At the Company’s 2021 Annual Meeting of Stockholders held on October 28, 2021, the stockholders approved the 2021 Plan which provides for the grant of stock options, restricted stock and restricted stock units (“RSUs”). The 2021 Plan authorized the issuance of up to 7,500,000 shares (the “Share Limit”); provided, however that the Share Limit is reduced, on a one-for-one-basis, for each share of common stock subject to a stock option grant, and on a three-for-one basis for each share of common stock issued pursuant to restricted stock awards or RSUs.

During the years ended June 30, 2025 and 2024, the Company granted 380,007 RSUs (comprised of 278,530 service-based RSUs and 101,477 performance-based RSUs) and 349,257 RSUs (comprised of 255,062 service-based RSUs and 94,195 performance-based RSUs), respectively. The service-based RSUs generally vest in three tranches over a period of 3.0 years and the performance-based RSUs will cliff vest upon the achievement of performance measures over a three-year period. The total number of performance-based RSUs that will vest, if any, will depend on whether and to what extent the performance measures are achieved. Common stock will be issued from authorized shares upon the vesting of the RSUs. At June 30, 2025, there were 3,586,839 shares remaining available for future grants of stock options, restricted stock or RSUs under the 2021 Plan, subject to the limitations noted above.

No grants were made under the 2016 Plan during the years ended June 30, 2025 and 2024. As of October 28, 2021, the 2016 Plan was frozen and the Company no longer makes grants under the 2016 Plan.

Stock options granted under the 2016 Plan vest in equal installments over a five-year service period. Stock options were granted at an exercise price equal to the fair value of the Company's common stock on the grant date based on the closing market price and have an expiration period of 10 years. No stock options were granted during the years ended June 30, 2025, 2024 and 2023.


	Years Ended June 30,
	2025		2024		2023
	(In Thousands)
Stock option expense	$	—	$	58	$	153
Restricted stock expense	101		323		725
Restricted stock unit expense	1,714		2,211		2,058
Total stock-based compensation expense	$	1,815	$	2,592	$	2,936

During the years ended June 30, 2025, 2024 and 2023, the income tax benefit attributed to our stock-based compensation expense was $528,000, $746,000 and $836,000, respectively.


	Stock Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
	(In Thousands)				(In Thousands)
Outstanding at June 30, 2024	2,752	$	15.12	2.5 years	$	—
Granted	—	—		—
Exercised	—	—		—
Forfeited	(7)	9.82
Outstanding at June 30, 2025	2,745	$	15.13	1.5 years	$	—

Exercisable at June 30, 2025	2,745	$	15.13	1.5 years	$	—

Restricted shares awarded under the 2016 Plan generally vest in equal installments over a five-year service period. In addition to the requisite service period, the vesting of certain restricted shares awarded to management are also conditioned upon the achievement of one or more objective performance factors established by the Compensation Committee of the Company’s Board of Directors. In accordance with the terms of the 2016 Plan, such factors may be based on the performance of the Company as a whole or on any one or more business units of the Company or its subsidiaries. Performance factors may be measured relative to a peer group, an index or certain financial targets established in the Company's strategic business plan and budget.

The Company fully achieved the applicable performance targets for fiscal 2024 and therefore all eligible performance-based restricted shares successfully vested during the year ended June 30, 2025.

The performance factors and underlying cost basis of the remaining unvested performance-based restricted shares are generally expected to be determined annually concurrent with the anniversary date of the original grants.

For service based awards management recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period. For performance vesting awards management recognizes compensation expense for the fair

value of restricted shares on a straight-line basis over the requisite service period; however, if the corporate performance goals to which the vesting of such shares are tied are not achieved, recognized compensation expense is adjusted accordingly.


	Vesting Contingent on Service Conditions			Vesting Contingent on Performance Conditions
	Restricted Shares	Weighted Average Grant Date Fair Value		Restricted Shares	Weighted Average Grant Date Fair Value
	(In Thousands)			(In Thousands)
Non-vested at June 30, 2024	11	$	13.11	11	$	13.11
Granted	—	—		—	—
Vested	(6)	13.11		(6)	5.90
Forfeited	—	—		—	—
Non-vested at June 30, 2025	5	$	13.11	5	$	5.90

During the years ended June 30, 2025, 2024 and 2023, the total fair value of vested restricted shares were $63,000, $767,000 and $767,000, respectively. Expected future compensation expense relating to the 10,744 non-vested restricted shares at June 30, 2025 is $94,000 over a weighted average period of 0.9 years.

RSUs awarded under the 2021 Plan generally vest in equal installments over a specified service period. In addition to the requisite service period, the vesting of certain RSUs are also conditioned upon the achievement of one or more objective performance measures established by the Compensation Committee of the Company’s Board of Directors. In accordance with the terms of the 2021 Plan, such measures may be based on the performance of the Company as a whole or on any one or more business units of the Company or its subsidiaries. Performance measures may be measured relative to a peer group, an index or certain financial targets established in the Company’s strategic business plan and budget.

For service-based RSUs, the Company recognizes compensation expense for the fair value of RSUs on a straight-line basis over the requisite service period of each tranche. For performance-based RSUs, the Company recognizes compensation expense for the fair value of RSUs on a straight-line basis over the requisite service period; however, the compensation will be adjusted accordingly based on the achievement of the performance measures.


	Vesting Contingent on Service Conditions			Vesting Contingent on Performance Conditions
	Restricted Stock Units	Weighted Average Grant Date Fair Value		Restricted Stock Units	Weighted Average Grant Date Fair Value
	(In Thousands)			(In Thousands)
Non-vested at June 30, 2024	440	$	10.28	250	$	9.60
Granted	279	6.24		101	6.24
Vested	(207)	10.99		—	—
Forfeited	—	—		(70)	9.60
Non-vested at June 30, 2025	512	$	7.77	281	$	6.24