Stock Compensation (Tables)

9 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value

For more information on stock compensation awards, refer to our Annual Report on Form 10-K for the fiscal year ended June 30, 2021.

Type of Award	Quarter Awarded	Targeted Shares or Units	Grant Date Fair Value (4)
Relative Total Shareholder Return Performance Units (1)	1st Quarter	63,110	$15.54
Restricted Stock Units (2)	1st Quarter	214,330	$12.57	-	$13.02
Restricted Stock Units (2)	2nd Quarter	42,142	$10.42	-	$11.05
Restricted Stock Units (2)	3rd Quarter	59,271	$9.02	-	$9.35
Unrestricted Shares (3)	1st Quarter	8,966	$13.11	-	$13.25
Unrestricted Shares (3)	2nd Quarter	9,246	$11.58
Unrestricted Shares (3)	3rd Quarter	12,246	$10.36

(1) Performance units were awarded to key officers under the Company’s Relative Total Shareholder Return program. Vesting occurs at June 30, 2024. Participants will earn from 0% to 200% of the target award depending upon how the compound annual growth rate of Kimball International common stock ranks within the peer group at the end of the performance period. The maximum number of units that can be issued under these awards, excluding forfeited awards, is 121,298.

(2) Restricted stock units were awarded to officers and key employees. Vesting occurs at June 30, 2022, June 30, 2023, and June 30, 2024. Upon vesting, the outstanding number of restricted stock units and the value of dividends accumulated over the vesting period are converted to shares of common stock.

(3) Unrestricted shares were awarded to non-employee members of the Board of Directors and key employees as consideration for service to Kimball International and do not have vesting periods, holding periods, restrictions on sale, or other restrictions.

(4) The grant date fair value of the Relative Total Shareholder Return awards was calculated using a Monte Carlo simulation. This valuation technique includes estimating the movement of stock prices and the effects of volatility, interest rates, and dividends. The grant date fair value of the restricted stock units that receive dividends and unrestricted shares was based on the stock price at the date of the award.