v2.4.0.6
Stock Option Plan
 6 Months Ended
Dec. 31, 2012
Stock Option Plan  
Stock Option Plan

7.    Stock Option Plan

 

Stock Options

 

Stock option activity during the six months ended December 31, 2012 was as follows:

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

 

 

Exercise

 

Contractual

 

Intrinsic

 

 

 

Shares

 

Price

 

Life (Years)

 

Value

 

 

 

 

 

 

 

 

 

 

 

Outstanding, June 30, 2012

 

2,949,940

 

$

20.41

 

4.21

 

$

36,916

 

Granted

 

222,009

 

21.30

 

 

 

 

 

Exercised

 

(69,989

)

8.64

 

 

 

 

 

Forfeited or canceled

 

(322,790

)

29.58

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2012

 

2,779,170

 

$

20.59

 

4.02

 

$

8,254

 

 

 

 

 

 

 

 

 

 

 

Stock options exercisable at December 31, 2012

 

1,912,034

 

$

18.20

 

3.51

 

$

6,943

 

 

The aggregate intrinsic value of options exercised during the six months ended December 31, 2012 was $0.8 million. The weighted-average grant date fair value of options granted was $10.50 during the six months ended December 31, 2012.

 

As of December 31, 2012, there was $7.2 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 2.8 years. During the three months ended December 31, 2012 and December 31, 2011, the Company recognized $1.0 million and $1.1 million, respectively, of stock-based compensation expense related to stock options. During the six months ended December 31, 2012 and December 31, 2011, the Company recognized $2.1 million and $2.2 million, respectively, of stock-based compensation expense related to stock options.

 

Restricted Stock Awards

 

Restricted stock award activity during the six months ended December 31, 2012 was as follows:

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

Shares

 

Fair Value

 

 

 

 

 

 

 

Outstanding, June 30, 2012

 

591,637

 

$

25.12

 

Granted

 

404,073

 

21.40

 

Vested

 

(136,325

)

21.44

 

Forfeited or canceled

 

(12,697

)

25.62

 

 

 

 

 

 

 

Outstanding, December 31, 2012

 

846,688

 

$

23.57

 

 

As of December 31, 2012, there was $12.6 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 six months ended December 31, 2012 was $2.9 million. During the three months ended December 31, 2012 and December 31, 2011, the Company recognized $1.9 million and $1.4 million, respectively, of stock-based compensation expense related to restricted stock awards. During the six months ended December 31, 2012 and December 31, 2011, the Company recognized $3.7 million and $2.5 million, respectively, of stock-based compensation expense related to restricted stock awards.