5. 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 September 30, 2017, $189 of the amount payable is included in accrued liabilities and $479 is included in other liabilities on the consolidated balance sheet.

The available-for-sale marketable securities are comprised of individual mutual funds which invest in fixed income and equity securities and consist of the following:



	As of September 30, 2017
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Mutual funds	$	564	$	104	$	—	$	668
Total short-term investments	$	564	$	104	$	—	$	668



	As of June 30, 2017
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Mutual funds	$	604	$	100	$	—	$	704
Total short-term investments	$	604	$	100	$	—	$	704

During the three months ended September 30, 2017 and 2016, there were no purchases of available-for-sale securities or other-than-temporary impairments. There was $47 and $0 of available-for-sale securities that were sold during the three months ended September 30, 2017 and 2016, respectively. During the three months ended September 30, 2017 and 2016, there was a realized gain of $8 and $0, respectively, that was recorded within interest and other, net on the consolidated statement of operations.

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 September 30, 2017 Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3
Mutual funds	$	668	$	264	$	404	$	—
Total short-term investments	$	668	$	264	$	404	$	—



			Fair Value Measurements as of June 30, 2017 Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3
Mutual funds	$	704	$	281	$	423	$	—
Total short-term investments	$	704	$	281	$	423	$	—

The Company’s marketable securities classified within Level 1 are valued 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 three months ended September 30, 2017. Any transfers between levels would be recognized on the date of the event or when a change in circumstances causes a transfer.