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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of weighted average fair values per stock-based compensation award granted
Using the fair value of each grant on the date of grant, the weighted average fair values per stock-based compensation award granted during fiscal years 2019, 2018 and 2017 were as follows:
 
 
2019
 
2018
 
2017
SARs (1)
 
$
—

 
$
—

 
$
3.68

RSAs & RSUs (2)
 
21.12

 
13.43

 
11.73

PSUs (2)
 
14.05

 
15.74

 
12.28


(1) The fair value of SARs granted are estimated on the date of grant using the Black-Scholes-Merton (BSM) option valuation model. The significant assumptions used in determining the estimated fair value of SARs granted during fiscal year 2017 were as follows: Risk-free interest rate of 1.99%, expected term of 6.5 years, expected volatility of 31.5% and no dividend yield.
(2) The fair value of market-based RSUs and PSUs granted are estimated on the date of grant using a Monte Carlo valuation model. The significant assumptions used in determining the estimated fair value of the market-based awards granted during fiscal years 2019, 2018 and 2017 were as follows:
 
 
2019
 
2018
 
2017
Risk-free interest rate
 
2.31 - 2.68%
 
1.66 - 2.59%
 
1.21%
Expected volatility
 
34.2 - 34.6%
 
33.4 - 37.1%
 
36.5%
Expected dividend yield
 
0%
 
0%
 
0%
Schedule of assumptions used in determining estimated fair value of stock options, SARs and market-based RSUs granted The significant assumptions used in determining the estimated fair value of the market-based awards granted during fiscal years 2019, 2018 and 2017 were as follows:
 
 
2019
 
2018
 
2017
Risk-free interest rate
 
2.31 - 2.68%
 
1.66 - 2.59%
 
1.21%
Expected volatility
 
34.2 - 34.6%
 
33.4 - 37.1%
 
36.5%
Expected dividend yield
 
0%
 
0%
 
0%
Schedule of stock-based compensation expense
Stock-based compensation expense was as follows:
 
 
2019
 
2018
 
2017
SARs
 
$
1,497

 
$
2,252

 
$
3,533

RSAs, RSUs, & PSUs
 
7,506

 
6,017

 
9,609

Total stock-based compensation expense (recorded in G&A)
 
9,003

 
8,269

 
13,142

Less: Income tax benefit (1)
 
(1,891
)
 
(1,736
)
 
—

Total stock-based compensation expense, net of tax
 
$
7,112

 
$
6,533

 
$
13,142


(1) Federal statutory income tax rate of 21% utilized in fiscal years 2019 and 2018. No income tax benefit associated with fiscal year 2017 due to the full valuation allowance.
Schedule of activity for outstanding SARs and stock options
Activity for all of our outstanding SARs and stock options is as follows:
 
 
Shares
(in thousands)
 
Weighted
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Life
 
Aggregate
Intrinsic Value
(in thousands)
 
 
SARs
 
Stock
Options
 
 
 
Outstanding balance at June 30, 2018
 
1,518

 
15

 
$
12.44

 
 
 
 
Granted
 
—

 
—

 
—

 
 

 
 

Forfeited/Expired
 
(50
)
 
(3
)
 
19.13

 
 

 
 

Exercised
 
(147
)
 
(2
)
 
14.29

 
 

 
 

Outstanding balance at June 30, 2019
 
1,321

 
10

 
$
11.97

 
6.54

 
$
6,163

Exercisable at June 30, 2019
 
1,321

 
10

 
$
11.97

 
6.54

 
$
6,163

Unvested awards, net of estimated forfeitures
 
—

 
—

 
$
—

 
—

 
$
—
Schedule of activity for RSAs and RSUs
Activity for all of our RSUs is as follows:
 
 
Shares/Units
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
 
Aggregate Intrinsic
Value
(in thousands)
 
 
RSUs
 
 
Outstanding balance at June 30, 2018
 
705

 
$
12.82

 
 
Granted
 
405

 
21.12

 
 
Forfeited
 
(60
)
 
16.72

 
 
Vested
 
(200
)
 
19.98

 
 
Outstanding balance at June 30, 2019
 
850

 
$
16.42

 
$
14,110

Vested at June 30, 2019
 
317

 
$
13.13

 
$
5,262

Unvested awards, net of estimated forfeitures
 
509

 
$
18.39

 
$
8,449
Schedule of activity for PSUs
Activity for all of our PSUs is as follows:
 
 
Shares/Units
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
 
Aggregate Intrinsic
Value
(in thousands) (1)
 
 
PSUs
 
 
Outstanding balance at June 30, 2018
 
338

 
$
13.72

 
 
Granted
 
784

 
14.05

 
 

Forfeited
 
(62
)
 
17.16

 
 

Vested
 
(80
)
 
21.39

 
 

Outstanding balance at June 30, 2019
 
980

 
$
14.10

 
$
16,268

Vested at June 30, 2019
 
—

 
$
—

 
$
—

Unvested awards, net of estimated forfeitures
 
951

 
$
14.10

 
$
15,787

_______________________________________________________________________________
(1)
Includes actual or expected payout rates as set forth in the performance criteria.