The Company historically provided stock-based awards through the 2013 Omnibus Incentive Plan, which provided for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, directors emeritus, officers, employees and advisory directors. On November 14, 2022, at the Company's annual meeting, stockholders approved the 2022 Omnibus Incentive Plan which provides for the same types of awards as described under the 2013 Omnibus Incentive Plan. Going forward, any future grants will be made under this plan.

The cost of equity-based awards under the 2022 Omnibus Incentive Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the plan is 1,000,000. Shares of common stock issued under the plan will be issued out of authorized but unissued shares, some or all of which may be repurchased shares.

The table below presents share-based compensation expense and the estimated related tax benefit for stock options and restricted stock for the dates indicated below:


	Three Months Ended December 31,				Six Months Ended December 31,
	2022		2021		2022		2021
Share-based compensation expense	$	464	$	485	$	1,031	$	900
Tax benefit	110		114		244		212


	Options	Weighted- Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Options outstanding at June 30, 2021	1,319,456	$	19.07	3.9	$	11,657


Exercised	(347,800)	14.50		—	—
Forfeited	(18,600)	23.06		—	—

Options outstanding at December 31, 2021	953,056	$	20.65	4.1	$	9,840
Exercisable at December 31, 2021	727,506	$	19.12	3.2	$	8,631
Non-vested at December 31, 2021	225,550	$	25.62	6.9	$	1,210

Options outstanding at June 30, 2022	928,870	$	21.49	4.1	$	4,036
Granted	5,000	24.07		—	—

Exercised	(74,047)	14.37		—	—
Forfeited	(10,200)	26.98		—	—

Options outstanding at December 31, 2022	849,623	$	22.06	3.9	$	2,958
Exercisable at December 31, 2022	682,673	$	20.88	3.1	$	2,918
Non-vested at December 31, 2022	166,950	$	26.88	7.1	$	40

Assumptions used in estimating the fair value of options granted during the six months ended December 31, 2022 have been detailed below. There were no options granted during the six months ended December 31, 2021.


	December 31, 2022
Weighted-average volatility	27.78		%
Expected dividend yield	1.62		%
Risk-free interest rate	3.11		%
Expected life (years)	6.5
Weighted-average fair value of options granted	$	6.77

At December 31, 2022, the Company had $613 of unrecognized compensation expense related to 166,950 stock options originally scheduled to vest over a five-year period. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 1.1 years at December 31, 2022. At December 31, 2021, the Company had $894 of unrecognized compensation expense related to 225,550 stock options originally scheduled to vest over a five-year period. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 1.1 years at December 31, 2021.


	Restricted Stock Awards	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested at June 30, 2021	151,575	$	25.06	$	4,229

Vested	(8,918)	26.93		—
Forfeited	(9,400)	24.57		—
Non-vested at December 31, 2021	133,257	$	25.06	$	4,128

Non-vested at June 30, 2022	135,910	$	27.40	$	2,345
Granted	7,986	25.32		—
Vested	(13,861)	27.11		—
Forfeited	(6,200)	27.64		—
Non-vested at December 31, 2022	123,835	$	27.28	$	2,033

The table above includes non-vested performance-based restricted stock units totaling 22,843 and 23,662 at December 31, 2022 and 2021, respectively. Each issuance of these stock units is scheduled to vest over 3.0 years assuming the applicable dilutive EPS goals are met.

At December 31, 2022, unrecognized compensation expense was $2,037 related to 123,835 shares of restricted stock originally scheduled to vest over three- and five-year periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.3 years at December 31, 2022. At December 31, 2021, unrecognized compensation expense was $2,043 related to 133,257 shares of restricted stock originally scheduled to vest over three- and five-year periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.3 years at December 31, 2021.