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STOCK-BASED COMPENSATION
 12 Months Ended
Jun. 30, 2012
STOCK-BASED COMPENSATION [Abstract]  
STOCK-BASED COMPENSATION
NOTE 7 - STOCK BASED COMPENSATION

The Company sponsors the Sharps Compliance Corp. 2010 Stock Plan (the "2010 Plan") covering employees, consultants and non-employee directors. The 2010 Stock Plan replaced the Sharps Compliance Corp. 1993 Stock Plan (the "1993 Plan"). The 2010 Plan provides for the granting of stock-based compensation (stock options or restricted stock) of up to 1,000,000 shares of the Company's common stock of which 494,748 shares are outstanding as of June 30, 2012. Options granted generally vest over a period of three to four years and expire seven years after the date of grant.  Restricted stock generally vests over one year.

The 1993 Plan, as amended, provided for the granting of stock-based compensation (stock options or restricted stock) of up to 4,000,000 shares of the Company's common stock of which 600,683 shares are outstanding as of June 30, 2012. Options granted generally vest over a period of three years and expire seven years after the date of grant.  Restricted stock generally vested between one to three years.

As of June 30, 2012, 2011 and 2010, options available for grant under the Plans are as follow:


June 30,
2010 Stock Plan
1993 Stock Plan
Total
2012
372,384
144,173
516,557
2011
754,000
122,673
876,673
2010
-
105,173
105,173


The summary of activity for all stock options during the fiscal years ended June 30, 2012, 2011 and 2010 is presented in the table below (in thousands):

 
Options Outstanding
 
 
Weighted Average Exercise Price
 
 
 
 
Balance, June 30, 2009
 
 
1,398
 
 
$
1.17
 
 
 
 
    Granted
 
 
416
 
 
$
7.12
 
 
 
 
    Exercised
 
 
(973
)
 
$
1.10
 
 
 
 
    Forfeited or canceled
 
 
(49
)
 
$
5.57
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, June 30, 2010
 
 
792
 
 
$
4.21
 
 
 
(1
)
    Granted
 
 
243
 
 
$
4.55
 
 
 
 
 
    Exercised
 
 
(63
)
 
$
0.78
 
 
 
 
 
    Forfeited or canceled
 
 
(84
)
 
$
5.46
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, June 30, 2011
 
 
888
 
 
$
4.43
 
 
 
(2
)
    Granted
 
 
320
 
 
$
3.97
 
 
 
 
 
    Exercised
 
 
(89
)
 
$
0.73
 
 
 
 
 
    Forfeited or canceled
 
 
(41
)
 
$
4.23
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2012
 
 
1,078
 
 
$
4.60
 
 
 
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at June 30, 2012
 
 
556
 
 
$
4.62
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Excludes 30 thousand shares of Restricted Stock
 
 
 
 
 
 
 
 
 
(2) Excludes 0 thousand shares of Restricted Stock
 
 
 
 
 
 
 
 
 
(3) Excludes 17 thousand shares of Restricted Stock
 
 
 
 
 
 
 
 
 


The summary of activity for all restricted stock during the fiscal years ended June 30, 2012, 2011 and 2010 is presented in the table below (in thousands):
 
 
Year Ended June 30,
 
 
2012
 
 
2011
 
 
2010
 
 
 
 
 
 
 
 
 
 
Unvested at beginning of the year
 
 
-
 
 
 
30
 
 
 
72
 
Granted
 
 
81
 
 
 
70
 
 
 
52
 
Vested
 
 
(64
)
 
 
(100
)
 
 
(84
)
Forfeited
 
 
-
 
 
 
-
 
 
 
(10
)
 
 
 
 
 
 
 
 
 
 
 
 
Unvested at end of the year
 
 
17
 
 
 
-
 
 
 
30
 

 
The weighted average fair value per share of restricted stock granted during the fiscal years ended June 30, 2012, 2011, and 2010 was $4.46, $4.65 and $9.81, respectively. The weighted average fair value per share of restricted stock which vested during the fiscal years ended June 30, 2012, 2011 and 2010 was $4.47, $4.41 and $6.78, respectively.

The following table summarizes information about stock options outstanding as of June 30, 2012 (in thousands except per share amount):

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options Outstanding
 
 
 
 
 
 
 
 
 
 
 
 
Range of Exercise Price
 
 
Outstanding as of June 30, 2012
 
 
Weighted Average Remaining Life (in Years)
 
 
Weighted Average Exercise Price
 
 
 
 
 
 
 
 
 
 
 
 
$
0.00 - $1.99
 
 
 
50
 
 
 
0.90
 
 
$
0.84
 
$
2.00 - $3.99
 
 
 
495
 
 
 
5.12
 
 
$
3.37
 
$
4.00 - $5.99
 
 
 
322
 
 
 
5.34
 
 
$
4.48
 
$
6.00 - $7.99
 
 
 
1
 
 
 
4.67
 
 
$
6.60
 
$
8.00- $10.00
 
 
 
210
 
 
 
4.91
 
 
$
8.58
 
 
 
 
 
 
1,078
 
 
 
 
 
 
$
4.60
 


The following table summarizes information about stock options exercisable as of June 30, 2012 (in thousands except per share amount):

Options Exercisable
Range of Exercise Price
Exercisable as of June 30, 2012
Weighted Average Remaining Life (in Years)
Weighted Average Exercise Price
$
0.00 - $1.99
50
0.90
$
0.84
$
2.00 - $3.99
186
3.02
$
2.36
$
4.00 - $5.99
159
5.21
$
4.48
$
6.00 - $7.99
1
4.67
$
6.60
$
8.00- $10.00
160
5.16
$
8.57
556
$
4.62
 
As of June 30, 2012, there was $657 thousand of stock option and restricted stock compensation expense related to non-vested awards. This expense is expected to be recognized over a weighted average period of 2.38 years