SHARE-BASED COMPENSATION PLANS

9 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-based compensation expense is recognized on a straight-line basis over the requisite service period. Total share-based compensation is shown in the table below:


	Three Months Ended March 31,						Nine Months Ended March 31,
	2020		2019		2020		2019
Equity plan expense	$	3.5	$	(0.5)	$	20.0	$	10.3
Equity plan modified and cash settled	19.0		—		19.0		—
Liability plan (income) expense	(1.9)		—		(1.9)		(2.6)
Fringe expense	0.1		—		1.3		0.5
Total share-based compensation expense	$	20.7	$	(0.5)	$	38.4	$	8.2

The share-based compensation expense for the three and nine months ended March 31, 2020 of $20.7 and $38.4, respectively, includes $23.8 and $44.0 expense offset by $3.1 and $5.6 income, respectively, primarily due to significant executive forfeitures of share-based compensation instruments. For the three and nine months ended March 31, 2020, $19.0 of shared based compensation expense related to the repurchase of Series A-1 Preferred Stock shares from the Company's CEO. The share-based compensation expense for the three and nine months ended March 31, 2019 of $(0.5) and $8.2, respectively, includes $8.5 and $26.0 expense offset by $(9.0) and $(17.8) income, respectively, primarily due to significant executive forfeitures of share-based compensation instruments and the impact of actual forfeitures on the change in estimated forfeiture rates during the period.

As of March 31, 2020, the total unrecognized share-based compensation expense related to stock options, Series A and A-1 Preferred Stock and restricted and other share awards is $36.6, nil and $92.5, respectively. The unrecognized share-based compensation expense related to stock options, Series A and A-1 Preferred stock and restricted and other share awards is expected to be recognized over a weighted-average period of 3.67, nil and 3.58 years, respectively.

Restricted Share Units and Other Share Awards

The Company granted approximately 0.1 million and 5.4 million RSUs and other share awards during the three and nine months ended March 31, 2020, respectively. The Company recognized share-based compensation expense of $4.0 and $2.2 for the three months ended March 31, 2020 and 2019, respectively and $17.0 and $9.9 for the nine months ended March 31, 2020 and 2019, respectively.

Series A Preferred Stock and Series A-1 Preferred Stock

On February 27, 2020, the Company agreed to repurchase 6.9 million shares of Series A-1 Preferred Stock from the CEO for $19.0, which settled in cash during the three months ended March 31, 2020. The repurchase was treated as a modification of stock compensation awards' vesting and settlement terms. The Company recorded an incremental expense of $19.0 related to the modification during the three and nine months ended March 31, 2020.

The Company granted no shares of Series A Preferred Stock and no shares of Series A-1 Preferred Stock during the three and nine months ended March 31, 2020. The Company recognized share-based compensation expense (income) of $15.4 and

$(0.4) for the three months ended March 31, 2020 and 2019, respectively and $16.4 and $(4.6) for the nine months ended March 31, 2020 and 2019, respectively.

Non-Qualified Stock Options

The Company granted nil and 2.2 million non-qualified stock options during the three and nine months ended March 31, 2020, respectively. The Company recognized share-based compensation expense of $1.3 and $(2.3) for the three months ended March 31, 2020 and 2019, respectively and $5.0 and $2.9 for the nine months ended March 31, 2020 and 2019, respectively.