Stock-Based Compensation

3 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

On January 6, 2014, the Company’s Board of Directors adopted the Malibu Boats, Inc. Long-Term Incentive Plan (the “Incentive Plan”). The Incentive Plan, which became effective on January 1, 2014, reserves for issuance up to 1,700,000 shares of Malibu Boats, Inc. Class A Common Stock for the Company’s employees, consultants, members of its board of directors and other independent contractors at the discretion of the compensation committee. Incentive stock awards authorized under the Incentive Plan include unrestricted shares of Class A Common Stock, stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalent awards and performance awards. As of September 30, 2015, 1,556,728 shares remain available for future issuance under the Incentive Plan. Readers should refer to Note 13 to the fiscal 2015 audited consolidated financial statements contained in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2015, for additional information related to the Company's awards and the Incentive Plan.

The following is a summary of the changes in non-vested restricted shares for the three months ended September 30, 2015:



	Number of Restricted Stock Units Outstanding		Weighted Average Grant Date Fair Value
Total Non-vested Restricted Stock Units as of June 30, 2015	44,775		$	20.20
Granted	3,378		13.98
Vested	(3,378	)	13.98
Total Non-vested Restricted Stock Units as of September 30, 2015	44,775		$	20.20

Stock compensation expense attributable to the Company's restricted shares was $340 and $487 for the three months ended September 30, 2015 and 2014, respectively. Stock compensation expense attributed to equity awards issued under the Incentive Plan and under the previously existing LLC Agreement is recognized on a straight-line basis over the terms of the respective awards and is included in general and administrative expense in the Company's unaudited condensed consolidated statement of operations and comprehensive income (loss). The cash flow effects resulting from restricted unit awards were reflected as noncash operating activities. As of September 30, 2015 and June 30, 2015, unrecognized compensation cost related to nonvested, share-based compensation was $1,918 and $2,258, respectively. As of September 30, 2015, the weighted average years outstanding for unvested awards under the Incentive Plan and under the previously existing LLC Agreement were 2.9 and 1.1 years, respectively. During the three months ended September 30, 2015, the Company withheld approximately 3,781 restricted stock awards at an aggregate cost of approximately $80, as permitted by the applicable equity award agreements, to satisfy employee tax withholding requirements related to 11,068 restricted stock awards that vested on June 27, 2015. Restricted stock awards vesting during the first quarter include 3,378 fully vested restricted stock units issued to non-employee directors for their services as directors for the Company.