Stock-Based Compensation

9 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Stock Options

Changes in our stock options for the nine months ended March 31, 2022 were as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2021	315,012	$	37.83

Exercised	(6,916)	31.69
Lapsed or forfeited	(36,253)	41.84
Options outstanding, March 31, 2022	271,843	$	37.45	2.2	$	108
Options vested, March 31, 2022	271,843	$	37.45	2.2	$	108
Options exercisable, March 31, 2022	271,843	$	37.45	2.2	$	108

As of March 31, 2022 and June 30, 2021, there was no unrecognized compensation cost related to options outstanding, and all options were fully vested as of March 31, 2022 and 2021.

The amount of cash received from the exercise of options during the nine months ended March 31, 2022 and 2021 was $0.2 million and $5.6 million, respectively. The total intrinsic value of options exercised was $0.1 million and $2.2 million during the nine months ended March 31, 2022 and 2021, respectively.

Restricted Stock Units – Performance Vesting and Time Vesting

Changes in our performance vesting and time vesting restricted stock units for the nine months ended March 31, 2022 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, 2021	500,477	$	32.53	1,332,740	$	31.72
Granted	108,234	36.70		528,529	36.58
Vested	(36,455)	40.10		(525,184)	32.13
Performance metric adjustments, net	(150,711)	31.18		—	—
Forfeited	(20,581)	32.42		(67,660)	32.29
Unvested, March 31, 2022	400,964	$	33.49	1,268,425	$	33.55

During the nine months ended March 31, 2022 and 2021, compensation expense related to time vesting and performance vesting restricted stock units was $17.2 million and $18.7 million, respectively. Certain performance metrics were not met, resulting in an adjustment of 150,711 performance vesting stock units during the nine months ended March 31, 2022. As of March 31, 2022, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $28.1 million and is expected to be recognized over a weighted average period of 1.9 years.