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Stock-Based Compensation (Tables)

6 Months Ended

Dec. 31, 2023

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock-based compensation expense

Stock-based compensation expense, which is included in student services and administrative expense, and the related income tax benefit were as follows (in thousands):

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Three Months Ended

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Six Months Ended

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December 31,

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December 31,

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2023

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2022

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2023

​

2022

Stock-based compensation

​

$

6,050

​

$

1,968

​

$

13,505

​

$

8,113

Income tax benefit

​

(2,488)

​

(622)

​

(4,983)

​

(2,303)

Stock-based compensation, net of tax

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$

3,562

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$

1,346

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$

8,522

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$

5,810

Summary of Options Activity

The following table summarizes stock option activity for the six months ended December 31, 2023:

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​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

​	​	​	​	​		​	Weighted-Average	​	​
​	​	Number of	​	​		​	Remaining	​	Aggregate
​	​	Stock	​	Weighted-Average		​	Contractual Life	​	Intrinsic Value
​	​	Options	​	Exercise Price		​	(in years)	​	(in thousands)
Outstanding as of July 1, 2023		1,045,801	​	$	36.02		​	​	​	​
Exercised		(451,040)	​	​	33.95		​	​	​	​
Expired		(1,144)	​	​	28.32		​	​	​	​
Outstanding as of December 31, 2023		593,617	​		37.61		6.4	​	$	12,669
Exercisable as of December 31, 2023		453,942	​	$	38.36		6.1	​	$	9,349

Summary of Restricted Stock Units Activity

The following table summarizes RSU activity for the six months ended December 31, 2023:

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​	​	​	​	​	​
​	​	​	​	Weighted-Average
​	​	Number of	​	Grant Date
​	​	RSUs	​	Fair Value
Unvested as of July 1, 2023		737,733	​	$	37.22
Granted		393,270	​		44.17
Vested		(282,447)	​		37.85
Forfeited		(11,847)	​		40.42
Unvested as of December 31, 2023		836,709	​	$	40.23

Summary of Performance Shares Unit Activity

The following table summarizes PSU activity for the six months ended December 31, 2023:

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​	​	​	​	​	​
​	​	​	​	Weighted-Average
​	​	Number of	​	Grant Date
​	​	PSUs	​	Fair Value
Unvested as of July 1, 2023		490,300	​	$	35.17
Granted (1)		333,210	​		50.07
Vested		(126,918)	​		29.92
Forfeited		(48,712)	​		31.50
Unvested as of December 31, 2023		647,880	​	$	43.79
(1) Includes incremental PSUs awarded upon achievement of metrics.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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-Name Accounting Standards Codification
-Topic 718
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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

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