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Share-Based Compensation | 6 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation |
(13) | SHARE-BASED COMPENSATION
The Company maintains a share-based compensation plan, the 2010 Employee, Director and Consultant Equity Incentive Plan, as amended (the “2010 Plan”), that has been approved by the Company’s shareholders. The 2010 Plan allows the Company, under the direction of the Compensation Committee of the Board of Directors, to make grants of stock options, restricted and unrestricted stock awards and other stock-based awards to employees, consultants and directors. On December 1, 2016, the shareholders approved an amendment to the 2010 Plan to add 2.5 to the number of shares of common stock available for grant. At December 31, 2016, 2.7 shares of common stock were available for issuance. If an option or RSU issued or awarded under the 2010 Plan is cancelled or expires without the issuance of shares of common stock, the unissued or reacquired shares, which were subject to the option or RSU, shall again be available for issuance pursuant to the 2010 Plan. In addition, as of December 31, 2016, the Company may grant up to 2.4 additional shares of common stock under the 2010 Plan if options previously granted under the Company’s terminated 2003 Employee, Director and Consultant Option Plan are cancelled or expire without the issuance of shares of common stock by the Company. The number of shares, terms, and vesting periods are determined by the Company’s Board of Directors or a committee thereof on an option-by-option basis. Options generally vest ratably over service periods of four years. Options granted after December 5, 2012 expire eight years from the date of grant, and options granted prior to that date generally expire ten years from the date of grant. In September 2014, the Company began issuing restricted stock units (“RSUs”) in lieu of stock options. RSUs granted to employees generally vest ratably over four years on the anniversary date of the last day of the month in which the RSUs are granted. The number of RSUs awarded to certain executive officers may be reduced if certain additional performance metrics are not met. Options and restricted stock units granted to our non-employee directors vest in full upon the earlier of (i) one full year of service on the Board following date of grant or (ii) the date of the next annual meeting of stockholders. Stock Options A summary of the stock option activity under the Company’s plans for the six months ended December 31, 2016 is as follows:
|  | Number of shares |  |  | Weighted average exercise price |
Options outstanding at June 30, 2016 |  |  | 8.2 |  |  | $ | 24.52 |
Options granted |  |  | — |  |  | $ | — |
Less: |  |  |  |  |  |  |  |
Options exercised |  |  | (0.1 | ) |  | $ | 13.39 |
Options canceled or expired |  |  | — |  |  | $ | — |
Options outstanding at December 31, 2016 |  |  | 8.1 |  |  | $ | 24.60 |
Options exercisable at December 31, 2016 |  |  | 7.6 |  |  | $ | 24.46 |
As of December 31, 2016, there was $3.3 of total unrecognized share-based compensation expense related to stock options that will be recognized over a weighted-average period of 0.70 years. Restricted Stock Units A summary of the RSU activity under the Company’s plans for the six months ended December 31, 2016 is as follows:
|  | Number of shares |  |  | Weighted average grant date fair value |
RSUs outstanding at June 30, 2016 |  |  | 1.4 |  |  | $ | 38.76 |
RSUs granted |  |  | 1.1 |  |  | $ | 21.47 |
Less: |  |  |  |  |  |  |  |
RSUs vested |  |  | (0.4 | ) |  | $ | 20.26 |
RSUs canceled |  |  | — |  |  | $ | — |
RSUs outstanding at December 31, 2016 |  |  | 2.1 |  |  | $ | 33.30 |
As of December 31, 2016, there was $41.1 of total unrecognized share-based compensation expense related to RSUs that will be recognized over a weighted-average period of 2.55 years. This unrecognized compensation expense is equal to the fair value of RSUs expected to vest. Employee Stock Purchase Plan The Company also has an Employee Stock Purchase Plan that was approved by shareholders in 2012 (the “2012 Purchase Plan”), under which 2.0 shares of common stock have been authorized. Shares are issued under the 2012 Purchase Plan twice yearly at the end of each offering period. As of December 31, 2016, approximately 0.9 shares of common stock have been issued under the 2012 Purchase Plan. Share-Based Compensation Expense Share-based compensation expense recognized and included in the condensed consolidated statements of income and comprehensive income was allocated as follows:
|  | Three months ended December 31, |  |  | Six months ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Cost of molecular diagnostic testing |  | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.4 |  |  | $ | 0.5 |
Cost of pharmaceutical and clinical services |  |  | 0.0 |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.2 |
Research and development expense |  |  | 1.4 |  |  |  | 1.2 |  |  |  | 3.0 |  |  |  | 2.8 |
Selling, general, and administrative expense |  |  | 5.7 |  |  |  | 6.1 |  |  |  | 11.7 |  |  |  | 12.8 |
Total share-based compensation expense |  | $ | 7.4 |  |  | $ | 7.7 |  |  | $ | 15.2 |  |  | $ | 16.3 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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