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SHARE-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of share-based compensation expense | Total share-based compensation from continuing operations is shown in the table below:
| 2023 |  | 2022 |  | 2021
Equity plan expense (a) | $ | 134.7 |  |  | $ | 195.4 |  |  | $ | 25.4 |
Equity plan modified and cash settled | — |  |  | — |  |  | 0.9 |
Liability plan expense (income) | 1.2 |  |  | 0.1 |  |  | 1.6 |
Fringe expense | 1.7 |  |  | 2.3 |  |  | 0.5 |
Total share-based compensation expense(b) | $ | 137.6 |  |  | $ | 197.8 |  |  | $ | 28.4 |
(a) Equity plan shared-based compensation expense of $134.7, $195.4, and $27.4 was recorded to additional paid in capital and presented in the Consolidated Statement of Equity for the fiscal years ended June 30, 2023, 2022, and 2021, respectively. Of the $134.7, $195.4, and $27.4 for the fiscal years ended June 30, 2023, 2022, and 2021, respectively, $0.0, $0.0, and $2.0 was reclassified to discontinued operations. (b)Expenses relating to share-based awards granted to non-Coty employees (Wella) are recorded within other income, net, within the Consolidated Statement of Operations. See Note 27 -Related Party Transactions for additional information.
Schedule of fair value valuation assumptions | The fair value of the Company’s outstanding Series A Preferred Stock were estimated with the following assumptions.
| 2023 |  | 2022 |  | 2021
Expected life, in years | 0.74 years |  | 1.74 years |  | 2.74 years
Expected volatility | 66.31% |  | 65.57% |  | 51.64%
Risk-free rate of return | 5.44% |  | 2.89% |  | 0.46%
Dividend yield on Class A Common Stock | —% |  | 1.56% |  | 1.34%
Schedule of outstanding nonqualified stock option activity | The Company’s outstanding non-qualified stock options as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value |  | Weighted Average Remaining Contractual Term (in years)
Outstanding at July 1, 2022 | 5.8 |  |  | $ | 12.85 |  |  |  |  |
Exercised | (0.1) |  |  | 11.08 |  |  |  |  |
Forfeited | (0.6) |  |  | 11.42 |  |  |  |  |
Outstanding at June 30, 2023 | 5.1 |  |  | $ | 13.06 |  |  |  |  |
Vested and expected to vest at June 30, 2023 | 4.9 |  |  | $ | 13.13 |  |  | $ | — |  |  | 5.10
Exercisable at June 30, 2023 | 4.1 |  |  | $ | 13.48 |  |  | $ | — |  |  | 4.95
Schedule of stock summary | A summary of the aggregated intrinsic value of stock options exercised for fiscal 2023 is presented below:
| 2023 |  |
Intrinsic value of options exercised | $ | 0.1 |  |  |
Schedule of nonvested nonqualified share activity | The Company’s non-vested non-qualified stock options as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Weighted Average Grant Date Fair Value
Non-vested at July 1, 2022 | 2.3 |  |  | $ | 3.14 |
Vested | (0.9) |  |  | 3.70 |
Forfeited | (0.4) |  |  | 2.23 |
Non-vested at June 30, 2023 | 1.0 |  |  | $ | 3.02 |
The Company’s non-vested shares of Series A Preferred Stock as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Weighted Average Grant Date Fair Value
Non-vested at July 1, 2022 | 0.2 |  |  | $ | 3.65 |
Forfeited | (0.2) |  |  | 3.65 |
Non-vested at June 30, 2023 | — |  |  | $ | — |
Scheduled of outstanding Series A preferred shares | The Company’s outstanding Series A Preferred Shares as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value |  | Weighted Average Remaining Contractual Term (in years)
Outstanding at July 1, 2022 | 1.5 |  |  | $ | 22.10 |  |  |  |  |
Forfeited | (0.5) |  |  | 21.52 |  |  |  |  |
Outstanding at June 30, 2023 | 1.0 |  |  | 22.39 |  |  |  |  |
Vested and expected to vest at June 30, 2023 | 1.0 |  |  | $ | 22.39 |  |  | $ | — |  |  | 0.74
Exercisable | 1.0 |  |  | $ | 22.39 |  |  | $ | — |  |  | 0.74
Schedule of outstanding RSU and restricted stock activity | The Company’s outstanding RSUs as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Aggregate Intrinsic Value |  | Weighted Average Remaining Contractual Term
Outstanding at July 1, 2022 | 32.4 |  |  |  |  |
Granted | 17.5 |  |  |  |  |
Settled | (14.9) |  |  |  |  |
Cancelled | (1.1) |  |  |  |  |
Outstanding at June 30, 2023 | 33.9 |  |  |  |  |
Vested and expected to vest at June 30, 2023 | 31.0 |  |  | $ | 381.0 |  |  | 2.26
The Company’s outstanding PRSUs as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Aggregate Intrinsic Value |  | Weighted Average Remaining Contractual Term
Outstanding at July 1, 2022 | — |  |  |  |  |
Granted | 1.2 |  |  |  |  |
Settled | — |  |  |  |  |
Outstanding at June 30, 2023 | 1.2 |  |  |  |  |
Vested and expected to vest at June 30, 2023 | 1.0 |  |  | 12.3 |  |  | 2.31
Schedule of outstanding and non-vested RSU and restricted stock activity | The Company’s outstanding and non-vested RSUs as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Weighted Average Grant Date Fair Value
Outstanding and nonvested at July 1, 2022 | 32.0 |  |  | $ | 8.63 |
Granted | 17.5 |  |  | 9.70 |
Vested | (15.0) |  |  | 8.79 |
Cancelled | (1.1) |  |  | 8.02 |
Outstanding and nonvested at June 30, 2023 | 33.4 |  |  | $ | 9.38 |
The Company’s outstanding and non-vested PRSUs as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Weighted Average Grant Date Fair Value
Outstanding and nonvested at July 1, 2022 | — |  |  |
Granted | 1.2 |  |  | 6.62 |
Vested | — |  |  |
Outstanding and nonvested at June 30, 2023 | 1.2 |  |  | $ | 6.62 |
Schedule of restricted stock activity | The Company’s outstanding restricted stock as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Aggregate Intrinsic Value |  | Weighted Average Remaining Contractual Term
Outstanding at July 1, 2022 | 0.6 |  |  |  |  |
Granted | 0.4 |  |  |  |  |
Settled | (0.3) |  |  |  |  |
Outstanding at June 30, 2023 | 0.7 |  |  |  |  |
Vested and expected to vest at June 30, 2023 | 0.6 |  |  | $ | 7.8 |  |  | 1.95
The Company’s outstanding and non-vested restricted stock as of June 30, 2023 and activity during the fiscal year then ended are presented below:
| Shares (in millions) |  | Weighted Average Grant Date Fair Value
Outstanding and nonvested at July 1, 2022 | 0.6 |  |  | $ | 6.58 |
Granted | 0.4 |  |  | 6.62 |
Vested | (0.3) |  |  | 5.94 |
Outstanding and nonvested at June 30, 2023 | 0.7 |  |  | $ | 6.94 |

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