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Shareholders' Equity
6 Months Ended
Dec. 31, 2020
Federal Home Loan Banks [Abstract]  
Shareholders' Equity

Note 4. – Shareholders’ Equity

 

Stock-Based Compensation For the three months ended December 31, 2020 and 2019, the Company recognized  no stock-based compensation for options issued to employees and directors of the Company. For the six months ended December 31, 2020 and 2019, the Company recognized  $0 and $28, respectively, of stock-based compensation for options issued to employees and directors of the Company. The fair value of the share options granted was estimated using the Black-Scholes option-pricing model.  There were no share options granted during the three and six months ended December 31, 2020. There were 50,000 share options granted under the 2011 Director Stock Option Plan during the six months ended December 31, 2019.

 

2019-2020 Common Share Repurchase Program – On October 8, 2019, the Company announced a share repurchase program (“2019-2020 Program”) approved by its Board of Directors which authorizes the Company to purchase up to $750 of its common shares in the open market.  As of December 31, 2019, a total of 3,814 shares have been repurchased at a cost of approximately $4. The chart below shows by month the total shares repurchased and average price per share paid for the 2019-2020 Program through December 31, 2019.

 

 

 

Total Shares

 

 

Average Price

 

 

 

Purchased

 

 

Per Share Paid

 

November 2019

 

 

935

 

 

$

1.17

 

December 2019

 

 

2,879

 

 

 

1.18

 

 

 

 

3,814

 

 

$

1.17

 

 

On March 24, 2020, the Company announced that it had suspended the 2019-2020 Program in light of the COVID-19 pandemic and on June 1, 2020, the Company terminated the 2019-2020 program.