Stock-Based Compensation |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation |
As part of the merger on February 10, 2023, shares were authorized for a one-time employee stock plan. The compensation committee approved shares of restricted stock awards to employees on June 15, 2023. The shares fully vest on October 4, 2023. The company does not have an annual stock-based compensation plan.
In September 2024, the Company’s Board approved, subject to stockholder approval, an amendment to the 2023 Plan to increase the number of shares authorized for issuance thereunder by shares of Class A common stock, bringing the total reserved under the 2023 Plan of shares of Class A common stock. On November 7, 2024, the Company’s stockholders approved the amendment to the 2023 Plan. Restricted stock awards granted under the 2023 Plan vest in full on the third anniversary of the grant date.
In connection with awards granted, the Company recognized $ million and $ million in stock-based compensation during the years ended June 30, 2026, and 2025, respectively.
The total fair value of restricted stock that vested during the year ended June 30, 2026, was $ million.
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