Stock-Based Compensation

3 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

The Company adopted a long term incentive plan which became effective on January 1, 2014, and 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, 2020, 716,050 shares remain available for future issuance under the long term incentive plan.

The following is a summary of the changes in the Company's stock options for the three months ended September 30, 2020:



	Shares	Weighted Average Exercise Price/Share
Total outstanding options as of June 30, 2020	173,348	$	32.61
Options granted	—	—
Options exercised	(9,625)	31.14

Outstanding options as of September 30, 2020	163,723	32.70
Exercisable as of September 30, 2020	77,744	$	31.50

The following is a summary of the changes in non-vested restricted stock units and restricted stock awards for the three months ended September 30, 2020:


	Number of Restricted Stock Units and Restricted Stock Awards Outstanding	Weighted Average Grant Date Fair Value
Total Non-vested Restricted Stock Units and Restricted Stock Awards as of June 30, 2020	277,696	$	35.43
Granted	1,125	51.95
Vested	(13,187)	18.72
Forfeited	(890)	34.30
Total Non-vested Restricted Stock Units and Restricted Stock Awards as of September 30, 2020	264,744	$	36.34

Stock compensation expense attributable to the Company's share-based equity awards was $811 and $677 for the three months ended September 30, 2020 and 2019, respectively. Stock compensation expense attributed to share-based equity awards issued under the Incentive Plan 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 interim condensed consolidated statement of operations and comprehensive income. Awards vesting during the three months ended September 30, 2020 include 1,125 fully vested restricted stock units issued to non-employee directors for their service as directors for the Company.