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Stock-Based Compensation and Incentive Performance Plans | 6 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation and Incentive Performance Plans | 12. STOCK-BASED COMPENSATION AND INCENTIVE PERFORMANCE PLANS The Company maintains a shareholder-approved plan, The Hain Celestial Group, Inc. 2022 Long Term Incentive and Stock Award Plan (as amended, the “2022 Plan”), which was approved at the Company’s 2022 Annual Meeting of Shareholders held on November 17, 2022, and further amended at the Company’s 2024 Annual Meeting of Shareholders held on October 31, 2024. The 2022 Plan permits the Company to continue making equity-based and other incentive awards in a manner intended to properly incentivize its employees, directors, consultants and other service providers by aligning their interests with the interests of the Company’s shareholders. The 2022 Plan is administered by the Compensation Committee of the Company’s Board of Directors. The Company also historically granted shares under its Amended and Restated 2002 Long-Term Incentive and Stock Award Plan and its 2019 Equity Inducement Award Program. The Company’s long-term incentive program (“LTIP”) is described in Note 13, Stock-Based Compensation and Incentive Performance Plans, in the Notes to the Consolidated Financial Statements in the Form 10-K. In the second quarter of fiscal 2025, a new form of awards was granted to employees that can be settled in cash or stock, at the Company’s discretion. These awards are accounted for as liability-based equity awards, since the Company has the ability and intent to settle such awards in cash. Compensation cost and related income tax benefits recognized in the consolidated statements of operations for stock-based compensation plans were as follows:
|  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Selling, general and administrative expense |  |  |  |  |  |  |  |  |  |  |  |
Stock-based awards |  | $ | 3,573 |  |  | $ | 3,376 |  |  | $ | 6,449 |  |  | $ | 7,118 |
Cash-settled awards |  |  | 272 |  |  |  | — |  |  |  | 272 |  |  |  | — |
Total selling, general and administrative expenses |  | $ | 3,845 |  |  | $ | 3,376 |  |  | $ | 6,721 |  |  | $ | 7,118 |
Related income tax benefit |  | $ | 190 |  |  | $ | 398 |  |  | $ | 473 |  |  | $ | 854 |
Stock-Based Award Activity Stock-based awards are generally issued in the form of restricted share units (“RSUs”), which are service-based awards, and performance share units (“PSUs”) that are subject to the achievement of minimum market conditions or performance goals. RSU awards to employees generally provide for vesting in equal annual installments over a period of three years, with different vesting periods in certain cases. RSU awards to non-employee directors generally provide for a vesting period of one year. For PSU awards, the following share figures are stated at target levels, and the awards outstanding as of December 31, 2024 generally provide for vesting at 0% to 150% or 200% of the target level. Awards of PSUs and RSUs are issued at no cost to the recipient. A summary of all stock-based award activity for the six months ended December 31, 2024 is as follows:
|  | Number of Shares and Units |  |  | Weighted Average Grant Date Fair Value (per share) |
Non-vested RSUs and PSUs outstanding at June 30, 2024 |  |  | 2,165 |  |  | $ | 15.03 |
Granted |  |  | 1,654 |  |  | $ | 8.98 |
Vested |  |  | (524 | ) |  | $ | 13.65 |
Forfeited |  |  | (144 | ) |  | $ | 26.21 |
Non-vested RSUs and PSUs outstanding at December 31, 2024 |  |  | 3,151 |  |  | $ | 11.57 |
The fair value of RSUs and PSUs granted and of shares vested, and the tax benefit recognized from restricted shares vesting was as follows:
|  | Six Months Ended December 31, |
|  | 2024 |  |  | 2023 |
Fair value of RSUs and PSUs granted |  | $ | 14,855 |  |  | $ | 19,286 |
Fair value of shares vested |  | $ | 4,411 |  |  | $ | 5,081 |
Tax benefit recognized from restricted shares vesting |  | $ | 597 |  |  | $ | 650 |
At December 31, 2024, there wa s $26,178 o f unrecognized stock-based compensation expense related to non-vested stock-based awards, which is expected to be recognized over a weighted average period of 1.53 years. Cash-Settled Award Activity The Company grants cash-settled awards that are either service-based or subject to the achievement of minimum market conditions or performance goals. Service-based cash awards generally provide for vesting in equal annual installments over a period of three years, with different vesting periods in certain cases. For cash awards tied to minimum market conditions or performance goals, award amounts are stated at target levels with vesting at 0% to 150% of the target level depending on conditions or performance. Cash-based awards are issued at no cost to the recipient. The fair value of these cash-settled awards is measured at each reporting period until the awards are settled. The performance-based cash-settled award liability at December 31, 2024 was recorded ratably based on the Company's projected achievement at the end of the measurement period. The cash incentive award liability was $272 at December 31, 2024, $180 of which is classified as a liability and reported in accrued expenses and other current liabilities, with the balance included other non-current liabilities within the consolidated balance sheet. During the three months ended December 31, 2024, the estimated fair value of granted cash-settled awards was $4,749. For the reporting period, the Company recognized a forfeiture adjustment of $120. As of December 31, 2024, the total remaining non-vested cash-settled awards outstanding was $4,629. At December 31, 2024, there was $4,353 of unrecognized cash-based compensation expense related to non-vested awards, which is expected to be recognized over a weighted average period of 2.82 years.

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