Equity Incentive Plan
|3 Months Ended|
Sep. 30, 2019
|Share-based Payment Arrangement [Abstract]|
|Equity Incentive Plan||
Note (8) – Equity Incentive Plan: In November 2015, the Company’s stockholders approved the Company’s 2015 Equity Incentive Plan (the “Plan”). The Plan authorizes the issuance of up to 1,500,000 shares of the Company’s common stock pursuant to awards granted under the Plan. The fair value of awards granted under the Plan is expensed on straight-line basis over the vesting period of the awards. Share-based compensation expense is included in selling, general and administrative expenses in the Company’s condensed consolidated statements of operations.
There were no awards granted under the Plan during the three months ended September 30, 2019 or 2018.
As of September 30, 2019, the Company had $13.7 million and $927,000 of total unrecognized compensation expense related to restricted stock awards and restricted stock units, respectively, granted under the Plan, which is expected to be recognized over the weighted-average period of 16.9 years and 17.3 years, respectively.
The following is a summary of non-vested restricted stock activity as of and for the three months ended September 30, 2019:
Employee Stock Purchase Plan
The Company’s employee stock purchase plan commenced on July 1, 2018 and provides for six-month offering periods, the first of which expired on December 31, 2018. There were no shares issued under the Company’s employee stock purchase plan during the three months ended September 30, 2019 or 2018.
The entire disclosure for share-based payment arrangement.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef