Share-based compensation (Tables)
|
6 Months Ended |
Dec. 29, 2017 |
|---|
| Effect of Recording Share-Based Compensation Expense |
The effect of recording share-based compensation expense for the
three and six months ended December 29, 2017 and
December 30, 2016 was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| (amount in thousands) |
|
December 29,
2017 |
|
|
December 30,
2016 |
|
|
December 29,
2017 |
|
|
December 30,
2016 |
|
|
Share-based compensation expense by type of award:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restricted share units
|
|
|
4,586 |
|
|
|
7,633 |
|
|
|
9,433 |
|
|
|
12,453 |
|
|
Performance share units
|
|
|
872 |
|
|
|
964 |
|
|
|
2,945 |
|
|
|
1,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total share-based compensation expense
|
|
|
5,458 |
|
|
|
8,597 |
|
|
|
12,378 |
|
|
|
14,208 |
|
|
Tax effect on share-based compensation expense
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net effect on share-based compensation expense
|
|
$ |
5,458 |
|
|
$ |
8,597 |
|
|
$ |
12,378 |
|
|
$ |
14,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Share-Based Compensation Expense Recorded in Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income |
Share-based compensation expense was recorded in the unaudited
condensed consolidated statements of operations and comprehensive
income as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months ended |
|
|
Six Months Ended |
|
| (amount in thousands) |
|
December 29,
2017 |
|
|
December 30,
2016 |
|
|
December 29,
2017 |
|
|
December 30,
2016 |
|
|
Cost of revenue
|
|
$ |
1,812 |
|
|
$ |
1,514 |
|
|
$ |
3,713 |
|
|
$ |
2,528 |
|
|
Selling, general and administrative expense
|
|
|
3,646 |
|
|
|
7,083 |
|
|
|
8,665 |
|
|
|
11,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total share-based compensation expense
|
|
$ |
5,458 |
|
|
$ |
8,597 |
|
|
$ |
12,378 |
|
|
$ |
14,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Share Option Activity |
The following summarizes share option activity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number
of Shares |
|
|
Number of
Exercisable
Options |
|
|
Weighted-
Average
Exercise Price
Per Share |
|
|
Weighted-
Average Grant
Date Fair Value
Per Share |
|
|
Balance as of June 30, 2017
|
|
|
96,688 |
|
|
|
96,688 |
|
|
$ |
15.70 |
|
|
|
|
|
|
Granted
|
|
|
— |
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
Exercised
|
|
|
(62,631 |
) |
|
|
|
|
|
$ |
15.80 |
|
|
|
|
|
|
Forfeited
|
|
|
— |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
Expired
|
|
|
— |
|
|
|
|
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 29, 2017
|
|
|
34,057 |
|
|
|
34,057 |
|
|
$ |
15.52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number
of Shares |
|
|
Number of
Exercisable
Options |
|
|
Weighted-
Average
Exercise Price
Per Share |
|
|
Weighted-
Average Grant
Date Fair Value
Per Share |
|
|
Balance as of June 24, 2016
|
|
|
464,334 |
|
|
|
464,334 |
|
|
$ |
15.95 |
|
|
|
|
|
|
Granted
|
|
|
— |
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
Exercised
|
|
|
(365,066 |
) |
|
|
|
|
|
$ |
16.02 |
|
|
|
|
|
|
Forfeited
|
|
|
— |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
Expired
|
|
|
(5 |
) |
|
|
|
|
|
$ |
5.75 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 30, 2016
|
|
|
99,263 |
|
|
|
99,263 |
|
|
$ |
15.71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Information for Share Options Outstanding |
The following summarizes information for share options outstanding
as of December 29, 2017 under the 2010 Plan:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Range of
Exercise Price |
|
|
Number of
Shares
Underlying
Options |
|
|
Weighted-
Average
Remaining
Contractual
Life (years) |
|
|
Aggregate
Intrinsic Value
(amount in thousands) |
|
|
|
|
$14.12 |
|
|
|
21,638 |
|
|
|
0.86 |
|
|
|
|
|
|
|
|
$15.16 |
|
|
|
5,369 |
|
|
|
0.63 |
|
|
|
|
|
|
|
|
$18.60 -$25.50 |
|
|
|
7,050 |
|
|
|
0.93 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding
|
|
|
|
|
|
|
34,057 |
|
|
|
0.84 |
|
|
$ |
449 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable
|
|
|
|
|
|
|
34,057 |
|
|
|
0.84 |
|
|
$ |
449 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Restricted Share Unit Activity |
The following summarizes restricted share unit activity under the
2010 Plan and the 2017 Inducement Plan:
|
|
|
|
|
|
|
|
|
| |
|
Number
of Shares |
|
|
Weighted-
Average Grant
Date Fair Value
Per Share |
|
|
Balance as of June 30, 2017
|
|
|
1,058,605 |
|
|
$ |
31.59 |
|
|
Granted
|
|
|
430,948 |
|
|
|
37.12 |
|
|
Issued
|
|
|
(285,902 |
) |
|
|
27.00 |
|
|
Forfeited
|
|
|
(39,657 |
) |
|
|
35.97 |
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 29, 2017
|
|
|
1,163,994 |
|
|
$ |
34.62 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number
of Shares |
|
|
Weighted-
Average Grant
Date Fair Value
Per Share |
|
|
Balance as of June 24, 2016
|
|
|
1,181,402 |
|
|
$ |
18.34 |
|
|
Granted
|
|
|
741,973 |
|
|
|
39.23 |
|
|
Issued
|
|
|
(423,035 |
) |
|
|
16.41 |
|
|
Forfeited
|
|
|
(38,170 |
) |
|
|
22.35 |
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 30, 2016
|
|
|
1,462,170 |
|
|
$ |
29.40 |
|
|
|
|
|
|
|
|
|
|
|
| Performance Share Unit Activity |
The following summarizes performance share unit activity under the
2010 Plan and the 2017 Inducement Plan:
|
|
|
|
|
|
|
|
|
| |
|
Number
of Shares |
|
|
Weighted-
Average Grant
Date Fair Value
Per Share |
|
|
Balance as of June 30, 2017
|
|
|
227,268 |
|
|
$ |
40.48 |
|
|
Granted
|
|
|
378,624 |
(1) |
|
|
37.16 |
|
|
Issued
|
|
|
— |
|
|
|
— |
|
|
Forfeited
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 29, 2017
|
|
|
605,892 |
|
|
$ |
38.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number
of Shares |
|
|
Weighted-
Average Grant
Date Fair Value
Per Share |
|
|
Balance as of June 24, 2016
|
|
|
— |
|
|
|
— |
|
|
Granted
|
|
|
234,678 |
(1) |
|
$ |
40.48 |
|
|
Issued
|
|
|
— |
|
|
|
— |
|
|
Forfeited
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 30, 2016
|
|
|
234,678 |
|
|
$ |
40.48 |
|
|
|
|
|
|
|
|
|
|
| |
(1) |
This represents the target number of
performance share units (PSUs) granted. The actual number of PSUs
that may be earned, if any, is dependent upon performance and may
range from 0% to 100% percent of the target. |
|