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Stock Benefit Plans (Tables)
12 Months Ended
Jun. 30, 2017
Stock Option Award Activity

The following table summarizes the stock option award activity under the plans in fiscal years 2017 and 2016:

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

Aggregate

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Intrinsic

 

 

 

 

 

 

 

Exercise

 

 

Contractual Life

 

 

Value

 

 

 

Shares

 

 

Price

 

 

(In years)

 

 

(In thousands)

 

Outstanding at June 30, 2015

 

 

5,878,441

 

 

$

10.07

 

 

2.88

 

 

$

951

 

Granted

 

 

297,586

 

 

 

5.41

 

 

 

 

 

 

 

 

 

Exercised

 

 

(4,531

)

 

 

5.79

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(143,863

)

 

 

7.84

 

 

 

 

 

 

 

 

 

Expired

 

 

(1,720,385

)

 

 

10.18

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2016

 

 

4,307,248

 

 

$

9.78

 

 

 

2.67

 

 

$

15

 

Granted

 

 

1,767,018

 

 

 

3.62

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(137,925

)

 

 

4.31

 

 

 

 

 

 

 

 

 

Expired

 

 

(1,714,762

)

 

 

12.15

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2017

 

 

4,221,579

 

 

$

6.50

 

 

 

4.17

 

 

$

996

 

Vested and expected-to-vest at June 30, 2017 (1)

 

 

4,019,351

 

 

$

6.65

 

 

 

4.07

 

 

$

891

 

Vested and exercisable at June 30, 2017

 

 

2,482,868

 

 

$

8.40

 

 

 

2.85

 

 

$

118

 

 

(1)

The expected-to-vest options are the result of applying the pre-vesting forfeiture assumption to total outstanding options.

Schedule of Share Based Compensation Options Outstanding and Exercisable By Range of Exercise Price

The following table summarizes outstanding and exercisable stock options by range of exercise price as of June 30, 2017:

 

Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Remaining

 

 

Average

 

 

 

 

 

 

Average

 

Range or Exercise Prices

 

Number of Shares

 

 

Contractual Term

 

 

Exercise Price

 

 

Number of Shares

 

 

Exercise Price

 

$2.70 - $3.59

 

 

508,618

 

 

 

6.37

 

 

$

3.48

 

 

 

87,784

 

 

$

3.05

 

$3.63 - $3.63

 

 

1,149,000

 

 

 

6.08

 

 

$

3.63

 

 

 

 

 

 

 

$3.67 - $5.47

 

 

422,499

 

 

 

4.20

 

 

$

4.46

 

 

 

339,320

 

 

$

4.45

 

$5.50 - $5.94

 

 

458,435

 

 

 

4.32

 

 

$

5.82

 

 

 

397,299

 

 

$

5.83

 

$5.96 - $9.24

 

 

425,627

 

 

 

2.58

 

 

$

7.76

 

 

 

411,507

 

 

$

7.77

 

$9.44 - $9.44

 

 

25,000

 

 

 

3.22

 

 

$

9.44

 

 

 

23,437

 

 

$

9.44

 

$9.55 - $9.55

 

 

425,500

 

 

 

3.07

 

 

$

9.55

 

 

 

416,621

 

 

$

9.55

 

$9.64 - $11.26

 

 

276,500

 

 

 

1.71

 

 

$

10.25

 

 

 

276,500

 

 

$

10.25

 

$11.67 - $11.67

 

 

423,700

 

 

 

1.09

 

 

$

11.67

 

 

 

423,700

 

 

$

11.67

 

$12.43 - $15.60

 

 

106,700

 

 

 

1.98

 

 

$

14.82

 

 

 

106,700

 

 

$

14.82

 

$2.70 - $15.60

 

 

4,221,579

 

 

 

4.17

 

 

$

6.50

 

 

 

2,482,868

 

 

$

8.40

 

 

Schedule of Total Intrinsic Value, Cash Received and Actual Tax Benefit of All Options Exercised

The following table summarizes the total intrinsic value, the cash received and the actual tax benefit of all options exercised in fiscal years 2017, 2016 and 2015:

 

 

Fiscal Year Ended June 30,

 

 

 

2017

 

 

2016

 

 

2015

 

Intrinsic value

 

$

 

 

$

1

 

 

$

131

 

Cash received

 

 

 

 

 

26

 

 

 

975

 

Tax benefit

 

 

 

 

 

 

 

 

 

 

Stock options [Member]  
Schedule of Weighted Average Assumptions

The weighted-average Black-Scholes model assumptions and the weighted-average grant date fair value of stock options in fiscal years 2017, 2016 and 2015 were as follows:

 

  

 

Fiscal Year Ended June 30,

 

 

 

2017

 

 

2016

 

 

2015

 

Expected term (in years)

 

 

4.5

 

 

 

3.9

 

 

 

4.6

 

Expected volatility

 

 

45

%

 

 

43

%

 

 

46

%

Expected dividend yield

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

1.3

%

 

 

1.0

%

 

 

1.6

%

Grant date fair value

 

$

1.41

 

 

$

1.83

 

 

$

1.87

 

 

Market-based RSUs [Member]  
Schedule of Weighted Average Assumptions

The Company estimates the fair value of market-based RSUs at the date of the grant using the Monte Carlo simulation model. The weighted-average Monte Carlo simulation model assumptions in fiscal years 2017, 2016 and 2015 were as follows:

 

  

 

Fiscal Year Ended June 30,

 

 

 

2017

 

 

2016

 

 

2015

 

Expected term (in years)

 

 

4.0

 

 

 

4.0

 

 

 

 

Expected volatility

 

 

45

%

 

 

47

%

 

 

 

Expected dividend yield

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

1.1

%

 

 

1.3

%

 

 

 

Grant date fair value

 

$

3.01

 

 

$

5.04

 

 

 

 

 

Schedule of RSU Activity

The following table summarizes the market-based RSU activity under the 2010 Incentive Plan in fiscal years 2017 and 2016:

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

Aggregate

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Intrinsic

 

 

 

 

 

 

 

Grant Date

 

 

Contractual Life

 

 

Value

 

 

 

Shares

 

 

Fair Value

 

 

(In years)

 

 

(In thousands)

 

Outstanding at June 30, 2015

 

 

 

 

$

 

 

 

 

 

$

 

Granted

 

 

1,069,162

 

 

 

5.03

 

 

 

 

 

 

 

 

 

Vested

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(63,560

)

 

 

5.11

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2016

 

 

1,005,602

 

 

$

5.03

 

 

 

1.36

 

 

$

3,570

 

Granted

 

 

312,660

 

 

$

3.01

 

 

 

 

 

 

 

 

 

Vested

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(224,973

)

 

 

4.20

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2017

 

 

1,093,289

 

 

$

4.57

 

 

 

1.22

 

 

$

4,559

 

 

Service-based RSU [Member]  
Schedule of RSU Activity

The following table summarizes the service-based RSU activity under the plans in fiscal years 2017 and 2016:

 

  

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

Aggregate

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Intrinsic

 

 

 

 

 

 

 

Grant Date

 

 

Contractual Life

 

 

Value

 

 

 

Shares

 

 

Fair Value

 

 

(In years)

 

 

(In thousands)

 

Outstanding at June 30, 2015

 

 

3,732,630

 

 

$

7.06

 

 

 

1.32

 

 

$

24,064

 

Granted

 

 

98,999

 

 

 

5.99

 

 

 

 

 

 

 

 

 

Vested

 

 

(1,481,325

)

 

 

6.09

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(438,395

)

 

 

6.12

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2016

 

 

1,911,909

 

 

$

5.79

 

 

 

1.33

 

 

$

6,691

 

Granted

 

 

1,904,506

 

 

 

3.55

 

 

 

 

 

 

 

 

 

Vested

 

 

(907,288

)

 

 

6.10

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(359,464

)

 

 

4.90

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2017

 

 

2,549,663

 

 

$

4.12

 

 

 

1.11

 

 

$

10,632