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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Restricted Stock Units
The following table includes information related to restricted stock, performance share awards and stock options for the year ended June 30, 2018:
 
Restricted Stock
 
Performance Share Awards
 
Stock Options
 
Number of Awards
Weighted Average Fair Value at Grant Date
 
Number of Awards
Weighted Average Fair Value at Grant Date
 
Number of Options
Weighted Average Exercise Price
Outstanding at June 30, 2017
576,988

$
32.92

 
1,085,872

$
32.79

 
3,372,499

$
30.31

Granted
261,966

$
32.92

 
700,733

$
32.62

 
560,497

$
32.79

Vested/exercised
(183,988
)
$
31.89

 
(352,867
)
$
31.73

 
(284,490
)
$
30.65

Forfeited
(49,093
)
$
32.71

 
(115,691
)
$
32.55

 
(149,255
)
$
33.70

Outstanding at June 30, 2018
605,873

$
33.25

 
1,318,047

$
33.00

 
3,499,251

$
30.53

 
 
 
 
 
 
 
 
 
Stock options outstanding and exercisable at June 30, 2018
 
 
 
 
 
 
2,501,734

$
29.56
Schedule of Performance Share Awards
The following table includes information related to restricted stock, performance share awards and stock options for the year ended June 30, 2018:
 
Restricted Stock
 
Performance Share Awards
 
Stock Options
 
Number of Awards
Weighted Average Fair Value at Grant Date
 
Number of Awards
Weighted Average Fair Value at Grant Date
 
Number of Options
Weighted Average Exercise Price
Outstanding at June 30, 2017
576,988

$
32.92

 
1,085,872

$
32.79

 
3,372,499

$
30.31

Granted
261,966

$
32.92

 
700,733

$
32.62

 
560,497

$
32.79

Vested/exercised
(183,988
)
$
31.89

 
(352,867
)
$
31.73

 
(284,490
)
$
30.65

Forfeited
(49,093
)
$
32.71

 
(115,691
)
$
32.55

 
(149,255
)
$
33.70

Outstanding at June 30, 2018
605,873

$
33.25

 
1,318,047

$
33.00

 
3,499,251

$
30.53

 
 
 
 
 
 
 
 
 
Stock options outstanding and exercisable at June 30, 2018
 
 
 
 
 
 
2,501,734

$
29.56
Schedule of Stock Options Awards
The following table includes information related to restricted stock, performance share awards and stock options for the year ended June 30, 2018:
 
Restricted Stock
 
Performance Share Awards
 
Stock Options
 
Number of Awards
Weighted Average Fair Value at Grant Date
 
Number of Awards
Weighted Average Fair Value at Grant Date
 
Number of Options
Weighted Average Exercise Price
Outstanding at June 30, 2017
576,988

$
32.92

 
1,085,872

$
32.79

 
3,372,499

$
30.31

Granted
261,966

$
32.92

 
700,733

$
32.62

 
560,497

$
32.79

Vested/exercised
(183,988
)
$
31.89

 
(352,867
)
$
31.73

 
(284,490
)
$
30.65

Forfeited
(49,093
)
$
32.71

 
(115,691
)
$
32.55

 
(149,255
)
$
33.70

Outstanding at June 30, 2018
605,873

$
33.25

 
1,318,047

$
33.00

 
3,499,251

$
30.53

 
 
 
 
 
 
 
 
 
Stock options outstanding and exercisable at June 30, 2018
 
 
 
 
 
 
2,501,734

$
29.56
Schedule of Unrecognized Compensation
Unrecognized stock-based compensation expense at June 30, 2018 was as follows (in thousands):
 
Unrecognized Stock-Based Compensation Expense
Weighted Average Amortization Period
Restricted stock
$
8,233

1.65 years
Performance share awards
17,924

1.70 years
Stock options
6,620

1.77 years
Total unrecognized stock-based compensation expense
$
32,777

1.70 years
Summary of the Aggregate Intrinsic Value of Stock Options
The aggregate intrinsic value of stock options at June 30, 2018 was as follows (in thousands):
 
Intrinsic Value of Stock Options
Outstanding and exercisable
$
17,091

Expected to vest
3,398

Total outstanding
$
20,489

 
 
Exercised during the year ended June 30, 2018
$
1,157
Schedule of Fair Value using Black-Scholes Option Pricing Model
The Company estimated the fair value of each stock option on the date of grant using a Black-Scholes option-pricing model, applying the following assumptions, and amortized expense over each option's vesting period using the straight-line attribution approach:
 
June 30,
 
2018
2017
2016
Expected life (a)
6 years
6 years
6 years
Expected dividend (b)
—
—
—
Expected volatility (c)
29.4% - 32.3%
32.0% - 33.0%
32.7% - 33.5%
Risk-free interest rate (d)
1.9% - 2.9%
1.3% - 2.1%
1.2% - 1.8%
Weighted average option grant date fair value
$9.48 - $11.42
$10.48 - $12.00
$11.11 - $12.40
(a)
The six-year expected life (estimated period of time outstanding) of stock options granted was estimated using the "Simplified Method" which utilizes the midpoint between the vesting date and the end of the contractual term. This method was utilized for the stock options due to the lack of historical exercise behavior of Premier's employees.
(b)
No dividends are expected to be paid over the contractual term of the stock options granted, resulting in the use of a zero expected dividend rate.
(c)
The expected volatility rate is based on the observed historical volatilities of comparable companies.
(d)
The risk-free interest rate was interpolated from the five-year and seven-year Constant Maturity Treasury rate published by the United States Treasury as of the date of the grant.