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Stock Benefit Plans (Tables)
 12 Months Ended
Jun. 30, 2020
Stock Option Award Activity

The following table summarizes the stock option award activity under the plans in fiscal years 2020 and 2019:

 

 

 

Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Life

(In years)

 

 

Aggregate Intrinsic Value

(In thousands)

 

Outstanding at June 30, 2018

 

 

3,513,963

 

 

$

5.65

 

 

 

4.18

 

 

$

24,989

 

Granted

 

 

81,029

 

 

 

14.52

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,147,124

)

 

 

6.71

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(28,349

)

 

 

4.64

 

 

 

 

 

 

 

 

 

Expired

 

 

(7,797

)

 

 

11.17

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2019

 

 

2,411,722

 

 

$

5.44

 

 

 

3.64

 

 

$

25,123

 

Granted

 

 

39,010

 

 

 

11.42

 

 

 

 

 

 

 

 

 

Exercised

 

 

(777,854

)

 

 

5.76

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(68,750

)

 

 

9.17

 

 

 

 

 

 

 

 

 

Expired

 

 

(7,275

)

 

 

10.01

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2020

 

 

1,596,853

 

 

$

5.25

 

 

 

3.18

 

 

$

8,892

 

Vested and expected-to-vest at June 30, 2020 (1)

 

 

1,582,998

 

 

$

5.23

 

 

 

3.17

 

 

$

8,841

 

Vested and exercisable at June 30, 2020

 

 

1,257,570

 

 

$

5.08

 

 

 

2.92

 

 

$

7,213

 

 

(1)

The expected-to-vest options are the result of applying the pre-vesting forfeiture assumption to total outstanding options.
Schedule of Share Based Compensation Options Outstanding and Exercisable By Range of Exercise Price

The following table summarizes outstanding and exercisable stock options by range of exercise price as of June 30, 2020:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range or Exercise Prices

 

Number of Shares

 

 

Weighted Average Remaining Contractual Term

 

 

Weighted Average Exercise Price

 

 

Number of Shares

 

 

Weighted Average Exercise Price

 

$3.40 - $3.40

 

 

50,000

 

 

 

3.59

 

 

$

3.40

 

 

 

41,666

 

 

$

3.40

 

$3.59 - $3.59

 

 

354,167

 

 

 

3.42

 

 

$

3.59

 

 

 

306,771

 

 

$

3.59

 

$3.63 - $3.63

 

 

326,149

 

 

 

3.08

 

 

$

3.63

 

 

 

303,544

 

 

$

3.63

 

$3.91 - $3.91

 

 

75,000

 

 

 

1.34

 

 

$

3.91

 

 

 

75,000

 

 

$

3.91

 

$4.01 - $4.01

 

 

313,770

 

 

 

3.95

 

 

$

4.01

 

 

 

155,956

 

 

$

4.01

 

$4.31 - $5.65

 

 

165,066

 

 

 

1.90

 

 

$

4.90

 

 

 

154,649

 

 

$

4.93

 

$5.80 - $9.55

 

 

160,419

 

 

 

3.08

 

 

$

7.69

 

 

 

116,668

 

 

$

7.16

 

$10.75 - $15.64

 

 

145,294

 

 

 

3.45

 

 

$

14.10

 

 

 

99,309

 

 

$

14.76

 

$15.72 - $15.72

 

 

2,389

 

 

 

5.87

 

 

$

15.72

 

 

 

2,389

 

 

$

15.72

 

$18.35 - $18.35

 

 

4,599

 

 

 

5.57

 

 

$

18.35

 

 

 

1,618

 

 

$

18.35

 

$3.40 - $18.35

 

 

1,596,853

 

 

 

3.18

 

 

$

5.25

 

 

 

1,257,570

 

 

$

5.08

 
Schedule of Total Intrinsic Value, Cash Received and Actual Tax Benefit of All Options Exercised

The following table summarizes the total intrinsic value, the cash received and the actual tax benefit of all options exercised in fiscal years 2020, 2019 and 2018 (in thousands):

 

 

 

Fiscal Year Ended June 30,

 

 

 

2020

 

 

2019

 

 

2018

 

Intrinsic value

 

$

6,145

 

 

$

9,749

 

 

$

6,440

 

Cash received

 

 

4,480

 

 

 

7,702

 

 

 

11,115

 

Tax benefit

 

 

894

 

 

 

1,399

 

 

 

—

 

 
Stock options [Member]  
Schedule of Weighted Average Assumptions

The weighted-average Black-Scholes model assumptions and the weighted-average grant date fair value of stock options in fiscal years 2020, 2019 and 2018 were as follows:

 

 

 

Fiscal Year Ended June 30,

 

 

 

2020

 

 

2019

 

 

2018

 

Expected term (in years)

 

 

4.3

 

 

 

4.4

 

 

 

4.6

 

Expected volatility

 

 

58

%

 

 

56

%

 

 

48

%

Expected dividend yield

 

 

—

 

 

 

—

 

 

 

—

 

Risk-free interest rate

 

 

1.4

%

 

 

2.5

%

 

 

1.9

%

Grant date fair value

 

$

5.30

 

 

$

6.86

 

 

$

2.09

 
Market-based RSUs [Member]  
Schedule of Weighted Average Assumptions

There were no market-based RSU grants during fiscal years 2020 and 2019. The weighted-average Monte Carlo simulation model assumptions in fiscal year 2018 were as follows:

 

 

 

 

 

 

 

Fiscal Year Ended

 

 

 

 

 

 

 

June 30, 2018

 

Expected term (in years)

 

 

 

 

 

 

4.0

 

Expected volatility

 

 

 

 

 

 

50

%

Expected dividend yield

 

 

 

 

 

 

—

 

Risk-free interest rate

 

 

 

 

 

 

2.4

%

Grant date fair value

 

 

 

 

 

$

7.66

 
Schedule of RSU Activity

The following table summarizes the market-based RSU activity under the 2010 Incentive Plan in fiscal years 2020 and 2019:

 

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Contractual Life

(In years)

 

 

Aggregate Intrinsic Value

(In thousands)

 

Outstanding at June 30, 2018

 

 

498,268

 

 

$

4.89

 

 

 

0.96

 

 

$

6,328

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Vested

 

 

(273,941

)

 

 

4.86

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(28,229

)

 

 

4.61

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2019

 

 

196,098

 

 

$

5.00

 

 

 

0.68

 

 

$

3,108

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Vested

 

 

(107,743

)

 

 

4.48

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(15,387

)

 

 

7.36

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2020

 

 

72,968

 

 

$

5.61

 

 

 

0.52

 

 

$

763

 
Service-based RSU [Member]  
Schedule of RSU Activity

The following table summarizes the service-based RSU activity under the plans in fiscal years 2020 and 2019:

 

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Contractual Life

(In years)

 

 

Aggregate Intrinsic Value

(In thousands)

 

Outstanding at June 30, 2018

 

 

2,667,527

 

 

$

4.33

 

 

 

0.86

 

 

$

33,878

 

Granted

 

 

1,042,354

 

 

 

13.96

 

 

 

 

 

 

 

 

 

Vested

 

 

(1,638,840

)

 

 

4.35

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(69,035

)

 

 

8.68

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2019

 

 

2,002,006

 

 

$

9.06

 

 

 

1.10

 

 

$

31,732

 

Granted

 

 

959,740

 

 

 

15.57

 

 

 

 

 

 

 

 

 

Vested

 

 

(1,018,624

)

 

 

8.66

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(146,366

)

 

 

12.86

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2020

 

 

1,796,756

 

 

$

12.37

 

 

 

1.11

 

 

$

18,794

 
Performance-based RSU [Member]  
Schedule of RSU Activity

The following table summarizes the performance-based RSU activity under the 2010 Incentive Plan in fiscal years 2020 and 2019:

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Contractual Life

(In years)

 

 

Aggregate Intrinsic Value

(In thousands)

 

Outstanding at June 30, 2018

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

Granted

 

 

742,547

 

 

 

15.85

 

 

 

 

 

 

 

 

 

Vested

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(25,935

)

 

 

15.85

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2019

 

 

716,612

 

 

$

15.85

 

 

 

1.36

 

 

$

11,358

 

Granted

 

 

752,671

 

 

 

10.46

 

 

 

 

 

 

 

 

 

Vested

 

 

(290,929

)

 

 

16.25

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(80,712

)

 

 

13.89

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2020

 

 

1,097,642

 

 

$

12.37

 

 

 

1.30

 

 

$

11,481