XML 53 R27.htm IDEA: XBRL DOCUMENT v3.25.2
Stock-Based Compensation
 12 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
Stock Options. Changes in our stock options for 2025 were as follows:
OptionsWeighted
Average
Exercise Price		Weighted
Average
Remaining
Life (years)		Aggregate
Intrinsic value
(in thousands)
Options outstanding, June 30, 2024165,310 $34.78 
Exercised— — 
Lapsed and forfeited(63,363)42.13   
Options outstanding, June 30, 2025101,947 $30.20 0.2$29 
Options vested and expected to vest, June 30, 2025101,947 $30.20 0.2$29 
Options exercisable, June 30, 2025101,947 $30.20 0.2$29 
As of June 30, 2025 and 2024, there was no unrecognized compensation cost related to options outstanding. All options were fully vested as of June 30, 2025 and 2024.
Tax benefits relating to excess stock-based compensation deductions are presented in the consolidated statements of cash flows as operating cash inflows. Tax benefits resulting from stock-based compensation deductions were less than the amounts reported for financial reporting purposes by $0.8 million, $1.5 million and $0.8 million in 2025, 2024 and 2023, respectively.
The amount of cash received from the exercise of capital stock options during 2025, 2024 and 2023 was zero. The related tax benefit was zero in 2025, 2024 and 2023. The total intrinsic value of options exercised in 2025, 2024 and 2023 was zero.
Restricted Stock Units – Time Vesting and Performance Vesting. Performance vesting restricted stock units are earned based on both annual and three-year performance targets. The performance vesting restricted stock units are subject to a service condition that requires the individual to be employed by the Company at the payment date after a three-year period, with the exception of retirement eligible grantees. 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 performance vesting and time vesting restricted stock units for 2025 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, 2024552,461 $28.73 1,122,569 $27.36 
Granted303,546 25.15 761,097 25.05 
Vested(112,598)36.72 (549,752)28.64 
Performance metric adjustments, net(107,780)32.98 — — 
Forfeited(67,297)25.94 (136,699)25.56 
Unvested, June 30, 2025568,332 $24.76 1,197,215 $25.50 
During 2025, 2024 and 2023, compensation expense related to performance vesting and time vesting restricted stock units was $21.0 million, $23.4 million and $23.3 million, respectively. Performance vesting stock units were adjusted by 107,780 units during 2025 related to the fiscal 2024 performance year. As of June 30, 2025, the total unrecognized compensation cost related to unvested performance vesting and time vesting restricted stock units was $21.0 million and is expected to be recognized over a weighted average period of 1.7 years.