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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [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 2020, 2019 and 2018 were as follows:
Fiscal Years
202020192018
RSUs (1)$16.48 $21.12 $13.43 
PSUs (1)12.09 14.05 15.74 
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(1)The fair value of market-based RSUs and PSUs granted are estimated on the date of grant using a Monte Carlo valuation model. The significant assumptions used in determining the estimated fair value of the market-based awards granted during fiscal years 2020, 2019 and 2018 were as follows:
Fiscal Years
202020192018
Risk-free interest rate1.43 %
2.31 - 2.68%
1.66 - 2.59%
Expected volatility33.9 %
34.2 - 34.6%
33.4 - 37.1%
Expected dividend yield % % %
Schedule of assumptions used in determining estimated fair value of stock options, SARs and market-based RSUs granted The significant assumptions used in determining the estimated fair value of the market-based awards granted during fiscal years 2020, 2019 and 2018 were as follows:
Fiscal Years
202020192018
Risk-free interest rate1.43 %
2.31 - 2.68%
1.66 - 2.59%
Expected volatility33.9 %
34.2 - 34.6%
33.4 - 37.1%
Expected dividend yield % % %
Schedule of stock-based compensation expense
Stock-based compensation expense was as follows:
Fiscal Years
202020192018
(Dollars in thousands)
SARs$ $1,497 $2,252 
RSAs, RSUs, & PSUs3,275 7,506 6,017 
Total stock-based compensation expense (recorded in G&A)3,275 9,003 8,269 
Less: Income tax benefit (1)(688)(1,891)(1,736)
Total stock-based compensation expense, net of tax$2,587 $7,112 $6,533 
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(1)Federal statutory income tax rate of 21% utilized in fiscal years 2020, 2019 and 2018.
Schedule of activity for outstanding SARs and stock options
Activity for all the Company's 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)
 SARsStock
Options
Outstanding balance at June 30, 20191,321 10 $11.97 
Granted     
Forfeited/Expired(36)(9)16.69   
Exercised (1)18.61   
Outstanding balance at June 30, 20201,285  $11.79 6.08$(4,639)
Exercisable at June 30, 20201,285  $11.79 6.08$(4,639)
Unvested awards, net of estimated forfeitures  $  $ 
Schedule of activity for RSAs and RSUs
Activity for all the Company's 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, 2019850 $16.42 
Granted257 16.48  
Forfeited(166)17.29  
Vested(235)11.88  
Outstanding balance at June 30, 2020706 $17.72 $5,775 
Vested at June 30, 2020263 $15.94 $2,151 
Unvested awards, net of estimated forfeitures381 $18.68 $3,117 
Schedule of activity for PSUs
Activity for all of the Company's 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, 2019980 $14.10 
Granted74 12.09  
Forfeited(165)14.57  
Vested(179)12.93  
Outstanding balance at June 30, 2020710 $13.90 $5,808 
Vested at June 30, 2020 $ $ 
Unvested awards, net of estimated forfeitures396 $13.34 $3,239 
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(1)Includes actual or expected payout rates as set forth in the performance criteria.