Share Capital, Option Plans and Share-Based Payments (Tables)

9 Months Ended

Mar. 31, 2019

Total share-based compensation expense for the periods indicated below is detailed as follows:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2019		2018		2019		2018
Stock options	$	2,616	$	983	$	7,537	$	7,014
Performance Share Units (issued under LTIP)	879		751		2,573		2,723
Restricted Share Units (issued under LTIP)	1,687		1,588		4,698		4,987
Restricted Share Units (other)	36		146		169		823
Deferred Share Units (directors)	709		701		2,402		2,193
Employee Share Purchase Plan	785		911		2,773		2,733
Total share-based compensation expense	$	6,712	$	5,080	$	20,152	$	20,473

A summary of activity under our stock option plans for the nine months ended March 31, 2019 is as follows:



	Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value ($’000s)
Outstanding at June 30, 2018	7,078,435		$	28.41
Granted	1,245,340		38.16
Exercised	(1,099,752	)	23.49
Forfeited or expired	(292,430	)	31.82
Outstanding at March 31, 2019	6,931,593		$	30.80	4.04	$	53,505
Exercisable at March 31, 2019	2,225,528		$	26.84	3.04	$	25,783

For the periods indicated, the weighted-average fair value of options and weighted-average assumptions were as follows:



	Three Months Ended March 31,						Nine Months Ended March 31,
	2019			2018			2019			2018
Weighted–average fair value of options granted	$	7.64		$	8.14		$	8.28		$	7.48
Weighted-average assumptions used:
Expected volatility	25.60		%	26.95		%	25.92		%	27.10		%
Risk–free interest rate	2.51		%	2.44		%	2.73		%	1.83		%
Expected dividend yield	1.63		%	1.45		%	1.53		%	1.45		%
Expected life (in years)	4.11			4.33			4.26			4.42
Forfeiture rate (based on historical rates)	6		%	6		%	6		%	6		%
Average exercise share price	$	37.24		$	36.50		$	38.16		$	34.55