STOCK-BASED COMPENSATION

Stock Options

Changes in our stock options for 2019 were as follows:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2018	989,992		$	33.08
Exercised	(188,528	)	28.47
Lapsed and forfeited	(19,791	)	44.20
Options outstanding, June 30, 2019	781,673		$	33.92	3.5	$	4,158
Options vested and expected to vest, June 30, 2019	781,673		$	33.92	3.5	$	4,158
Options exercisable, June 30, 2019	781,673		$	33.92	3.5	$	4,158

During 2019, 2018 and 2017, compensation expense related to stock options was $0.1 million, $0.7 million and $1.5 million, respectively. As of June 30, 2019, there was no unrecognized compensation cost related to options outstanding.

Fair value of options vested during 2019, 2018 and 2017 was $1.2 million, $1.9 million and $3.3 million, respectively.

Tax benefits relating to excess stock-based compensation deductions are presented in the consolidated statements of cash flow as operating cash inflows for 2019 and 2018 and as financing cash inflows for 2017. Tax benefits resulting from stock-based compensation deductions were greater than the amounts reported for financial reporting purposes by $1.3 million in 2019 and by an immaterial amount in 2018. No tax benefits were realized resulting from stock-based compensation deductions for 2017 due to the valuation allowance on U.S. deferred tax assets.

The amount of cash received from the exercise of capital stock options during 2019, 2018 and 2017 was $4.8 million, $22.2 million and $21.3 million, respectively. The related tax benefit in 2019 and 2018 was $0.5 million and $1.4 million, respectively. No related tax benefit was realized in 2017 due to the valuation allowance on U.S. deferred tax assets. The total intrinsic value of options exercised in 2019, 2018 and 2017 was $2.4 million, $6.6 million and $3.1 million, respectively.

Restricted Stock Units – Time Vesting and Performance Vesting

Performance vesting restricted stock units are earned pro rata each year if certain performance goals are met over a three-year period, and are also subject to a service condition that requires the individual to be employed by the Company at the payment date after the three-year performance period, with the exception of retirement eligible grantees, who upon retirement are entitled to receive payment for any units that have been earned, including a prorated portion in the partially completed fiscal year in which the retirement occurs. Time vesting stock units are valued at the market value of the stock on the grant date. Performance vesting stock units with a market condition are valued using a Monte Carlo model.

Changes in our time vesting and performance vesting restricted stock units for 2019 were as follows:



	Performance Vesting Stock Units		Performance Vesting Weighted Average Fair Value		Time Vesting Stock Units		Time Vesting Weighted Average Fair Value
Unvested, June 30, 2018	409,297		$	31.22	1,083,675		$	30.47
Granted	161,066		40.10		544,297		38.91
Vested	(141,394	)	27.77		(646,155	)	28.73
Performance metric adjustments, net	41,196		29.69		—		—
Forfeited	(64,935	)	32.60		(54,890	)	34.67
Unvested, June 30, 2019	405,230		$	35.58	926,927		$	36.43

During 2019, 2018 and 2017, compensation expense related to time vesting and performance vesting restricted stock units was $21.9 million, $19.4 million and $19.3 million, respectively. As of June 30, 2019, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $17.7 million and is expected to be recognized over a weighted average period of 1.9 years.