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Share-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

Total share-based compensation included as a component of selling, general and administrative expenses in our Consolidated Income Statements was as follows:

			Fiscal Year Ended June 30,
			2022						2021						2020
			(in thousands)
Share-based compensation related to:
Equity classified stock options			$	1,848					$	1,332					$	508
Equity classified restricted stock			9,815						6,707						4,970
Total share-based compensation			$	11,663					$	8,039					$	5,478

Weighted Average Assumptions for the Options Granted During the Following Fiscal Years

The Company used the following weighted-average assumptions for the options granted in fiscal year ended June 30, 2021:

			Fiscal Year Ended June 30,
			2021
Expected term			5 years
Expected volatility			42.78%
Risk-free interest rate			0.36%
Dividend yield			0.00%
Weighted-average fair value per option			$9.01

Stock Option Plans

A summary of activity under our stock option plans is presented below:

			Fiscal Year Ended June 30, 2022
			Options						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Life						Aggregate Intrinsic Value
Outstanding, beginning of year			1,235,569						$	31.84
Granted during the period			—						—
Exercised during the period			(78,126)						29.47
Canceled, forfeited, or expired during the period			(34,344)						24.50
Outstanding, end of year			1,123,099						32.23						5.77						$	3,343,205
Vested and expected to vest at June 30, 2022			1,119,804						32.26						5.76						$	3,320,639
Exercisable, end of year			738,461						$	35.92					4.40						$	—

Unvested Shares

A summary of the status of the Company’s shares subject to unvested options is presented below:

			Fiscal Year Ended June 30, 2022
			Options						Weighted Average Exercise Price						Weighted Average Grant Date  Fair Value
Unvested, beginning of year			633,582						$	25.10					$	9.02
Granted			—						—						—
Vested			(214,600)						25.11						9.03
Canceled or forfeited			(34,344)						24.50						8.31
Unvested, end of year			384,638						$	25.16					$	9.08

Stock Options Outstanding

The following table summarizes information about stock options outstanding and exercisable as of June 30, 2022:

						Options Outstanding																		Options Exercisable
Range of Exercise Prices						Shares   Outstanding						Weighted Average Remaining   Contractual Life						Weighted Average Exercise Price						Number Exercisable						Weighted Average Exercise Price
$22.27 - $26.38						418,853						8.38						24.52						128,480						24.55
$26.38 - $30.49						142,825						8.40						27.14						48,560						27.14
$30.49 - $34.60						73,303						5.46						34.06						73,303						34.06
$34.60 - $38.71						208,669						3.84						37.71						208,669						37.71
$38.71 - $42.82						279,449						2.02						41.82						279,449						41.83
						1,123,099						5.77						$	32.23					738,461						$	35.92

Restricted Stock Outstanding

During the fiscal year ended June 30, 2022, the Company granted 381,204 shares of restricted stock to employees and non-employee directors, all of which were issued in the form of RSUs:

			Fiscal Year Ended June 30, 2022
			Shares granted						Date granted						Grant date fair value						Vesting period
Employees
Certain employees based on performance			255,438						August 27, 2021						$	36.05					Annually over 4 years
Certain employees based on performance			36,927						August 27, 2021						$	36.05					Annually over 3 years
Certain employees based on performance			36,931						August 27, 2021						$	41.26					Annually over 3 years
Certain employees based upon hire			8,671						September 1, 2021						$	34.60					Annually over 4 years
Certain employees based on performance			3,041						December 1, 2021						$	30.46					Annually over 4 years
Certain employees based on performance			3,020						March 1, 2022						$	35.51					Annually over 4 years
Certain employees based on performance			1,294						June 1, 2022						$	38.73					Annually over 4 years
Certain employees based on hire			2,582						June 1, 2022						$	38.73					Annually over 4 years
Non-Employee Directors
Certain Directors			33,300						August 27, 2021						$	36.05					6 months

A summary of the status of the Company’s outstanding restricted stock is presented below:

			Fiscal Year Ended June 30, 2022
			Shares						Weighted-Average Grant Date Fair Value
Outstanding, beginning of year			537,983						$	27.99
Granted during the period			381,204						36.47
Vested during the period			(237,943)						30.54
Cancelled, forfeited, or expired during the period			(41,902)						28.93
Outstanding, end of year			639,342						$	32.04

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Tabular disclosure of share-based payment arrangement.

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