v2.4.0.6
Stock Option Plan
 9 Months Ended
Mar. 31, 2012
Stock Option Plan [Abstract]  
Stock Option Plan
7. Stock Option Plan

Stock Options

Stock option activity during the nine months ended March 31, 2012 was as follows:

 

     Shares     Weighted-
Average
Exercise
Price		      Weighted-
Average
Remaining
Contractual
Life (Years)		      Aggregate
Intrinsic
Value		  

Outstanding, June 30, 2011

      2,765,729      $ 19.23         

Granted

      233,986      $ 26.78         

Exercised

      (205,732 )    $ 15.28         

Forfeited or canceled

      (66,841 )    $ 23.70         
  

 

 

          

Outstanding, March 31, 2012

      2,727,142      $ 20.07         4.11       $ 13,330   
  

 

 

       

 

 

     

 

 

  

Stock options exercisable at March 31, 2012

      1,960,862      $ 19.09         3.41       $ 11,256   
  

 

 

       

 

 

     

 

 

  

The total intrinsic value of options exercised during the nine months ended March 31, 2012 was $3.4 million. The weighted-average grant date fair value of options granted during the nine months ended March 31, 2012 was $11.61 .

As of March 31, 2012, there was $6.0 million of total unrecognized compensation expense related to unvested stock options granted. The cost is expected to be recognized over a weighted average period of 2.2 years. During the three months ended March 31, 2012 and March 31, 2011, the Company recognized $1.0 million and $1.2 million, respectively of stock based compensation expense related to stock options. Stock based compensation expense related to stock options that was recognized during the nine months ended March 31, 2012 and March 31, 2011, aggregated $3.2 million and $3.9 million, respectively.

 

Restricted Stock Awards

Restricted stock award activity during the nine months ended March 31, 2012 was as follows:

 

     Shares     Weighted-
Average
Fair
Value		  

Nonvested, June 30, 2011

      444,151      $ 23.62   

Granted

      348,940      $ 26.28   

Vested

      (176,629 )    $ 23.30   

Forfeited or canceled

      (48,239 )    $ 26.85   
  

 

 

    

Nonvested, March 31, 2012

      568,223      $ 25.08   
  

 

 

    

As of March 31, 2012, there was $9.7 million of total unrecognized compensation expense related to unvested restricted stock awards granted. The cost is expected to be recognized over a weighted average period of 2.1 years. The total fair value of shares vested during the nine months ended March 31, 2012 was $4.1 million. During the three months ended March 31, 2012 and March 31, 2011, the Company recognized $1.6 million and $0.8 million, respectively of stock based compensation expense related to restricted stock awards. Stock based compensation expense related to restricted award that was recognized during the nine months ended March 31, 2012 and March 31, 2011, aggregated $4.1 million and $3.6 million, respectively.