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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Jun. 30, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of weighted average fair values per stock-based compensation award granted | Using the fair value of each grant on the date of grant, the weighted average fair values per stock-based compensation award granted during fiscal years 2021, 2020 and 2019 were as follows:
|  | Fiscal Years
|  | 2021 |  | 2020 |  | 2019
SOs (1) |  | $ | 2.89 |  |  | $ | — |  |  | $ | — |
RSUs (1) |  | 7.15 |  |  | 16.48 |  |  | 21.12 |
PSUs (1) |  | 5.83 |  |  | 12.09 |  |  | 14.05 |
_______________________________________________________________________________ (1)The fair value of market-based SOs granted are estimated on the date of grant using either a Monte Carlo valuation model or a Black-Scholes valuation model. The fair value of market-based RSUs and PSUs granted are estimated on the date of grant using a Monte Carlo valuation model. The significant assumptions used in determining the estimated fair value of the market-based awards granted during fiscal years 2021, 2020 and 2019 were as follows:
|  | Fiscal Years
|  | 2021 |  | 2020 |  | 2019
Risk-free interest rate |  | 0.16 - 0.78% |  | 1.43% |  | 2.31 - 2.68%
Expected volatility |  | 44.9 - 66.8% |  | 33.9% |  | 34.2 - 34.6%
Expected dividend yield |  | — | % |  | — | % |  | — | %
Expected term of share options |  | 7.0 years |  | N/A |  | N/A
Schedule of assumptions used in determining estimated fair value of stock options, SARs and market-based RSUs granted | The significant assumptions used in determining the estimated fair value of the market-based awards granted during fiscal years 2021, 2020 and 2019 were as follows:
|  | Fiscal Years
|  | 2021 |  | 2020 |  | 2019
Risk-free interest rate |  | 0.16 - 0.78% |  | 1.43% |  | 2.31 - 2.68%
Expected volatility |  | 44.9 - 66.8% |  | 33.9% |  | 34.2 - 34.6%
Expected dividend yield |  | — | % |  | — | % |  | — | %
Expected term of share options |  | 7.0 years |  | N/A |  | N/A
Schedule of stock-based compensation expense | Stock-based compensation expense was as follows:
|  | Fiscal Years
|  | 2021 |  | 2020 |  | 2019
|  | (Dollars in thousands)
SARs & SOs |  | $ | 456 |  |  | $ | — |  |  | $ | 1,497 |
RSUs & PSUs |  | 2,798 |  |  | 3,275 |  |  | 7,506 |
Total stock-based compensation expense (recorded in G&A) |  | 3,254 |  |  | 3,275 |  |  | 9,003 |
Less: Income tax benefit (1) |  | — |  |  | (688) |  |  | (1,891) |
Total stock-based compensation expense, net of tax |  | $ | 3,254 |  |  | $ | 2,587 |  |  | $ | 7,112 |
_______________________________________________________________________________ (1)Federal statutory income tax rate utilized of 0% due to a valuation allowance in fiscal year 2021 and of 21% utilized in fiscal years 2020 and 2019.
Schedule of activity for outstanding SARs and stock options | Activity for all the Company's outstanding SARs and SOs is as follows:
|  | Shares (in thousands) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value (in thousands)
|  | SARs |  | SOs |  |  |
Outstanding balance at June 30, 2020 |  | 1,285 |  |  | — |  |  | $ | 11.79 |  |  |  |  |
Granted |  | — |  |  | 1,459 |  |  | 6.53 |  |  |  |  |
Forfeited/Expired |  | (187) |  |  | — |  |  | 14.74 |  |  |  |  |
Exercised |  | (57) |  |  | — |  |  | 10.84 |  |  |  |  |
Outstanding balance at June 30, 2021 |  | 1,041 |  |  | 1,459 |  |  | $ | 8.52 |  |  | 7.77 |  | $ | 2,100 |
Exercisable at June 30, 2021 |  | 1,041 |  |  | — |  |  | $ | 11.32 |  |  | 5.67 |  | $ | (2,040) |
Unvested awards, net of estimated forfeitures |  | — |  |  | 1,459 |  |  | $ | 6.53 |  |  | 9.27 |  | $ | 4,129 |
Schedule of activity for RSUs | Activity for all the Company's RSUs is as follows:
|  | Shares/Units (in thousands) |  | Weighted Average Grant Date Fair Value |  | Aggregate Intrinsic Value (in thousands)
|  | RSUs |  |
Outstanding balance at June 30, 2020 |  | 706 |  |  | $ | 17.72 |  |  |
Granted |  | 896 |  |  | 7.15 |  |  |
Forfeited |  | (231) |  |  | 16.00 |  |  |
Vested |  | (196) |  |  | 16.12 |  |  |
Outstanding balance at June 30, 2021 |  | 1,175 |  |  | $ | 10.30 |  |  | $ | 10,998 |
Vested at June 30, 2021 |  | 262 |  |  | $ | 13.76 |  |  | $ | 2,452 |
Unvested awards, net of estimated forfeitures |  | 800 |  |  | $ | 8.87 |  |  | $ | 7,488 |
Schedule of activity for PSUs | Activity for all of the Company's PSUs is as follows:
|  | Shares/Units (in thousands) |  | Weighted Average Grant Date Fair Value |  | Aggregate Intrinsic Value (in thousands)
|  | PSUs |  |
Outstanding balance at June 30, 2020 |  | 710 |  |  | $ | 13.90 |  |  |
Granted |  | 62 |  |  | 5.83 |  |  |
Forfeited |  | (602) |  |  | 13.52 |  |  |
Vested |  | (6) |  |  | 25.11 |  |  |
Outstanding balance at June 30, 2021 |  | 164 |  |  | $ | 12.56 |  |  | $ | 1,535 |
Vested at June 30, 2021 |  | — |  |  | $ | — |  |  | $ | — |
Unvested awards, net of estimated forfeitures |  | 141 |  |  | $ | 10.81 |  |  | $ | 1,320 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock-based compensation awards, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s). + References No definition available. + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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