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6. Stockholders' Equity

6 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders' Equity

6.	Stockholders’ Equity

Stock Incentive Plans

In November 2020, our stockholders voted to approve the 2020 Performance Incentive Plan (the “2020 Plan”), replacing our Amended and Restated 2010 Stock Incentive Plan (the “2010 Plan”), which expired in September 2020. At the 2010 Plan’s expiration date, approximately 1,097,000 shares of our common stock that remained available for award grants under the 2010 Plan became available for award grants under the 2020 Plan. An additional 2,500,000 shares our common stock are also available for award grants under the 2020 Plan. In addition, any shares of common stock subject to outstanding awards under the 2010 Plan that expire, are cancelled, or otherwise terminate after the expiration date of the 2010 Plan will be available for award grant purposes under the 2020 Plan.

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 December 31, 2020, no stock appreciation rights or non-vested stock was outstanding.

Stock Options

The following table presents a summary of activity during the six months ended December 31, 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
Granted			50				4.41
Forfeited			(37	)			1.80
Expired			(10	)			2.14
Exercised			(249	)			1.80
Balance of options outstanding at December 31, 2020			1,809			$	2.91

Restricted Stock Units

The following table presents a summary of activity during the six months ended December 31, 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			329				4.65
Vested			(165	)			3.71
Forfeited			(18	)			3.02
Balance of RSUs outstanding at December 31, 2020			1,073			$	4.00

Performance Stock Units

During the three months ended December 31, 2020, we granted 415,000 PSUs to certain executive employees. One third of the PSUs will be eligible to vest in each of the three years beginning in fiscal year ending June 30, 2021 if certain earnings per share and revenue targets are met.

The following table presents a summary of activity during the six months ended December 31, 2020 with respect to our PSUs:

		Number of Shares
		(In thousands)
Balance of PSUs outstanding at June 30, 2020			985
Granted			415
Forfeited			(115	)
Vested			(201	)
Balance of PSUs outstanding at December 31, 2020			1,084

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 six months ended December 31, 2020 under our ESPP:

		Number of
		Shares
		(In thousands)
Shares available for issuance at June 30, 2020			404
Shares issued			(69	)
Shares available for issuance at December 31, 2020			335

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								Six Months Ended
		December 31,								December 31,
		2020				2019				2020				2019
		(In thousands)
Cost of revenue		$	85			$	48			$	143			$	72
Selling, general and administrative			671				777				1,116				1,236
Research and development			135				113				235				208
Total share-based compensation expense		$	891			$	938			$	1,494			$	1,516

The following table presents the remaining unrecognized share-based compensation expense related to our outstanding share-based awards as of December 31, 2020:

		Remaining				Remaining
		Unrecognized				Weighted-
		Compensation				Average Years
		Expense				To Recognize
		(In thousands)
Stock options		$	1,125				2.0
RSUs			3,926				2.9
PSUs			1,897				2.0
Stock purchase rights under ESPP			92				0.4
		$	7,040

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.