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EQUITY AND STOCK-BASED COMPENSATION | 3 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
EQUITY AND STOCK-BASED COMPENSATION | EQUITY AND STOCK-BASED COMPENSATION The Company has an equity incentive plan, the Amended and Restated 2014 Stock Incentive Plan (the “2014 Plan”), which provides for the granting of non-qualified and incentive stock options, restricted stock and restricted stock units, stock appreciation rights and other awards to employees, directors and consultants. The Plan is designed to encourage selected employees and directors to improve operations and increase profits, and to accept or continue employment or association with the Company through participation in the growth in the value of the common stock. The Company also has an employment agreement with its Chief Executive Officer that authorizes an award of restricted stock units (the “RSU award”). For additional information regarding the Company’s stock-based compensation plans, see Note 16—“Stock-based Compensation” contained in the 2022 Form 10-K. At September 30, 2022, 1,614,701 shares of common stock remained available for issuance pursuant to grant awards under the 2014 Plan and unrecognized compensation expense related to non-vested awards aggregated to $47.6 million and is expected to be recognized in future periods as follows:
(Dollars in thousands) | Stock Award Compensation Expense
For the fiscal year remainder: |
Remainder of fiscal year 2023 | $ | 18,487 |
2024 | 17,408 |
2025 | 9,372 |
2026 | 1,913 |
2027 | 400 |
Total | $ | 47,580 |
The status and changes in restricted stock units for the period indicated:
| Restricted Stock Units |  | Weighted-Average Grant-Date Fair Value
Non-vested balance at June 30, 2022 | 1,350,763 |  |  | $ | 41.16 |
Granted | 400,339 |  |  | 38.99 |
Vested | (291,430) |  |  | 31.88 |
Forfeited | (19,210) |  |  | 41.62 |
Non-vested balance at September 30, 2022 | 1,440,462 |  |  | $ | 42.43 |
The total fair value of shares vested for the three months ended September 30, 2022 was $12.0 million. The weighted-average remaining time period until vesting for restricted stock units as of September 30, 2022 was 1.5 years.

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