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Stockholders' Equity | 6 Months Ended
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Dec. 31, 2017
Stockholders' Equity |
Stockholders' Equity | 7. Stockholders’ Equity Stock-based Compensation On December 11, 2017, our stockholders approved our Amended and Restated 2012 Incentive Award Plan (the “2012 Plan”), which, among other things, increased the maximum number of shares of Common Stock which may be issued under such plan by 1.6 million shares. As of December 31, 2017, we maintained the following share based employee compensation plans: the 2012 Plan and the Amended and Restated 2006 Equity Participation Plan (“2006 Plan”). No further grants may be made under the 2006 Plan. In addition, pursuant to the acquisition of AS&E, we assumed two share based employee compensation plans: the AS&E 2005 Equity and Incentive Plan (“2005 AS&E Plan”) and the AS&E 2014 Equity and Incentive Plan (“2014 AS&E Plan”). No new RSU grants will be made under the 2005 AS&E Plan or the 2014 AS&E Plan. The 2012 Plan, the 2006 Plan, the 2005 AS&E Plan and the 2014 AS&E Plan are collectively referred to as the “OSI Plans”. We 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, |
|  | 2016 |  | 2017 |  | 2016 |  | 2017 |
Cost of goods sold |  | $ | 404 |  | $ | 247 |  | $ | 699 |  | $ | 487 |
Selling, general and administrative |  | 5,222 |  | 5,849 |  | 10,282 |  | 10,960 |
Research and development |  | 121 |  | 157 |  | 176 |  | 293 |
Restructuring |  | 2,482 |  | — |  | 2,902 |  | — |
Stock-based compensation expense before taxes |  | $ | 8,229 |  | $ | 6,253 |  | $ | 14,059 |  | $ | 11,740 |
Less: related income tax benefit |  | (3,206 | ) | (1,935 | ) | (5,450 | ) | (3,627 | )
Stock-based compensation expense, net of estimated taxes |  | $ | 5,023 |  | $ | 4,318 |  | $ | 8,609 |  | $ | 8,113 |
As of December 31, 2017, total unrecognized compensation cost related to share based compensation grants were estimated at $0.8 million for stock options and $25.9 million for RSUs under the OSI Plans. We expect to recognize these costs over a weighted average period of 2.2 years with respect to the stock options and 1.9 years for grants of RSUs. The following summarizes stock option activity during the six months ended December 31, 2017:
|  | Number of Options |  | Weighted Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at June 30, 2017 |  | 780,671 |  | $ | 30.00 |  |  |  |  |
Granted |  | 25,379 |  | $ | 85.83 |  |  |  |  |
Exercised |  | (81,755 | ) | $ | 22.84 |  |  |  |  |
Expired or forfeited |  | (1,904 | ) | $ | 63.33 |  |  |  |  |
Outstanding at December 31, 2017 |  | 722,391 |  | $ | 32.68 |  | 3.3 years |  | $ | 23,985 |
Exercisable at December 31, 2017 |  | 674,129 |  | $ | 29.30 |  | 2.9 years |  | $ | 23,983 |
The following summarizes RSU award activity during the six months ended December 31, 2017:
|  | Shares |  | Weighted- Average Fair Value |
Nonvested at June 30, 2017 |  | 611,687 |  | $ | 65.85 |
Granted |  | 348,187 |  | 74.14 |
Vested |  | (400,338 | ) | 65.26 |
Forfeited |  | (10,596 | ) | 68.20 |
Nonvested at December 31, 2017 |  | 548,940 |  | $ | 71.50 |
As of December 31, 2017, there were approximately 2.3 million shares available for grant under the 2012 Plan. Under the terms of the 2012 Plan, RSUs and restricted stock granted from the pool of shares available for grant reduce the pool by 1.87 shares for each award granted. RSUs and restricted stock forfeited and returned to the pool of shares available for grant increase the pool by 1.87 shares for each award forfeited. We granted 155,488 and 117,346 performance-based RSUs during the six months ended December 31, 2016 and 2017, respectively. These performance-based RSUs are contingent on the achievement of certain performance metrics. The payout can range from zero to 250% of the original number of shares or units awarded. Share Repurchase Program In April 2016, the Board of Directors authorized a stock repurchase program of up to 1.0 million shares. During the six months ended December 31, 2017, no shares were repurchased under the program, which leaves available 872,481 shares under the program. This program does not expire unless our Board of Directors acts to terminate the program. Upon repurchase, the shares are restored to the status of authorized but unissued, and we record them as a reduction in the number of shares of Common Stock issued and outstanding in the consolidated financial statements.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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