Deferred Compensation Plan

The Company offers certain members of management and highly compensated employees the opportunity to defer up to 100% of their base salary (after 401(k), payroll tax and other deductions), performance bonus and discretionary bonus and elect to receive the deferred compensation at a fixed future date of participant’s choosing. Each participant may, at the time of his or her deferral election, choose to allocate the deferred compensation into investment alternatives set by the Human Resources and Compensation Committee. The amount payable to each participant under the plan will change in value based upon the investment selected by that participant and is classified as current or long-term on the Company's balance sheet based on the disbursement elections made by the participants. As of March 31, 2016, $1,902 is classified as long-term and is included in other liabilities on the consolidated balance sheet. In connection with the departure of Mr. Martin, discussed above, $6 of his deferred compensation plan balance is payable seven months after his employment ended and is therefore included in accrued expenses on the consolidated balance sheet as of March 31, 2016.

Beginning in August 2014, the Company acquired available-for-sale marketable securities under the deferred compensation plan. These available-for-sale marketable securities are primarily comprised of investments with a fixed income and equity investments.

Investments consisted of the following:



	As of March 31, 2016
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Mutual funds	$	1,823	$	85	$	—	$	1,908
Total short-term investments	$	1,823	$	85	$	—	$	1,908



	As of June 30, 2015
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Mutual funds	$	1,786	$	90	$	—	$	1,876
Total short-term investments	$	1,786	$	90	$	—	$	1,876

During the nine months ended March 31, 2016 and 2015, there were $37 and $2,094, respectively, in purchases of available-for-sale securities. There were no sales or other-than-temporary impairments during the nine months ended March 31, 2016. During the nine months ended March 31, 2015, there was $365 of sales and no other-than-temporary impairment.

The following table provides information by level for the Company's available-for-sale marketable securities that were measured at fair value on a recurring basis:



			Fair Value Measurements as of March 31, 2016 Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3
Mutual funds	$	1,908	$	1,297	$	611	$	—
Total short-term investments	$	1,908	$	1,297	$	611	$	—



			Fair Value Measurements as of June 30, 2015 Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3
Mutual funds	$	1,876	$	1,275	$	601	$	—
Total short-term investments	$	1,876	$	1,275	$	601	$	—

The Company's marketable securities classified within Level 1 are valued primarily using real-time quotes for transactions in active exchange markets. Marketable securities within Level 2 are valued using readily available pricing sources. There were no transfers of assets between Level 1 and Level 2 of the fair value measurement hierarchy during the nine months ended March 31, 2016. Any transfers between levels would be recognized on the date of the event or when a change in circumstances causes a transfer.