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Equity-Based Compensation | 3 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Equity-Based Compensation | EQUITY-BASED COMPENSATION The Company has one equity plan, the Fox Corporation 2019 Shareholder Alignment Plan (See Note 12—Equity-Based Compensation in the 2022 Form 10-K). The following table summarizes the Company’s equity-based compensation:
| For the three months ended September 30, |  |
| 2022 |  | 2021 |  |  |  |
| (in millions)
Equity-based compensation | $ | 7 |  |  | $ | 15 |  |  |  |  |
Intrinsic value of all settled equity-based awards | $ | 76 |  |  | $ | 76 |  |  |  |  |
Tax benefit on settled equity-based awards | $ | 14 |  |  | $ | 17 |  |  |  |  |
The Company’s equity-based awards are settled in Class A Common Stock. As of September 30, 2022, the Company’s total estimated compensation cost, not yet recognized, related to non-vested equity awards held by the Company’s employees was approximately $150 million and is expected to be recognized over a weighted average period between one and two years. As of September 30, 2022 and 2021, the Company had approximately 6 million stock options outstanding. The computation of diluted earnings per share did not include stock options outstanding during each period presented if their inclusion would have been antidilutive. Awards Vested and Granted Restricted Stock Units During the three months ended September 30, 2022 and 2021, a pproximately 1.5 million and 2.0 million restricted stock units (“RSUs”) vested and approximately 2.0 million and 1.6 million RSUs were granted, respectively. These RSUs generally vest in equal annual installments over a three-year period subject to participants’ continued employment with the Company. Performance-Based Stock Options During the three months ended September 30, 2022 and 2021, the Company granted approximately 4 million performance-based stock options in each period, which will vest in full at the end of a three-year performance period if the market condition is met, and have a term of seven years thereafter.

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