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

6 Months Ended

Dec. 31, 2019

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



	Three Months Ended December 31,				Six Months Ended December 31,
	2019		2018		2019		2018
Stock options	$	2,667	$	2,319	$	4,677	$	4,921
Performance Share Units (issued under LTIP)	1,521		851		2,921		1,694
Restricted Share Units (issued under LTIP)	1,309		1,626		2,969		3,011
Restricted Share Units (other)	10		52		20		133
Deferred Share Units (directors)	1,124		1,032		1,875		1,693
Employee Share Purchase Plan	1,152		1,005		2,212		1,988
Total share-based compensation expense	$	7,783	$	6,885	$	14,674	$	13,440

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



	Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value ($’000s)
Outstanding at June 30, 2019	7,102,753		$	31.82
Granted	982,440		39.33
Exercised	(414,682	)	27.39
Forfeited or expired	(158,906	)	34.48
Outstanding at December 31, 2019	7,511,605		$	32.99	4.02	$	83,257
Exercisable at December 31, 2019	2,855,956		$	28.42	2.55	$	44,688

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



	Three Months Ended December 31,						Six Months Ended December 31,
	2019			2018			2019			2018
Weighted–average fair value of options granted	$	6.74		$	7.37		$	6.49		$	8.55
Weighted-average assumptions used:
Expected volatility	22.03		%	25.95		%	22.09		%	26.05		%
Risk–free interest rate	1.55		%	2.97		%	1.65		%	2.82		%
Expected dividend yield	1.64		%	1.73		%	1.67		%	1.49		%
Expected life (in years)	4.11			4.32			4.11			4.32
Forfeiture rate (based on historical rates)	7		%	6		%	7		%	6		%
Average exercise share price	$	41.13		$	33.97		$	39.33		$	38.56