Share-Based Compensation

9 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

The Company’s Board of Directors adopted the II-VI Incorporated 2018 Omnibus Incentive Plan (the “Plan”), which was approved by the Company’s shareholders. The Plan provides for the grant of performance-based cash incentive awards, non-qualified stock options, stock appreciation rights, restricted share awards, restricted share units, deferred share awards, performance share awards and performance share units to employees, officers and directors of the Company. The maximum number of shares of II-VI Common Stock authorized for issuance under the Plan is limited to 3,550,000 shares of II-VI Common Stock, not including any remaining shares forfeited under the predecessor plans that may be rolled into the Plan. The Company records share-based compensation expense for these awards in accordance with U.S. GAAP, which requires the recognition of grant-date fair value of share-based compensation in net earnings (loss) and over the requisite service period of the individual grantees, which generally equals the vesting period. The Company accounts for cash-based stock appreciation rights, cash-based restricted share unit awards and cash-based performance share unit awards as liability awards, in accordance with applicable accounting standards.

Share-based compensation expense for the periods indicated was as follows ($000):


	Three Months Ended				Nine Months Ended
March 31,	2021		2020		2021		2020
Stock options and cash-based stock appreciation rights	$	1,328	$	2,154	$	8,662	$	6,813
Restricted share awards and cash-based restricted share unit awards	12,089		10,327		37,972		35,929
Performance share awards and cash-based performance share unit awards	3,320		1,899		13,684		7,058
	$	16,737	$	14,380	$	60,318	$	49,800