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Share-Based Compensation | 6 Months Ended
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Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation |
(12) | SHARE-BASED COMPENSATION
On November 30, 2017, the Company’s shareholders approved the adoption of the 2017 Employee, Director and Consultant Equity Incentive Plan (the “2017 Plan”). On December 5, 2019 the shareholders approved an amendment to the 2017 Plan increasing the shares available to grant. The 2017 Plan allows the Company, under the direction of the Compensation Committee of the Board of Directors, to make grants of restricted and unrestricted stock awards to employees, consultants and directors. As of December 31, 2019, the Company may grant additional shares of common stock under the 2017 Plan with respect to the 0.3 options outstanding under our 2003 Plan and 5.2 options and restricted stock units outstanding under our 2010 Plan, that expire or are cancelled without delivery of shares of common stock. If an RSU awarded under the 2017 Plan is cancelled or forfeited without the issuance of shares of common stock, the unissued or reacquired shares, which were subject to the RSU, shall again be available for issuance pursuant to the 2017 Plan. 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 designated day of the last week 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 RSUs granted to our non-employee directors vest in full upon completion of one year of service on the Board following the date of the grant. Stock Options A summary of the stock option activity under the Company’s plans for the six months ended December 31, 2019 is as follows:
|  | Number of shares |  |  | Weighted average exercise price |
Options outstanding at June 30, 2019 |  |  | 5.5 |  |  | $ | 24.45 |
Options granted |  |  | — |  |  | $ | — |
Less: |  |  |  |  |  |  |  |
Options exercised |  |  | (0.4 | ) |  | $ | 22.83 |
Options canceled or expired |  |  | (0.2 | ) |  | $ | 29.08 |
Options outstanding at December 31, 2019 |  |  | 4.9 |  |  | $ | 24.40 |
Options exercisable at December 31, 2019 |  |  | 4.9 |  |  | $ | 24.40 |
As of December 31, 2019, there was no unrecognized share-based compensation expense related to stock options. Restricted Stock Units A summary of the RSU activity under the Company’s plans for the six months ended December 31, 2019 is as follows:
|  | Number of shares |  |  | Weighted average grant date fair value |
RSUs outstanding at June 30, 2019 |  |  | 2.4 |  |  | $ | 37.70 |
RSUs granted |  |  | 1.3 |  |  | $ | 29.56 |
Less: |  |  |  |  |  |  |  |
RSUs vested |  |  | (0.9 | ) |  | $ | 35.69 |
RSUs canceled |  |  | (0.2 | ) |  | $ | 39.75 |
RSUs outstanding at December 31, 2019 |  |  | 2.6 |  |  | $ | 34.18 |
As of December 31, 2019, there was $59.0 of total unrecognized share-based compensation expense related to RSUs that will be recognized over a weighted-average period of 2.5 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, 2019, approximately 0.5 shares of common stock are available for issuance 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 |  |  | Six months ended |
|  | December 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Cost of molecular diagnostic testing |  | $ | 0.3 |  |  | $ | 0.2 |  |  | $ | 0.5 |  |  | $ | 0.3 |
Cost of pharmaceutical and clinical services |  |  | 0.1 |  |  |  | 0.0 |  |  |  | 0.1 |  |  |  | 0.1 |
Research and development expense |  |  | 1.2 |  |  |  | 1.1 |  |  |  | 2.7 |  |  |  | 2.3 |
Selling, general, and administrative expense |  |  | 5.4 |  |  |  | 6.2 |  |  |  | 12.5 |  |  |  | 12.5 |
Total share-based compensation expense |  | $ | 7.0 |  |  | $ | 7.5 |  |  | $ | 15.8 |  |  | $ | 15.2 |

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