Common Stock. Since the inception of our share repurchase programs and through March 31, 2020, we have repurchased a total of 41.8 million shares for an aggregate of $1.6 billion. We have temporarily suspended our share repurchase program due to recent acquisitions. Accordingly, we did not repurchase any shares during the nine months ended March 31, 2020. During the nine months ended March 31, 2019, we repurchased 200,000 shares at an aggregate purchase price of $22.8 million under our share repurchase program. Shares that are repurchased are classified as treasury stock pending future use and reduce the number of shares outstanding used in calculating earnings per share. There is no expiration date for this program, and the program may be accelerated, suspended, reinstated, delayed or discontinued at any time at the discretion of our board of directors. At March 31, 2020, 12.9 million additional shares can be repurchased under the approved share repurchase program.

Preferred Stock. In April 1997, the board of directors designated 2.0 million shares of our $0.01 par value preferred stock as Series A Junior Participating Preferred Stock. No shares were issued or outstanding at March 31, 2020 and June 30, 2019.

Stock Options and Restricted Stock Units. We have granted stock options and restricted stock units to personnel, including officers and directors, in accordance with the amended and restated ResMed Inc. 2009 Incentive Award Plan (as amended and restated, the “2009 Plan”). The options have expiration dates of seven years from the date of grant and the options and restricted stock units vest over one year to four years.

At March 31, 2020, the maximum number of shares of our common stock authorized for issuance under the 2009 Plan was 51.1 million shares. The number of securities remaining available for future issuance under the 2009 Plan at March 31, 2020 was 15.8 million.

The following table summarizes option activity during the nine months ended March 31, 2020:



	Options		Weighted ‎Average ‎Exercise ‎Price		Weighted ‎Average ‎Remaining ‎Contractual ‎Term in Years
Outstanding at beginning of period		1,260,114	$	72.91	4.4
Granted		162,180		146.34
Exercised		(260,666)		53.41
Forfeited		(4,342)		110.19
Outstanding at end of period		1,157,286	$	87.45	4.6
Exercise price of granted options	$	146.34
Options exercisable at end of period		724,040	$	70.70

The following table summarizes the activity of restricted stock units during the nine months ended March 31, 2020:



	Restricted ‎Stock ‎Units		Weighted ‎Average ‎Grant-Date ‎Fair Value		Weighted ‎Average ‎Remaining ‎Contractual ‎Term in Years
Outstanding at beginning of period		1,446,170	$	77.21	1.6
Granted		361,986		140.98
Vested*		(915,450)		61.00
Performance factor adjustment		289,678		-
Expired / cancelled		(31,545)		89.37
Forfeited		(5,023)		89.37
Outstanding at end of period		1,145,816	$	103.46	1.8

*Includes 305,719 shares netted for tax

Employee Stock Purchase Plan (the “ESPP”). Under the ESPP, we offer participants the right to purchase shares of our common stock at a discount during successive offering periods. During the nine months ended March 31, 2020 and March 31, 2019, we issued 137,000 and 129,000 shares to our employees associated with the ESPP, respectively. At March 31, 2020, the number of shares remaining available for future issuance under the ESPP is 2.1 million shares.