Stock-Based Compensation

6 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Options

Changes in our stock options for the six months ended December 31, 2020 were as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2020	646,959	$	33.60

Exercised	(154,912)	20.95
Lapsed or forfeited	(32,514)	42.70
Options outstanding, December 31, 2020	459,533	$	37.22	3.0	$	994
Options vested, December 31, 2020	459,533	$	37.22	3.0	$	994
Options exercisable, December 31, 2020	459,533	$	37.22	3.0	$	994

As of December 31, 2020 and June 30, 2020, there was no unrecognized compensation cost related to options outstanding, and all options were fully vested as of December 31, 2020 and 2019.

The amount of cash received from the exercise of options during the six months ended December 31, 2020 and 2019 was $3.1 million and $0.7 million, respectively. The total intrinsic value of options exercised was $1.6 million and $0.3 million during the six months ended December 31, 2020 and 2019, respectively.

Restricted Stock Units – Performance Vesting and Time Vesting

Changes in our performance vesting and time vesting restricted stock units for the six months ended December 31, 2020 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, 2020	554,633	$	34.26	1,039,695	$	32.48
Granted	220,876	33.49		917,716	31.82
Vested	(73,880)	47.45		(451,338)	34.08
Performance metric adjustments, net	(100,000)	32.92		—	—
Forfeited	(73,136)	33.14		(98,125)	31.37
Unvested, December 31, 2020	528,493	$	32.50	1,407,948	$	31.62

During the six months ended December 31, 2020 and 2019, compensation expense related to time vesting and performance vesting restricted stock units was $12.3 million and $13.4 million, respectively. Certain performance metrics related to fiscal 2020 were not met, resulting in an adjustment of 100,000 performance vesting stock units during the six months ended December 31, 2020. As of December 31, 2020, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $34.0 million and is expected to be recognized over a weighted average period of 2.2 years.