Stock Based Compensation (Tables)

9 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Fair Value Assumptions

The table below outlines the weighted average assumptions that the Company used to calculate the fair value of each option award for the nine months ended March 31, 2021 and 2020.

	March 31, 2021		March 31, 2020
Dividend yield		5.54%		4.88%
Company’s expected volatility		23.41%		27.81%
Risk-free interest rate		0.36%		1.67%
Expected term		5.4 yrs		5.3 yrs
Weighted average fair value per share
of options granted during the period		$1.59		$3.03

Schedule of Stock Option Activity

The following table summarizes stock option activity during the nine months ended March 31, 2021:

	Employee Stock Options Plan
	Number of			Weighted		Weighted Average
	Shares			Average		Remaining		Aggregate
	Subject			Exercise		Contractual		Intrinsic
	to Option			Price		Term		Value
Balance at July 1, 2020		276,712		$	24.30		6.10
Granted		62,025		$	18.05		9.56
Exercised		—			—		—
Forfeited or expired		(26,550	)	$	21.43		—
Outstanding at March 31, 2021		312,187		$	23.30		6.36	$	0
Vested or expected to vest at March 31, 2021		294,318		$	23.56		6.19	$	0
Exercisable at March 31, 2021		202,937		$	25.55		4.84	$	0

Schedule of Changes in Non-Vested Stock Options

The following table summarizes changes in non-vested stock options during the nine months ended March 31, 2021:

	Weighted Number			Average
	of Shares			Grant Date
	Subject			Fair Value
	to Option			(per Option)
Non-vested at July 1, 2020		97,192		$	4.034
Granted		62,025		$	1.590
Vested		(44,667	)	$	5.140
Forfeited or expired		(5,300	)	$	3.531
Non-vested at March 31, 2021		109,250		$	2.219