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Stock-based Compensation | 6 Months Ended
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Dec. 31, 2014
Stock-based Compensation |
Stock-based Compensation | 5. Stock-based Compensation As of December 31, 2014, the Company maintained two share-based employee compensation plans (the “OSI Plans”): the 2012 Incentive Award Plan (“2012 Plan”) and the Amended and Restated 2006 Equity Participation Plan (“2006 Plan”). Upon stockholder approval of the 2012 Plan, the Company ceased to make grants under the 2006 Plan. The Company recorded stock-based compensation expense in the condensed consolidated statements of operations as follows (in thousands):
|  | Three Months Ended December 31, |  | Six Months Ended December 31, |
|  | 2013 |  | 2014 |  | 2013 |  | 2014 |
Cost of goods sold |  | $ | 255 |  | $ | 290 |  | $ | 525 |  | $ | 495 |
Selling, general and administrative |  | 4,770 |  | 5,724 |  | 10,072 |  | 11,488 |
Research and development |  | 58 |  | 68 |  | 124 |  | 95 |
Stock-based compensation expense before taxes |  | $ | 5,083 |  | $ | 6,082 |  | 10,721 |  | $ | 12,078 |
Less: related income tax benefit |  | (1,963 | ) | (2,354 | ) | (4,138 | ) | (4,761 | )
Stock-based compensation expense, net of estimated taxes |  | $ | 3,120 |  | $ | 3,728 |  | $ | 6,583 |  | $ | 7,317 |
As of December 31, 2014, total unrecognized compensation cost related to share-based compensation grants were estimated at $1.2 million for stock options and $24.4 million for restricted stock and restricted stock units (“RSUs”) under the OSI Plans. The Company expects to recognize these costs over a weighted-average period of 1.9 years with respect to the options and 1.8 years for grants of restricted stock and RSUs. The following summarizes stock option activity during the six months ended December 31, 2014:
|  | Number of Options |  | Weighted- Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at June 30, 2014 |  | 1,022,991 |  | $ | 26.60 |  |  |  |  |
Granted |  | 42,476 |  | $ | 68.03 |  |  |  |  |
Exercised |  | (19,803 | ) | $ | 41.00 |  |  |  |  |
Expired or forfeited |  | (2,899 | ) | $ | 58.42 |  |  |  |  |
Outstanding at December 31, 2014 |  | 1,042,765 |  | $ | 27.92 |  | 5.3 years |  | $ | 44,681 |
Exercisable at December 31, 2014 |  | 949,969 |  | $ | 24.19 |  | 4.9 years |  | $ | 43,608 |
The following summarizes restricted stock and RSU award activity during the six months ended December 31, 2014:
|  | Shares |  | Weighted- Average Fair Value |
Nonvested at June 30, 2014 |  | 661,400 |  | $ | 54.78 |
Granted |  | 279,121 |  | 64.65 |
Vested |  | (248,502 | ) | 42.25 |
Forfeited |  | (7,075 | ) | 38.33 |
Nonvested at December 31, 2014 |  | 684,944 |  | $ | 63.52 |
As of December 31, 2014, there were 2,979,007 shares available for grant under the 2012 Plan. Under the terms of that plan, restricted stock and RSUs granted from the pool of shares available for grant on or after December 12, 2012 reduce the pool by 1.87 shares for each share granted. Restricted stock and RSUs forfeited and returned to the pool of shares available for grant increase the pool by 1.87 shares for each share forfeited. The Company granted 160,922 and 151,469 performance-based RSUs during the six months ended December 31, 2013 and 2014, respectively. These performance-based restricted stock awards are contingent on the achievement of certain financial performance metrics. The payout can range from zero to 250% of the original number of shares or units awarded, which are converted into shares of the Company’s common stock.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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