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STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION
 9 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION STOCKHOLDERS’ 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 2014 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 Company’s common stock. On November 9, 2023, the Company’s stockholders approved the 2014 Plan, which authorized one million additional shares for future awards under the 2014 Plan. The Company also has an employment agreement with its Chief Executive Officer that provides for 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” in the 2023 Form 10-K.
At March 31, 2024, 1,637,528 shares of common stock were authorized for future awards under the 2014 Plan. As of March 31, 2024, the total compensation cost not yet recognized related to non-vested awards was $62.1 million and the weighted-average period over which it is expected to be recognized is 1.3 years.
The following table presents the status and changes in RSUs:
RSUs
Weighted-Average
Grant-Date
Fair Value
Non-vested balance at June 30, 2023
1,407,882 $41.53 
Granted958,682 44.90 
Vested(568,077)39.71 
Forfeited(50,379)40.43 
Non-vested balance at March 31, 2024
1,748,108 $44.00 
The total fair value of shares vested for the three and nine months ended March 31, 2024 was $10.3 million and $25.2 million, respectively. The total fair value of shares vested for the three and nine months ended March 31, 2023 was $7.6 million and $19.7 million, respectively.
Common Stock Repurchases.
The following table presents common stock repurchases:
Three Months EndedNine Months Ended
March 31, March 31,
(Dollars in thousands except per share data)
2024202320242023
Total repurchase
$595 $31,605 $83,781 $31,605 
Number of shares repurchased
12,101 849,081 2,267,610 849,081 
Average price paid per share
$49.22 $37.22 $36.95 $37.22 
On February 12, 2024, the Company announced its Board of Directors’ authorization of a program to repurchase up to $100 million of its common stock. The new share repurchase authorization is in addition to the existing share repurchase plan announced on April 27, 2023, which had approximately $19.8 million remaining as of March 31, 2024. The share repurchase program will continue in effect until terminated by the Board of Directors of the Company. For additional information regarding the Company’s share repurchase program see Note 15—“Stockholders’ Equity” in the 2023 Form 10-K.