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Stock Incentive Plan and Employee Stock Purchase Plan (Tables)
12 Months Ended
Jun. 30, 2017
Stock Incentive Plan and Employee Stock Purchase Plan  
Summary of share-based compensation charges included in the Company's consolidated statements of operations and comprehensive loss

 

        The following table summarizes the share-based compensation charges included in the Company's consolidated statements of operations and comprehensive loss (in thousands):

                                                                                                                                                                                    

 

 

Years ended June 30,

 

 

 

2017

 

2016

 

2015

 

Cost of revenue

 

$

1,991

 

$

1,677

 

$

1,874

 

Research and development

 

 

2,490

 

 

2,564

 

 

2,971

 

Selling and marketing

 

 

2,827

 

 

2,633

 

 

2,945

 

General and administrative

 

 

6,321

 

 

5,764

 

 

6,140

 

​  

​  

​  

​  

​  

​  

Total

 

$

13,629

 

$

12,638

 

$

13,930

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of assumptions used for determining fair value of stock options

        The fair value of each option is estimated at the date of grant using the Black-Scholes option pricing formula with the following assumptions:

                                                                                                                                                                                    

 

 

Years Ended June 30,

 

 

 

2017

 

2016(1)

 

2015(1)

 

Risk-free interest rate

 

 

1.76

%

 

%

 

%

Dividend yield

 

 

%

 

%

 

%

Expected term

 

 

5.12

 

 

 

 

 

Expected volatility

 

 

46.4

%

 

%

 

%


 

 

 

 

 

(1)          

The Company did not issue any stock options for the years ended June 30, 2016 and 2015.

 

Schedule of option activity under the Company's Incentive Plan

 

        A summary of option activity under the Company's Incentive Plan during the fiscal years is presented below (in thousands except per share and term amounts):

                                                                                                                                                                                    

 

 

Options
Outstanding

 

Weighted
Average
Exercise Price

 

Weighted
Average
Remaining
Contractual
Life (In Years)

 

Aggregate
Intrinsic
Value

 

Balance at June 30, 2014

 

 

3,209

 

$

7.44

 

 

5.38

 

$

8,251

 

Options granted

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(529

)

 

4.84

 

 

 

 

 

 

 

Options forfeited/expired

 

 

(143

)

 

8.72

 

 

 

 

 

 

 

​  

​  

Balance at June 30, 2015

 

 

2,537

 

 

7.91

 

 

5.10

 

$

1,862

 

Options granted

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(59

)

 

4.89

 

 

 

 

 

 

 

Options forfeited/expired

 

 

(101

)

 

7.53

 

 

 

 

 

 

 

​  

​  

Balance at June 30, 2016

 

 

2,377

 

 

8.00

 

 

3.97

 

$

452

 

Options granted

 

 

760

 

 

5.05

 

 

 

 

 

 

 

Options exercised

 

 

(113

)

 

5.18

 

 

 

 

 

 

 

Options forfeited/expired

 

 

(561

)

 

13.38

 

 

 

 

 

 

 

​  

​  

Balance at June 30, 2017

 

 

2,463

 

 

6.05

 

 

5.42

 

$

191

 

​  

​  

​  

​  

Vested or Expected to vest at June 30, 2017

 

 

2,463

 

 

6.05

 

 

5.42

 

$

191

 

​  

​  

​  

​  

Exercisable at June 30, 2017

 

 

1,703

 

$

6.49

 

 

3.64

 

$

191

 

​  

​  

​  

​  

 

Summary of information about outstanding and exercisable options

 

        The following table summarizes information about outstanding and exercisable options at June 30, 2017 (in thousands, except years and exercise price):

                                                                                                                                                                                    

 

 

Options Outstanding

 

Options Exercisable

 

Range of Exercise Prices

 

Number
Outstanding

 

Weighted
Average
Remaining
Contractual
Life (Years)

 

Weighte
Average
Exercise Price

 

Number
Outstanding

 

Weighted
Average
Exercise
Price

 

$4.00 - 4.01

 

 

248

 

 

4.35

 

$

4.01

 

 

248

 

$

4.01

 

$4.23 - 4.94

 

 

61

 

 

1.83

 

 

4.66

 

 

61

 

 

4.66

 

$5.05 - 5.05

 

 

760

 

 

9.42

 

 

5.05

 

 

 

 

 

$5.38 - 5.68

 

 

266

 

 

2.54

 

 

5.65

 

 

266

 

 

5.65

 

$5.74 - 6.28

 

 

394

 

 

4.45

 

 

6.16

 

 

394

 

 

6.16

 

$6.32 - 6.63

 

 

247

 

 

2.97

 

 

6.50

 

 

247

 

 

6.50

 

$6.75 - 6.82

 

 

14

 

 

4.22

 

 

6.77

 

 

14

 

 

6.77

 

$6.96 - 6.96

 

 

276

 

 

5.25

 

 

6.96

 

 

276

 

 

6.96

 

$7.06 - 13.45

 

 

143

 

 

2.20

 

 

9.74

 

 

143

 

 

9.74

 

$15.22 - 15.22

 

 

54

 

 

0.50

 

 

15.22

 

 

54

 

 

15.22

 

​  

​  

​  

​  

Total Outstanding

 

 

2,463

 

 

5.42

 

$

6.05

 

 

1,703

 

$

6.49

 

​  

​  

​  

​  

​  

​  

​  

​  

 

Summary of activity of RSUs, PSUs and MSUs

 

        The following table summarizes the activity of RSUs, PSUs and MSUs (in thousands, except fair value per share):

                                                                                                                                                                                    

Unvested Resstricted Stock

 

Restricted
Stock Units

 

Performance
Stock Units

 

Market
Stock Units

 

Total
Number of
Shares
Underlying
Stock
Awards

 

Weighted
Average
Grant Date
Fair Value
Per Share

 

Unvested at June 30, 2014

 

 

3,116

 

 

25

 

 

806

 

 

3,947

 

$

6.24

 

Granted

 

 

1,679

 

 

20

 

 

513

 

 

2,212

 

 

6.77

 

Vested

 

 

(1,150

)

 

(25

)

 

 

 

(1,175

)

 

6.73

 

Cancelled/Forfeited

 

 

(320

)

 

 

 

(181

)

 

(501

)

 

6.20

 

​  

​  

​  

​  

​  

​  

​  

​  

Unvested at June 30, 2015

 

 

3,325

 

 

20

 

 

1,138

 

 

4,483

 

 

6.86

 

Granted

 

 

2,563

 

 

 

 

585

 

 

3,148

 

 

6.12

 

Vested

 

 

(1,138

)

 

(20

)

 

(413

)

 

(1,571

)

 

6.81

 

Cancelled/Forfeited

 

 

(546

)

 

 

 

(148

)

 

(694

)

 

6.59

 

​  

​  

​  

​  

​  

​  

​  

​  

Unvested at June 30, 2016

 

 

4,204

 

 

 

 

1,162

 

 

5,366

 

 

6.48

 

Granted

 

 

1,622

 

 

10

 

 

708

 

 

2,340

 

 

5.03

 

Vested

 

 

(1,534

)

 

 

 

(176

)

 

(1,710

)

 

4.99

 

Cancelled/Forfeited

 

 

(408

)

 

 

 

(361

)

 

(769

)

 

5.86

 

​  

​  

​  

​  

​  

​  

​  

​  

Unvested at June 30, 2017

 

 

3,884

 

 

10

 

 

1,333

 

 

5,227

 

$

5.75

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of weighted average assumptions used for determining fair value of ESPP shares

 

        The Company estimates the fair value of ESPP shares at the date of grant using the Black-Scholes option pricing model. The weighted average assumptions were as follows:

                                                                                                                                                                                    

 

 

Years Ended June 30,

 

 

2017

 

2016

 

2015

Risk-free interest rate

 

0.49% - 0.70%

 

0.51% - 0.70%

 

0.07% - 0.26%

Dividend yield

 

—%

 

—%

 

—%

Expected term

 

0.5 - 1.0

 

0.5 - 1.0

 

0.5 - 1.0

Expected volatility

 

24.6% - 42.0%

 

33.3% - 49.1%

 

27.1% - 41.3%