite service period is based on the Company’s best estimate of the achievement of the performance conditions and can fluctuate over time.

The following table presents the income tax benefit (expense) related to share-based compensation expense within continuing operations recognized by award type for the years ended June 30, 2024, 2023, and 2022.


	2024			2023		2022
Restricted stock awards	$	511		$	530	$	383
Performance stock units		(71	)		319		416
Share-based compensation expense (benefit)	$	440		$	849	$	799

All RSAs granted to non-employee directors vest over the remainder of that fiscal year, and all RSAs granted to employees vest over a period of between one to three years. Generally, non-vested RSAs are forfeited if employment is terminated prior to vesting. RSAs are granted at a per share fair value equal to the market value of the Company’s common stock on the grant date. The Company recognizes the cost of non-vested RSAs ratably over the requisite service period.

The fair value of RSAs vested during the years ended June 30, 2024, 2023, and 2022 was $2.9 million, $3.2 million, and $2.4 million, respectively. A summary of RSA activity within continuing operations for these years is as follows:


	Number of Restricted Stock Awards Outstanding			Weighted Average Grant Date Fair Value
Total Non-vested Restricted Stock Awards at June 30, 2021		118,193		$	19.42
Granted		95,753			25.04
Vested		(99,004	)		22.01
Forfeited		(8,534	)		24.65
Total Non-vested Restricted Stock Awards at June 30, 2022		106,408			21.65
Granted		104,657			23.91
Vested		(112,789	)		22.10
Forfeited		(6,369	)		21.83
Total Non-vested Restricted Stock Awards at June 30, 2023		91,907			23.66
Granted		181,706			21.33
Vested		(146,650	)		22.15
Forfeited		(22,591	)		23.43
Total Non-vested Restricted Stock Awards at June 30, 2024		104,372			21.76

As of June 30, 2024, there was $2.1 million of total unrecognized compensation expense related to non-vested RSAs. The Company expects this expense to be recognized over a weighted average period of 2.2 years.

During the years ended June 30, 2024, 2023, and 2022, the Company granted performance shares to certain employees. The awards will be earned based on the Company’s achievement of certain performance criteria over a three-year performance period. The performance period for the awards commences on July 1 of the fiscal year in which they were granted and continues for a three-year period, ending on June 30 of the applicable year. The probability of achieving the performance criteria is assessed quarterly. Following the determination of the Company’s achievement with respect to the performance criteria, the amount of shares awarded will be subject to adjustment based on the application of a total shareholder return (“TSR”) modifier. The grant date fair value is determined based on both the assessment of the probability of the Company’s achieving the performance criteria and an estimate of the expected TSR modifier. The TSR modifier estimate is determined by using a Monte Carlo Simulation model, which considers the likelihood of all possible outcomes of long-term market performance. The amount of compensation cost the Company recognizes over the requisite service period is based on management’s best estimate of the achievement of the performance criteria.

The fair value of PSUs vested during the years ended June 30, 2024, 2023, and 2022 was $0.7 million, $1.7 million, and $2.1 million, respectively. A summary of PSU activity within continuing operations for these years is as follows:


	Number of Performance Stock Units			Weighted Average Grant Date Fair Value
Total Non-vested Performance Stock Units at June 30, 2021		160,285		$	21.03
Granted		53,842			28.73
Vested		(99,860	)		20.16
Forfeited		(9,077	)		26.71
Total Non-vested Performance Stock Units at June 30, 2022		105,190			25.30
Granted		76,567			26.08
Vested		(56,790	)		22.38
Forfeited		(1,996	)		26.15
Total Non-vested Performance Stock Units at June 30, 2023		122,971			27.12
Granted		86,555			21.62
Vested		(39,554	)		28.71
Forfeited		(30,062	)		24.84
Total Non-vested Performance Stock Units at June 30, 2024		139,910			23.62

As of June 30, 2024, there was no unrecognized compensation expense related to non-vested PSUs.

In July 2015, the Company granted 137,786 NSOs to certain employees. As of July 2019, all outstanding options were fully vested and exercisable. All outstanding options were exercised as of June 30, 2023. A summary of NSO activity within continuing operations for these years is as follows:


						Weighted
				Weighted		Average
				Average		Remaining	Aggregate
				Exercise		Contractual	Intrinsic
	Shares			Price		Term (Yrs.)	Value
Outstanding at June 30, 2021		24,440		$	10.70	4.1	$	381
Granted		—
Exercised		(9,294	)		10.70
Forfeited or expired		—
Outstanding at June 30, 2022		15,146			10.70	3.1		157
Granted		—
Exercised		(15,146	)		10.70
Forfeited or expired		—
Outstanding at June 30, 2023		—