STOCK BASED COMPENSATION

12 Months Ended

Jun. 30, 2017

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 3,000,000 shares of the Company’s common stock of which 877,904 options and restricted shares are outstanding as of June 30, 2017. 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. There are no remaining options outstanding under the 1993 Plan. As of June 30, 2017, there were 1,561,891 options available for grant under the 2010 Plan.

The summary of activity for all restricted stock during the fiscal years ended June 30, 2017, 2016 and 2015is presented in the table below (in thousands):

	Year Ended June 30,
	2017			2016			2015
Unvested at beginning of the year		13			13			15
Granted		53			53			53
Vested		(53	)		(53	)		(55	)
Unvested at end of the year		13			13			13

The weighted average fair value per share of restricted stock granted during the fiscal years ended June 30, 2017, 2016 and 2015was $4.38, $8.00 and $4.28, respectively. The weighted average fair value per share of restricted stock which vested during the fiscal years ended June 30, 2017, 2016 and 2015was $5.29, $7.07 and $4.44, respectively.

The summary of activity for all stock options during the fiscal years ended June 30, 2017, 2016 and 2015 is presented in the table below (in thousands except per share amounts):

	Options Outstanding			Weighted Average Exercise Price
Options Outstanding at June 30, 2014		950		$	4.27
Granted		516		$	4.63
Exercised		(61	)	$	2.30
Forfeited or canceled		(30	)	$	4.68
Options Outstanding at June 30, 2015		1,375		$	4.49
Granted		45		$	6.62
Exercised		(112	)	$	2.77
Forfeited or canceled		(18	)	$	5.99
Options Outstanding at June 30, 2016		1,290		$	4.69
Granted		38		$	4.55
Exercised		(95	)	$	3.60
Forfeited or canceled		(368	)	$	5.32
Options Outstanding at June 30, 2017		865		$	4.53
Options Exercisable at June 30, 2017		561		$	4.39

The following table summarizes information about stock options outstanding as of June 30, 2017 (in thousands except per share amounts):

			Options Outstanding
Range of Exercise Price			Outstanding as of June 30, 2017		Weighted Average Remaining Life (in Years)		Weighted Average Exercise Price
	$	2.51 - $3.50		41		2.49		$	2.95
	$	3.51 - $5.50		692		3.27		$	4.35
	$	5.51 - $7.50		132		4.82		$	5.97
				865				$	4.53

The following table summarizes information about stock options exercisable as of June 30, 2017 (in thousands except per share amounts):

		Options Exercisable
Range of Exercise Price		Exercisable as of June 30, 2017		Weighted Average Remaining Life (in Years)		Weighted Average Exercise Price
$	2.51 - $3.50		39		2.46	$	2.96
$	3.51 - $5.50		464		2.66	$	4.32
$	5.51 - $7.50		58		4.78	$	5.87
			561			$	4.39

As of June 30, 2017, there was $0.2 million 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 1.6 years.