v3.26.3
Award Timing Disclosure
12 Months Ended
Jun. 30, 2026
Feb. 12, 2026
USD ($)
shares
$ / shares
Nov. 14, 2025
USD ($)
shares
$ / shares
Award Timing Disclosures [Line Items]      
Award Timing MNPI Disclosure

Equity Award Grant Practices

We have had no program, plan or practice pertaining to the timing of stock option grants to named executive officers coinciding with the release of material non-public information, or MNPI. The Compensation Committee has historically approved grants of options annually each year as part of our annual compensation cycle. The timing of any equity grants to newly-hired employees, or in connection with promotions or other non-routine grants, is generally tied to the event giving rise to the award (such as an executive officer’s commencement of employment or promotion effective date). Any grants to executive officers are approved at meetings of the Compensation Committee or our board of directors.

For all stock option awards granted in fiscal year 2026, the exercise price is no less than the closing price of our common stock on the date of the grant. In the event an issuer grants stock options or option-like instruments within the period commencing four business days prior to and ending one business day following the filing by the Company of a Form 10-K, Form 10-Q or Form 8-K containing material non-public information as required under Item 402(x) of Regulation S-K, Item 402(x) of Regulation S-K requires tabular disclosure of certain information related to such awards. The table below is being provided because certain of the stock options granted to our named executive officers during fiscal year 2026 were granted within the period commencing four

business days prior to and ending one business day following the filing by the Company of a Form 10-K, Form 10-Q or Form 8-K containing material non-public information.

Name

 

Grant Date

 

 

Number of Securities Underlying the Award

 

 

Exercise Price of the Award

 

 

Grant Date Fair Value of the Award

 

 

Percentage Change in the Closing Market Price of the Securities Underlying the Award Between the Trading Day Ending Immediately Prior to the Disclosure of MNPI and the Trading Day Beginning Immediately Following the Disclosure of MNPI

 

Justin J. File

 

11/14/2025

 

 

 

180,000

 

 

$

2.02

 

 

$

246,492

 

 

 

0.0

%

 

 

2/12/2026

 (1)

 

 

455,000

 

 

$

2.02

 

 

$

259,714

 

 

 

(1.8

)%

 

(1)
The option grant was approved by the Board on November 20, 2025, subject to shareholder approval of the 2026 Omnibus Plan under which the options were granted. LITS shareholders approved the 2026 Omnibus Plan on February 12, 2026.
   
Award Timing Method The timing of any equity grants to newly-hired employees, or in connection with promotions or other non-routine grants, is generally tied to the event giving rise to the award (such as an executive officer’s commencement of employment or promotion effective date). Any grants to executive officers are approved at meetings of the Compensation Committee or our board of directors.In the event an issuer grants stock options or option-like instruments within the period commencing four business days prior to and ending one business day following the filing by the Company of a Form 10-K, Form 10-Q or Form 8-K containing material non-public information as required under Item 402(x) of Regulation S-K, Item 402(x) of Regulation S-K requires tabular disclosure of certain information related to such awards.    
Award Timing Predetermined true    
Award Timing MNPI Considered true    
Award Timing, How MNPI Considered The Compensation Committee has historically approved grants of options annually each year as part of our annual compensation cycle. The timing of any equity grants to newly-hired employees, or in connection with promotions or other non-routine grants, is generally tied to the event giving rise to the award (such as an executive officer’s commencement of employment or promotion effective date). Any grants to executive officers are approved at meetings of the Compensation Committee or our board of directors.    
Awards Close in Time to MNPI Disclosures, Table The table below is being provided because certain of the stock options granted to our named executive officers during fiscal year 2026 were granted within the period commencing four

business days prior to and ending one business day following the filing by the Company of a Form 10-K, Form 10-Q or Form 8-K containing material non-public information.

Name

 

Grant Date

 

 

Number of Securities Underlying the Award

 

 

Exercise Price of the Award

 

 

Grant Date Fair Value of the Award

 

 

Percentage Change in the Closing Market Price of the Securities Underlying the Award Between the Trading Day Ending Immediately Prior to the Disclosure of MNPI and the Trading Day Beginning Immediately Following the Disclosure of MNPI

 

Justin J. File

 

11/14/2025

 

 

 

180,000

 

 

$

2.02

 

 

$

246,492

 

 

 

0.0

%

 

 

2/12/2026

 (1)

 

 

455,000

 

 

$

2.02

 

 

$

259,714

 

 

 

(1.8

)%

 

(1)
The option grant was approved by the Board on November 20, 2025, subject to shareholder approval of the 2026 Omnibus Plan under which the options were granted. LITS shareholders approved the 2026 Omnibus Plan on February 12, 2026.
   
Justin J. File [Member]      
Awards Close in Time to MNPI Disclosures      
Name     Justin J. File
Underlying Securities | shares   455,000 180,000
Exercise Price | $ / shares   $ 2.02 $ 2.02
Fair Value as of Grant Date | $   $ 259,714 $ 246,492
Underlying Security Market Price Change   (0.018) 0