Stock-Based Compensation

6 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock Options

Changes in our stock options for the six months ended December 31, 2024 were as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic Value (in thousands)
Options outstanding, June 30, 2024	165,310	$	34.78

Exercised	—	—
Lapsed or forfeited	(63,363)	42.13
Options outstanding, December 31, 2024	101,947	$	30.20	0.7	$	44
Options vested, December 31, 2024	101,947	$	30.20	0.7	$	44
Options exercisable, December 31, 2024	101,947	$	30.20	0.7	$	44

As of December 31, 2024 and June 30, 2024, there was no unrecognized compensation cost related to options outstanding, and all options were fully vested as of December 31, 2024 and June 30, 2024.

There was no cash received from the exercise of options during the six months ended December 31, 2024 and 2023. The total intrinsic value of options exercised during the six months ended December 31, 2024 and 2023 was zero.

Restricted Stock Units – Performance Vesting and Time Vesting

Changes in our performance vesting and time vesting restricted stock units for the six months ended December 31, 2024 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, 2024	552,461	$	28.73	1,122,569	$	27.36
Granted	303,546	25.15		735,220	25.10
Vested	(112,598)	36.72		(512,196)	28.69
Performance metric adjustments, net	(107,780)	32.98		—	—
Forfeited	(33,631)	26.13		(57,508)	25.83
Unvested, December 31, 2024	601,998	$	24.81	1,288,085	$	25.61

During the six months ended December 31, 2024 and 2023, compensation expense related to time vesting and performance vesting restricted stock units was $12.3 million and $14.0 million, respectively. Performance vesting stock units were adjusted by 107,780 units during the six months ended December 31, 2024 related to the fiscal 2024 performance year. As of December 31, 2024, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $31.6 million and is expected to be recognized over a weighted average period of 1.9 years.