General form of registration statement for all companies including face-amount certificate companies

Share-Based Compensation (Tables)

v3.21.2
Share-Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule Of Fair Value Of The Shares Was Estimated Using Valuation Assumptions and Methodology The fair value of the Shares was estimated using the Black-Scholes option-pricing model, with the following assumptions:
    
Years Ended

June 30,
  
    
2020
    
2019
  
Dividend yield
      0.0 %      0.0 % 
Risk-free interest rate
1
      0.2 %      2.7 % 
Expected volatility
2
      55.7 %      25.1 % 
Expected term (in years)
3
      3       2  
Fair value
    $ 0.37     $ 0.16  
1
The risk-free rate is based on the US Treasury yields in effect at the time of grant corresponding with the expected term.
2
Expected volatility is based on historical volatilities from a group of comparable entities for a time period similar to that of the expected term and the expected term.
3
Expected term is based on probability and expected timing of market events.
Summary of Restricted Stock Activity
A summary of restricted stock activity within the Company’s equity plans and changes for the years ended June 30, 2021, and June 30, 2020, is as follows:
 
    
Shares

(in millions)
     
Weighted
Average Grant-
Date Fair Value
     
Total Fair Value
(in millions)
  
Restricted Stock Awards
                           
Nonvested
 at July 1, 2019
      0.4      $ 0.39      $ 0.2  
Granted
      0.2        0.37        0.1  
Vested
      (0.1 )       0.27        —    
Repurchased
      (0.1 )       0.57        (0.1 ) 
    
 
 
     
 
 
     
 
 
  
Nonvested
 at June 30, 2020
      0.4      $ 0.41      $ 0.1  
Granted
      —          —          —    
Vested
      (0.2 )       0.35        (0.1 ) 
Repurchased
      —          —          —    
    
 
 
     
 
 
     
 
 
  
Nonvested
 at June 30, 2021
      0.2      $ 0.27      $ —