As of September 30, 2025, there were 508,706 shares available under the 2017 Plan including shares that were forfeited under the prior plans for future issuance.

One-third of the total number of shares subject to each stock option vest ratably on each of the first three anniversaries of the grant date, contingent on continued employment, and subject to accelerated vesting in certain circumstances. There were no NQOs granted, exercised or cancelled during the three months ended September 30, 2025.

As of September 30, 2025, there were 15,131 NQOs exercisable and outstanding with a weighted average remaining life of 1.0 year. The weighted average exercise price of NQO’s was $16.87. The NQOs have an intrinsic value of zero at September 30, 2025.

The following table summarizes restricted stock activity for the three months ended September 30, 2025:


Outstanding and Nonvested Restricted Stock Awards:	Shares Awarded	Weighted Average Grant Date Fair Value ($)
Outstanding and nonvested at June 30, 2025	803,175	2.54
Granted	468,750	1.85
Vested/Released	(54,216)	2.61
Cancelled/Forfeited	—	—
Outstanding and nonvested at September 30, 2025	1,217,709	2.27

The weighted average grant date fair value of RSUs granted during the quarter ended September 30, 2025 and 2024 were $1.85 and $2.50, respectively. The total grant-date fair value of restricted stock granted during the three months ended September 30, 2025 was $0.9 million. The total fair value of awards vested during the three months ended September 30, 2025 and 2024 were $0.1 million and $0.1 million, respectively.

At September 30, 2025 and June 30, 2025, there was $1.8 million and $1.3 million, respectively, of unrecognized compensation cost related to restricted stock. The unrecognized compensation cost related to restricted stock at September 30, 2025 is expected to be recognized over the weighted average period of 1.3 years. Total compensation expense for restricted stock was $0.3 million and $0.3 million, respectively, in the three months ended September 30, 2025 and 2024.


Outstanding and Nonvested PBRSUs:	PBRSUs Awarded	Weighted Average Grant Date Fair Value ($)
Outstanding and nonvested at June 30, 2025	834,317	2.53
Granted	—	—
Vested/Released	—	—
Cancelled/Forfeited	—	—
Outstanding and nonvested at September 30, 2025	834,317	2.53

The weighted average grant date fair value of PBRSUs granted during the quarter ended September 30 2024 was $2.50. There were no PBRSU’s granted or vested during the three months ended September 30, 2025. There were no PBRSU’s vested during the three months ended September 30, 2024.

At September 30, 2025 and June 30, 2025, there was $1.1 million and $1.3 million, respectively, of unrecognized PBRSU compensation cost. The unrecognized PBRSU compensation cost at September 30, 2025 is expected to be recognized over the weighted average period of 1.8 years. Total compensation expense for PBRSUs was $0.2 million and $0.2 million, respectively, for the three months ended September 30, 2025 and 2024.

CSRSUs vest in equal installments over a three-year period from the grant date, and are cash-settled upon vesting based on the closing share price of Common Stock on the vesting date.

The CSRSUs are accounted for as liability awards, and compensation expense is measured at fair value on the date of grant and recognized on a straight-line basis over the vesting period net of forfeitures. Compensation expense is remeasured at each reporting date with a cumulative adjustment to compensation cost during the period based on changes in the closing share price of Common Stock.


Outstanding and Nonvested CSRSUs:	CSRSUs Awarded	Weighted Average Grant Date Fair Value ($)
Outstanding and nonvested at June 30, 2025	781,263	2.36
Granted	725,000	1.85
Vested/Released	—	—
Cancelled/Forfeited	—	—
Outstanding and nonvested at September 30, 2025	1,506,263	2.12

The weighted average grant date fair value of CSRSUs granted during the quarter ended September 30, 2025 was $1.85. The total grant-date fair value of CSRSUs granted during the three months ended September 30, 2025 was $1.3 million. The total fair value of awards vested was $0.2 million during the three months ended September 30, 2024.

At September 30, 2025 and June 30, 2025, there was $2.0 million and $0.8 million, respectively, of unrecognized compensation cost related to CSRSUs. The unrecognized compensation cost related to CSRSUs at September 30, 2025 is expected to be recognized over the weighted average period of 1.6 years. Total compensation expense for CSRSUs was $0.2 million and $0.2 million, respectively for the three months ended September 30, 2025 and 2024.