XML 91 R78.htm IDEA: XBRL DOCUMENT v3.19.2
Equity-Based Compensation (Summary of Target Performance Stock Units and Restricted Stock Units Settled in Stock) (Details) - PSUs and RSUs - $ / shares
shares in Thousands
 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2017
PSUs and RSUs, Number of shares      
Unvested units at beginning of the year 10,896 [1] 7,102 [1] 6,125
Granted prior to the Distribution 1,565 5,698 3,312
Vested (5,070) (1,112) (1,297)
Cancelled (3,166) (792) (1,038)
Net units granted in conversion, as a result of the Separation [2] 1,011 0 0
Granted after the Distribution 2,424 0 0
Unvested units at the end of the year [1] 7,660 10,896 7,102
PSUs and RSUs, Weighted average grant-date fair value      
Unvested units at beginning of the year [3] $ 29.77 [1] $ 28.62 [1] $ 32.96
Granted prior to the Distribution [3] 46.11 32.21 24.49
Vested [3] 30.07 34.59 34.91
Cancelled [3] 29.72 30.28 33.18
Net units granted in conversion, as a result of the Separation [2],[3]   0 0
Granted after the Distribution [3] 40.11 0 0
Unvested units at the end of the year [1],[3] $ 32.27 $ 29.77 $ 28.62
[1] The intrinsic value of these unvested RSUs was approximately $280 million as of June 30, 2019.
[2] As disclosed above, 21CF RSUs and PSUs scheduled to vest after 2019 and certain 21CF RSUs that were scheduled to vest during 2019 were converted into new equity awards of the Company, using a formula designed to preserve the value of the awards immediately prior to the Distribution. In addition, the 50% of the Retention RSUs that were not paid out in shares of 21CF class A common stock were converted into FOX RSUs and Disney RSUs on the same pro rata basis accorded to shareholders of 21CF common stock in the mergers contemplated by the 21CF Disney Merger Agreement.
[3] The weighted average grant date fair value prior to the Distribution represents the fair value of awards granted with respect to 21CF Class A common stock prior to the conversion of the awards to FOX equity awards. The weighted average grant date fair value of the unvested units after the conversion represents the fair value of awards using the applicable conversion ratio.