Note 5 - Stock Plans

12 Months Ended

Jun. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

(5) STOCK PLANS

All share-based payments to employees, including grants of employee stock options, are recognized in the financial statements based upon a grant-date fair value of an award.

In January 2006, stockholders approved the 2006 Omnibus Incentive Plan ("2006 Plan") that provides various vehicles to compensate the Company's key employees. The 2006 Plan utilizes such vehicles as stock options, restricted stock grants, and stock appreciation rights ("SARs"). The 2006 Plan authorized the Company to grant 1,687,500 shares. In November 2008, an additional 1,000,000 shares were authorized under an amendment to the 2006 Plan. In December 2013, a second amendment to the plan was approved by stockholders authorizing an additional 750,000 shares to be available for grant under the 2006 plan. In fiscal 2014, the Company granted restricted stock grants covering 148,500 shares. In fiscal 2013, the Company granted restricted stock grants covering 189,413 shares. In fiscal 2012, the Company granted stock options covering 87,500 shares and restricted stock grants covering 187,417 shares. As of June 30, 2014, the Company is authorized to grant an additional 685,526 shares.

The total compensation cost that has been recorded for such stock-based awards was an expense of $2.1 million in fiscal 2014, $3.9 million in fiscal 2013, and $2.4 million in fiscal 2012. The total income tax benefit recognized in the statement of operations for share-based compensation arrangements was $1.1 million in fiscal 2014, $1.9 million in fiscal 2013, and $1.5 million in fiscal 2012.

The Company has granted a number of stock options under various plans. Options granted to employees have been granted with an exercise price equal to the market price on the grant date and expire on the tenth anniversary of the grant date. The majority of options granted to employees vest 25 percent per year, commencing with the first anniversary of the grant date. Under the 2006 Plan options granted have been granted with an exercise price equal to the market price on the grant date, vest over three years for non-employee directors and four years with respect to all other grants, commencing with the first anniversary of the grant date, and expire on the tenth anniversary of the grant date.

A summary of the activity of the Company's stock option plans as of June 30, 2014, 2013, and 2012 and changes during the period then ended is presented below:

Options	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at June 30, 2011		1,432,083		$	10.60		6.06	$	4,866,334
Granted		---			---
Forfeited or expired		(12,560	)	$	11.21
Exercised		(57,233	)	$	9.58
Outstanding at June 30, 2012		1,362,290		$	10.63		5.1	$	7,829,713
Granted		---			---
Forfeited or expired		(17,925	)	$	13.77
Exercised		(195,575	)	$	9.57
Outstanding at June 30, 2013		1,148,790		$	10.76		4.1	$	8,606,841
Granted		---			---
Forfeited or expired		(8,500	)	$	13.88
Exercised		(235,192	)	$	12.60
Outstanding at June 30, 2014		905,098		$	10.25		3.5	$	10,018,958
Exercisable at June 30, 2014		892,598		$	10.19		3.4	$	9,932,333

The total intrinsic value of options exercised during fiscal 2014, 2013, and 2012 was $1.9 million, $2.0 million, and $0.3 million, respectively.

As of June 30, 2014, we had $0.1 million of total unrecognized compensation expense related to stock options that is expected to be amortized over a remaining 0.6 years and a weighted average period of 0.6 years.

Restricted Shares

	Number of Shares			Weighted-Average Grant Date Fair Value
Unvested at June 30, 2011		355,630		$	12.27
Granted		252,593		$	12.60
Forfeited		(2,753	)	$	11.44
Vested		(152,045	)	$	12.09
Unvested at June 30, 2012		453,425		$	12.36
Granted		189,413		$	18.58
Forfeited		(24,437	)	$	11.33
Vested		(262,438	)	$	12.64
Unvested at June 30, 2013		355,963		$	15.75
Granted		148,500		$	22.13
Forfeited		(16,975	)	$	13.49
Vested		(130,783	)	$	14.75
Unvested at June 30, 2014		356,705		$	18.88

Restricted shares granted to employees have been granted subject to achievement of certain time-based targets and vest evenly over a four or five year period, commencing with the first anniversary of the grant date.

As of June 30, 2014, we had $5.7 million of total unrecognized compensation expense related to restricted stock that is expected to be recognized over the remaining weighted average period of approximately 3.3 years.