Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

We utilized the Black-Scholes option valuation model with the following weighted average assumptions:



	Year Ended June 30,
	2018		2017		2016
Risk-free interest rate	1.7	%	1.2	%	1.4	%
Expected dividend yield	None		None		None
Expected life (in years)	4.6		4.6		4.6
Expected volatility factor	28	%	31	%	34	%

Stock-based compensation expense

The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2018, 2017 and 2016 was as follows:



	Year Ended June 30,
	2018		2017		2016
	(Dollars in Thousands)
Recorded as expenses:
Cost of service and other	$	1,479	$	1,477	$	1,390
Selling and marketing	3,862		3,652		4,351
Research and development	7,617		5,806		3,423
General and administrative	9,730		7,865		6,563
Total stock-based compensation	$	22,688	$	18,800	$	15,727

Stock options and RSU activity

A summary of stock option and RSU activity under all equity plans in fiscal 2018 is as follows:



	Stock Options							Restricted Stock Units
	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in 000's)		Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2017	1,353,558		$	37.98	7.30	$	23,535	615,998		$	45.62
Granted	421,253		64.30					348,902		64.32
Settled (RSUs)								(307,731	)	49.68
Exercised	(362,515	)	37.05
Cancelled / Forfeited	(42,854	)	50.51					(35,469	)	53.69
Outstanding at June 30, 2018	1,369,442		$	45.93	7.23	$	64,103	621,700		$	53.64
Exercisable at June 30, 2018	778,286		$	38.83	6.20	$	41,960
Vested and expected to vest at June 30, 2018	1,312,546		$	45.47	7.17	$	62,046	561,265		$	53.62