RELATED PARTY TRANSACTIONS |
12 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | 14. RELATED PARTY TRANSACTIONS 255 RC, LLC The Company owns a 50% interest in 255 RC, LLC, a limited liability company formed for the joint ownership of a corporate aircraft. The Company accounts for its investment in 255 RC under the equity method of accounting. The Company is party to an operating lease and management arrangement with 255 RC for use of the aircraft. Pursuant to the arrangement, we share fixed lease expenses with 255 RC on an equal basis and are solely responsible for lease costs directly attributable to our business flights actually taken during an applicable billing period. During fiscal 2026, the Company recorded aircraft-related operating costs, including rent and its allocable share of certain fixed operating costs, of $0.1 million. As of June 30, 2026, the Company had a payable of $2.3 million due to 255 RC. The carrying value of the Company's investment in 255 RC was $4.3 million as of June 30, 2026. Transition Services Agreement In connection with the Marine Products Transaction, we entered into a Transition Services Agreement with RPC, Inc. LOR, Inc., a holder of greater than 10% of our common stock, is the largest shareholder of RPC. Pursuant to the Transition Services Agreement, RPC, Inc. (i) provides certain administrative services to us on a cost reimbursement basis that were previously provided to Marine Products prior to the Marine Products Transaction and (ii) will continue to administer the RPC, Inc. 401(k) Plan to certain of our employees that previously were employed by Marine Products prior to the Marine Products Transaction. The Transition Services Agreement may be terminated upon six months’ notice. Marine Products reimbursed RPC, Inc. an immaterial amount for its estimated allocable share of administrative costs incurred for services rendered on behalf of Marine Products in fiscal 2026. |