Stock-Based Compensation

3 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

Stock Options

Changes in our stock options for the three months ended September 30, 2020 were as follows:

	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2020	646,959	$	33.60
Exercised	(7,000)	26.89
Lapsed or forfeited	(4,514)	54.65
Options outstanding, September 30, 2020	635,445	$	33.52	2.7	$	1,389
Options vested, September 30, 2020	635,445	$	33.52	2.7	$	1,389
Options exercisable, September 30, 2020	635,445	$	33.52	2.7	$	1,389

As of September 30, 2020 and June 30, 2020, there was no unrecognized compensation cost related to options outstanding, and all options were fully vested as of September 30, 2020 and 2019.

There was no cash received from the exercise of options during the three months ended September 30, 2020, and the amount of cash received from the exercise of options during September 30, 2019 was $0.1 million. The total intrinsic value of options exercised was immaterial during the three months ended September 30, 2020 and was $0.2 million during the three months ended September 30, 2019.

Restricted Stock Units – Performance Vesting and Time Vesting

Changes in our performance vesting and time vesting restricted stock units for the three months ended September 30, 2020 were as follows:

	Performance Vesting Stock Units	Performance Vesting Weighted Average Fair Value		Time Vesting Stock Units	Time Vesting Weighted Average Fair Value
Unvested, June 30, 2020	554,633	$	34.26	1,039,695	$	32.48
Granted	220,876	33.49		695,840	30.96
Vested	(69,626)	48.20		(377,543)	33.02
Performance metric adjustments, net	(100,000)	32.92		—	—
Forfeited	(31,063)	33.85		(51,310)	31.20
Unvested, September 30, 2020	574,820	$	32.53	1,306,682	$	31.57

During the three months ended September 30, 2020 and 2019, compensation expense related to time vesting and performance vesting restricted stock units was $6.7 million and $7.8 million, respectively. Certain performance metrics related to fiscal 2020 were not met, resulting in an adjustment of 100,000 performance vesting stock units during the three months ended September 30, 2020. As of September 30, 2020, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $34.2 million and is expected to be recognized over a weighted average period of 2.4 years.