Stock-Based Compensation |
3 Months Ended | ||
|---|---|---|---|
Sep. 30, 2026 | |||
| Stock-Based Compensation [Abstract] | |||
| Stock-Based Compensation |
Stock Incentive Plans
On November 12, 2014, the stockholders of the Company approved the adoption of the Company’s 2014 Stock Incentive Plan (the “2014 Stock Incentive Plan”). The 2014 Stock Incentive Plan terminated on August 13, 2024; however, the 960 unvested plan share awards and 33,000 outstanding options as of September 30, 2026, will remain in effect for the remainder of their five-year vesting and original ten-year terms, respectively.
On November 13, 2019, the stockholders of the Company approved the adoption of the Company’s 2019 Stock Incentive Plan (the “2019 Stock Incentive Plan”). On July 24, 2024, the Company granted 1,600 stock options to a key employee vesting ratably over five years. The 2019 Stock Incentive Plan costs are recognized over the five-year vesting period. As of September 30, 2026, there are no plan share awards and 800 stock options available for future grant under the 2019 Stock Incentive Plan. There were no plan share awards and 138,904 outstanding options as of September 30, 2026, under the 2019 Stock Incentive Plan.
On November 19, 2025, the stockholders of the Company approved the adoption of the Company’s 2025 Stock Incentive Plan (the “2025 Stock Incentive Plan,” together with the 2014 Stock Incentive Plan and the 2019 Stock Incentive Plan, the “Stock Incentive Plans”) which provides for a total of 125,000 shares reserved for future issuance as stock awards or stock options. No more than 31,250 shares, or 25%, may be granted as stock awards. The balance of the plan is reserved for stock option awards. On December 18, 2025, the Company granted a total of 31,250 plan share awards and a total of 92,750 stock options to directors, officers and key employees vesting ratably over five years. The 2025 Stock Incentive Plan costs are recognized over the five-year vesting period. As of September 30, 2026, there are no plan share awards and 1,000 stock options available for future grant under the 2025 Stock Incentive Plan. There were 31,250 unvested plan share awards and 92,750 outstanding options as of September 30, 2026, under the 2025 Stock Incentive Plan.
For the three months ended September 30, 2026 and 2025, the Company recognized compensation expense of $58,551 and $55,648, respectively, related to its Stock Incentive Plans.
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