Share-Based Compensation (Tables)

The following table summarizes restricted stock activity for the year ended June 30, 2019:



Outstanding and Nonvested Restricted Stock Awards:	Shares Awarded		Weighted Average Grant Date Fair Value ($)
Outstanding at June 30, 2018	14,958		33.48
Granted	30,352		20.8
Exercised/Released	(13,254	)	33.7
Cancelled/Forfeited	—		—
Outstanding and nonvested at June 30, 2019	32,056		21.1

Following are the assumptions used in the Black-Scholes valuation model for NQOs granted on the date of the grant during the fiscal years ended June 30, 2019, 2018 and 2017:



	Year Ended June 30,
	2019			2018			2017
Weighted average fair value of NQOs	$	7.78		$	10.41		$	—
Risk-free interest rate	3.0		%	2.0		%	—		%
Dividend yield	—		%	—		%	—		%
Average expected term	4.6 years			4.6 years			0
Expected stock price volatility	29.6		%	35.4		%	—		%

The following table summarizes NQO activity for the year ended June 30, 2019:



Outstanding NQOs:	Number of NQOs		Weighted Average Exercise Price ($)	Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value ($ in thousands)
Outstanding at June 30, 2018	161,324		26.82	5.1	741
Granted	154,263		25.04	—	—
Exercised	(28,798	)	11.32	—	466
Forfeited	(87,861	)	27.53	—	—
Expired	(879	)	31.70	—	—
Outstanding at June 30, 2019	198,049		27.35	5.25	40
Exercisable at June 30, 2019	50,229		27.72	2.93	40

Following are the assumptions used in the Black-Scholes valuation model for PNQs granted during the fiscal year ended, June 30, 2017, (PNQ shares were not granted during the fiscal years ended June 30, 2019 and 2018):



	Year Ended June 30,
	2017
Weighted average fair value of PNQs	$	11.42
Risk-free interest rate	1.5		%
Dividend yield	—		%
Average expected term	4.9 years
Expected stock price volatility	37.7		%

The following table summarizes PNQ activity for the year ended June 30, 2019:



Outstanding PNQs:	Number of PNQs		Weighted Average Exercise Price ($)	Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value ($ in thousands)
Outstanding at June 30, 2018	300,708		27.08	4.0	1,207
Granted	—		—	—	—
Exercised	(5,806	)	22.70	—	—
Forfeited	(50,451	)	31.45	—	—
Expired	(14,490	)	27.50	—	—
Outstanding at June 30, 2019	229,961		26.21	1.23	—
Exercisable at June 30, 2019	203,021		25.48	0.86	—