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6. Stockholders' Equity

3 Months Ended

Sep. 30, 2020

Equity [Abstract]

Stockholders' Equity

6.	Stockholders’ Equity

Stock Incentive Plans

Our stock incentive plans permit the granting of stock options (both incentive and nonqualified stock options), restricted stock units (“RSUs”), stock appreciation rights, non-vested stock, and performance share units (“PSUs”) to certain employees, directors and consultants. As of September 30, 2020, no stock appreciation rights or non-vested stock was outstanding.

Stock Options

The following table presents a summary of activity during the three months ended September 30, 2020 with respect to our stock options:

						Weighted-
						Average
		Number of				Exercise Price
		Shares				per Share
			(In thousands)
Balance of options outstanding at June 30, 2020			2,055			$	2.72
Forfeited			(32	)			1.70
Expired			(4	)			0.62
Exercised			(199	)			1.83
Balance of options outstanding at September 30, 2020			1,820			$	2.83

Restricted Stock Units

The following table presents a summary of activity during the three months ended September 30, 2020 with respect to our RSUs:

						Weighted-
						Average
						Grant Date
		Number of				Fair Value
		Shares				per Share
			(In thousands)
Balance of RSUs outstanding at June 30, 2020			927			$	3.93
Granted			215				4.71
Vested			(89	)			3.38
Forfeited			(14	)			2.80
Balance of RSUs outstanding at September 30, 2020			1,039			$	4.05

Performance Stock Units

The following table presents a summary of activity during the three months ended September 30, 2020 with respect to our PSUs:

		Number of Shares
			(In thousands)
Balance of PSUs outstanding at June 30, 2020			985
Forfeited			(115	)
Vested			(201	)
Balance of PSUs outstanding at September 30, 2020			669

Employee Stock Purchase Plan

Our 2013 Employee Stock Purchase Plan (“ESPP”) is intended to provide employees with an opportunity to purchase our common stock through accumulated payroll deductions at the end of a specified purchase period. Each of our employees (including officers) is eligible to participate in our ESPP, subject to certain limitations as set forth in our ESPP.

The following table presents a summary of activity during the three months ended September 30, 2020 under our ESPP:

		Number of
		Shares
			(In thousands)
Shares available for issuance at June 30, 2020			404
Shares issued			–
Shares available for issuance at September 30, 2020			404

Share-Based Compensation Expense

The following table presents a summary of share-based compensation expense included in each functional line item on our accompanying unaudited condensed consolidated statements of operations:

		Three Months Ended
		September 30,
		2020				2019
		(In thousands)
Cost of revenue		$	58			$	24
Selling, general and administrative			445				459
Research and development			100				95
Total share-based compensation expense		$	603			$	578

The following table presents the remaining unrecognized share-based compensation expense related to our outstanding share-based awards as of September 30, 2020:


		Remaining				Remaining
		Unrecognized				Weighted-
		Compensation				Average Years
		Expense				To Recognize
			(In thousands)
Stock options		$	1,125				2.3
RSUs			3,795				3.3
PSUs			471				1.8
Stock purchase rights under ESPP			49				0.1
		$	5,440

If there are any modifications or cancellations of the underlying unvested share-based awards, we may be required to accelerate, increase or cancel remaining unearned share-based compensation expense. Future share-based compensation expense and unearned share-based compensation will increase to the extent that we grant additional share-based awards.