XML 56 R39.htm IDEA: XBRL DOCUMENT v3.24.2.u1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted Average Fair Values Per Stock-Based Compensation Award Granted
Using the fair value of each grant on the date of grant, the weighted average fair values per stock-based compensation award granted during fiscal years 2024, 2023, and 2022 were as follows (1):
Fiscal Years
202420232022
SARs$— $30.40 $51.20 
SOs— 28.60 36.40 
RSUs21.20 — 53.80 
_______________________________________________________________________________
(1)The fair value of cash-settled SARs granted are estimated on the date of grant using a Black-Scholes valuation model, with the fair value recalculated on a quarterly basis. The fair value of market-based SOs granted are estimated on the date of grant using a Black-Scholes valuation model. The fair value of market-based RSUs granted are estimated on the date of grant using the closing stock price on the date of grant.
Schedule of Significant Assumptions used in Determining the Estimated Fair Value of the Market-Based Awards Granted The significant assumptions used in determining the estimated fair value of the market-based awards granted during fiscal years 2024, 2023, and 2022 were as follows:
Fiscal Years
202420232022
Risk-free interest rate
3.88 - 4.32%
3.08 - 4.30%
1.25 - 3.04%
Expected volatility
89.2 - 104.8%
69.5 - 82.6%
58.3 - 64.5%
Expected dividend yield— %— %— %
Expected term of stock-based awards
5.8 - 6.7 years
6.0 - 7.9 years
6.1 - 7.7 years
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense was as follows:
Fiscal Years
202420232022
(Dollars in thousands)
SARs (1)$(63)$238 $49 
SOs (2)1,070 1,114 (290)
RSUs551 964 1,575 
Total stock-based compensation expense (recorded in general and administrative)1,558 2,316 1,334 
Less: Income tax benefit (3)— — — 
Total stock-based compensation expense, net of tax$1,558 $2,316 $1,334 
_______________________________________________________________________________
(1)The credit balance in fiscal year 2024 is due to adjustments made for quarterly revaluations resulting from a decrease in stock price during the year.
(2)A benefit was recognized in fiscal year 2022 due to forfeiture of SOs.
(3)Federal statutory income tax rate utilized of 0% due to a valuation allowance in fiscal years 2024, 2023, and 2022.
Schedule of Activity for Stock Appreciation Rights
Activity for all the Company's outstanding SARs is as follows:
 Shares/Units
(in thousands)
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual Life
Aggregate
Intrinsic Value
(in thousands)
 SARs
Outstanding balance at June 30, 2023105 $129.00 
Granted— —   
Forfeited/Expired— —   
Exercised— —   
Outstanding balance at June 30, 2024105 $129.00 5.37$(11,144)
Exercisable at June 30, 202470 $172.00 4.18$(10,456)
Unvested awards, net of estimated forfeitures32 $41.32 7.79$(587)
Schedule of Activity for Stock Option Activity
Activity for all the Company's outstanding SOs is as follows:
 Shares/Units
(in thousands)
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual Life
Aggregate
Intrinsic Value
(in thousands)
 SOs
Outstanding balance at June 30, 2023150 $32.27 
Forfeited/Expired(1)30.40   
Outstanding balance at June 30, 2024149 $32.29 7.95$(1,385)
Exercisable at June 30, 202476 $30.68 8.03$(584)
Unvested awards, net of estimated forfeitures65 $34.33 7.86$(737)
Schedule of Activity for RSUs
Activity for all the Company's RSUs is as follows:
 Shares/Units
(in thousands)
Weighted
Average
Grant Date
Fair Value
Aggregate Intrinsic
Value
(in thousands)
 RSUs
Outstanding balance at June 30, 202339 $126.83 
Granted13 21.20  
Forfeited(1)22.65  
Vested(3)110.97  
Outstanding balance at June 30, 202448 $101.48 $1,104 
Vested at June 30, 202427 $144.65 $621 
Unvested awards, net of estimated forfeitures16 $52.25 $368