Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2019

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,
	2019		2018		2017
Risk-free interest rate	2.8	%	1.7	%	1.2	%
Expected dividend yield	None		None		None
Expected life (in years)	4.6		4.6		4.6
Expected volatility factor	26.6	%	28.0	%	31.3	%

Stock-based compensation expense

The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2019, 2018 and 2017 was as follows:



	Year Ended June 30,
	2019		2018		2017
			As Adjusted		As Adjusted
	(Dollars in Thousands)
Recorded as expenses:
Cost of maintenance	$	1,282	$	559	$	564
Cost of service and other	1,420		920		913
Selling and marketing	4,849		3,862		3,652
Research and development	6,923		7,617		5,806
General and administrative	13,099		9,730		7,865
Total stock-based compensation	$	27,573	$	22,688	$	18,800

Stock options and RSU activity

A summary of stock option and RSU activity under all equity plans in fiscal 2019 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, 2018	1,369,442		$	45.93	7.23	$	64,103	621,700		$	53.64
Granted	282,798		113.88					645,146		114.72
Settled (RSUs)								(392,364	)	60.51
Exercised	(252,975	)	39.24
Cancelled / Forfeited	(95,248	)	68.25					(80,764	)	68.58
Outstanding at June 30, 2019	1,304,017		$	60.33	6.94	$	83,388	793,718		$	98.38
Exercisable at June 30, 2019	842,746		$	48.81	6.11	$	63,598
Vested and expected to vest at June 30, 2019	1,249,802		$	59.52	6.87	$	80,935	748,240		$	99.36