STOCK-BASED COMPENSATION

6 Months Ended

Dec. 31, 2013

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

7.             STOCK-BASED COMPENSATION

The Company recognized stock-based compensation expense as follows:

	For The Three Months Ended					For The Six Months Ended
	December 31,			December 31,		December 31,			December 31,
	2013			2012		2013			2012
	(Amounts in thousands)					(Amounts in thousands)
Stock options	$	140		$	129	$	268		$	256
Stock appreciation rights	358			427		664			819
Restricted stock	781			649		2,048			1,779
Performance stock	(1,132		)	600		(1,221		)	1,046
Total stock-based compensation expense	$	147		$	1,805	$	1,759		$	3,900

Stock-based compensation expense is included within general and administrative in the consolidated statements of operations and comprehensive income.

There were no stock options granted during the three months ended December 31, 2013 and 2012, and 24,775 and 17,925 stock options granted during the six months ended December 31, 2013 and 2012, respectively.  As of December 31, 2013, there was $0.8 million of unrecognized compensation expense related to non-vested stock options, which is expected to be recognized over a weighted-average period of 2.1 years.

There were no stock-settled stock appreciation rights (“SSARs”) granted during the three months ended December 31, 2013 and 2012, and 84,125 and 54,400 SSARs granted during the six months ended December 31, 2013 and 2012, respectively.  As of December 31, 2013, there was $2.2 million of unrecognized compensation expense related to non-vested SSARs, which is expected to be recognized over a weighted-average period of 2.2 years.

There were no shares of restricted stock granted during the three months ended December 31, 2013 and 2012, and 66,150 and 40,850 shares of restricted stock granted during the six months ended December 31, 2013 and 2012, respectively.  As of December 31, 2013, there was $6.8 million of unrecognized compensation expense related to non-vested restricted stock, which is expected to be recognized over a weighted-average vesting period of 3.5 years.

There were no shares of performance stock granted during the three months ended December 31, 2013 and 2012, and 71,700 and 45,600 shares of performance stock granted during the six months ended December 31, 2013 and 2012, respectively.  As of December 31, 2013, there was $1.9 million of unrecognized compensation expense related to non-vested performance stock, which is expected to be recognized over a weighted-average vesting period of 2.1 years.