XML 46 R35.htm IDEA: XBRL DOCUMENT v3.22.2.2
Stock Benefit Plans (Tables)
12 Months Ended
Jun. 30, 2022
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 2022, 2021 and 2020 were as follows:

 

 

 

Fiscal Year Ended June 30,

 

 

 

2022

 

 

2021

 

 

2020

 

Expected term (in years)

 

 

4.4

 

 

 

4.5

 

 

 

4.3

 

Expected volatility

 

 

58

%

 

 

61

%

 

 

58

%

Expected dividend yield

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

1.0

%

 

 

0.6

%

 

 

1.4

%

Grant date fair value

 

$

8.12

 

 

$

7.85

 

 

$

5.30

 

Stock Option Award Activity

The following table summarizes the stock option award activity under the plans in fiscal years 2022 and 2021:

 

 

 

Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Life

(In years)

 

 

Aggregate Intrinsic Value

(In thousands)

 

Outstanding at June 30, 2020

 

 

1,596,853

 

 

$

5.25

 

 

 

3.18

 

 

$

8,892

 

Granted

 

 

106,186

 

 

 

16.28

 

 

 

 

 

 

 

 

 

Exercised

 

 

(758,447

)

 

 

5.64

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(17,051

)

 

 

9.28

 

 

 

 

 

 

 

 

 

Expired

 

 

(9,448

)

 

 

8.89

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2021

 

 

918,093

 

 

$

6.10

 

 

 

2.89

 

 

$

11,578

 

Granted

 

 

58,420

 

 

 

17.38

 

 

 

 

 

 

 

 

 

Exercised

 

 

(412,941

)

 

 

4.48

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(9,134

)

 

 

11.36

 

 

 

 

 

 

 

 

 

Expired

 

 

(6,819

)

 

 

13.78

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2022

 

 

547,619

 

 

$

8.33

 

 

 

2.76

 

 

$

2,110

 

Vested and expected-to-vest at June 30, 2022 (1)

 

 

538,186

 

 

$

8.17

 

 

 

2.71

 

 

$

2,109

 

Vested and exercisable at June 30, 2022

 

 

440,250

 

 

$

6.19

 

 

 

2.06

 

 

$

2,106

 

 

(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, 2022:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range or Exercise Prices

 

Number of Shares

 

 

Weighted Average Remaining Contractual Term

 

 

Weighted Average Exercise Price

 

 

Number of Shares

 

 

Weighted Average Exercise Price

 

$3.40 - $3.40

 

 

50,000

 

 

 

1.59

 

 

$

3.40

 

 

 

50,000

 

 

$

3.40

 

$3.63 - $3.63

 

 

137,125

 

 

 

1.08

 

 

$

3.63

 

 

 

137,125

 

 

$

3.63

 

$4.01 - $4.01

 

 

103,675

 

 

 

2.06

 

 

$

4.01

 

 

 

103,128

 

 

$

4.01

 

$5.80 - $7.20

 

 

66,666

 

 

 

0.70

 

 

$

6.06

 

 

 

66,666

 

 

$

6.06

 

$9.69 - $11.71

 

 

61,586

 

 

 

5.17

 

 

$

11.49

 

 

 

33,734

 

 

$

11.35

 

$11.98 - $17.16

 

 

25,329

 

 

 

3.76

 

 

$

13.74

 

 

 

20,554

 

 

$

13.71

 

$18.32 - $18.32

 

 

50,000

 

 

 

6.07

 

 

$

18.32

 

 

 

11,458

 

 

$

18.32

 

$18.35 - $18.35

 

 

1,890

 

 

 

3.01

 

 

$

18.35

 

 

 

1,654

 

 

$

18.35

 

$20.73 - $20.73

 

 

50,000

 

 

 

5.83

 

 

$

20.73

 

 

 

14,583

 

 

$

20.73

 

$24.46 - $24.46

 

 

1,348

 

 

 

5.61

 

 

$

24.46

 

 

 

1,348

 

 

$

24.46

 

$3.40 - $24.46

 

 

547,619

 

 

 

2.76

 

 

$

8.33

 

 

 

440,250

 

 

$

6.19

 

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 2022, 2021 and 2020 (in thousands):

 

 

 

Fiscal Year Ended June 30,

 

 

 

2022

 

 

2021

 

 

2020

 

Intrinsic value

 

$

4,262

 

 

$

9,408

 

 

$

6,145

 

Cash received

 

 

1,850

 

 

 

4,279

 

 

 

4,480

 

Tax benefit

 

 

725

 

 

 

1,569

 

 

 

894

 

 

Service-based RSU [Member]  
Schedule of RSU Activity

The following table summarizes the service-based RSU activity under the plans in fiscal years 2022 and 2021:

 

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Contractual Life

(In years)

 

 

Aggregate Intrinsic Value

(In thousands)

 

Outstanding at June 30, 2020

 

 

1,842,378

 

 

$

12.37

 

 

 

1.11

 

 

$

18,794

 

Granted

 

 

1,026,425

 

 

 

13.28

 

 

 

 

 

 

 

 

 

Vested

 

 

(872,952

)

 

 

11.83

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(118,211

)

 

 

14.14

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2021

 

 

1,877,640

 

 

$

12.97

 

 

 

1.26

 

 

$

34,039

 

Granted

 

 

1,134,351

 

 

 

16.05

 

 

 

 

 

 

 

 

 

Vested

 

 

(751,246

)

 

 

13.34

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(370,264

)

 

 

14.68

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2022

 

 

1,890,481

 

 

$

14.33

 

 

 

1.32

 

 

$

19,018

 

Market-based RSUs [Member]  
Schedule of RSU Activity

The following table summarizes the market-based RSU activity under the 2010 Incentive Plan in fiscal years 2022 and 2021:

 

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Contractual Life

(In years)

 

 

Aggregate Intrinsic Value

(In thousands)

 

Outstanding at June 30, 2020

 

 

27,346

 

 

$

5.61

 

 

 

0.52

 

 

$

763

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(20,507

)

 

 

4.60

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(2,999

)

 

 

8.90

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2021

 

 

3,840

 

 

$

8.43

 

 

 

0.37

 

 

$

919

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(3,783

)

 

 

8.45

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(57

)

 

 

7.01

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2022

 

 

 

 

$

 

 

 

 

 

$

 

Performance-based RSU [Member]  
Schedule of RSU Activity

The following table summarizes the performance-based RSU activity under the 2010 Incentive Plan in fiscal years 2022 and 2021:

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Contractual Life

(In years)

 

 

Aggregate Intrinsic Value

(In thousands)

 

Outstanding at June 30, 2020

 

 

1,097,642

 

 

$

12.37

 

 

 

1.30

 

 

$

11,481

 

Granted

 

 

704,485

 

 

 

18.58

 

 

 

 

 

 

 

 

 

Vested

 

 

(418,464

)

 

 

13.37

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(125,325

)

 

 

13.89

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2021

 

 

1,258,338

 

 

$

16.10

 

 

 

1.19

 

 

$

23,380

 

Granted

 

 

754,572

 

 

 

10.06

 

 

 

 

 

 

 

 

 

Vested

 

 

(539,108

)

 

 

16.15

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(249,825

)

 

 

13.74

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2022

 

 

1,223,977

 

 

$

13.32

 

 

 

1.12

 

 

$

12,313

 

Employee Stock Purchase Plan [Member]  
Schedule of Fair Value of Purchase Rights

The fair value of the purchase rights for the ESPP are estimated on the date of grant using the Black-Scholes model with the following assumptions:

 

 

Fiscal Year Ended

June 30, 2022

 

Expected term (in years)

 

0.5 - 2.0

 

Expected volatility

 

48% - 64%

 

Expected dividend yield

 

 

 

Risk-free interest rate

 

0.3% - 1.0%

 

Grant date fair value

 

$3.72 - $5.33