Stockholders' Equity (Tables)
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12 Months Ended |
Jun. 30, 2022 |
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| Equity [Abstract] |
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| Schedule of Estimated Grant Date Fair Value of Stock Options |
The weighted-averages for key assumptions used in determining the fair value of options granted during the years ended June 30, 2022 and 2021 follows:
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Years Ended |
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June 30, 2022 |
(1) |
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June 30, 2021 |
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Average volatility |
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N/A |
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41.76 |
% |
Risk-free interest rate |
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N/A |
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0.46 |
% |
Weighted-average expected life in years |
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N/A |
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6.1 |
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Dividend yield rate annual |
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N/A |
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0.0 |
% |
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(1) |
No stock options were issued during fiscal year 2022. |
N/A |
Not applicable. |
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| Summary of Stock Option Activity |
The following table summarizes the stock option activity for the year ended June 30, 2022.
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Options |
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Weighted
Average
Exercise
Price Per
Share |
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Aggregate
Intrinsic Value
(in thousands) |
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Weighted
Average
Grant Date
Fair Value
Per Award |
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Outstanding at June 30, 2021 |
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2,318,056 |
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$ |
8.01 |
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$ |
35,343 |
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$ |
3.44 |
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Exercises |
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(538,596 |
) |
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$ |
4.32 |
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Outstanding at June 30, 2022 |
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1,779,460 |
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$ |
7.84 |
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$ |
43,433 |
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$ |
3.51 |
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Exercisable at June 30, 2022 |
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1,147,972 |
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$ |
6.28 |
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$ |
29,811 |
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$ |
2.65 |
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| Summary of Status of Stock Option Outstanding |
Following is a summary of the status of stock options outstanding as of June 30, 2022.
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Exercise Price Ranges |
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Options Outstanding |
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Options Exercisable |
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From |
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To |
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Number of
Shares
Outstanding |
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Weighted
Average
Remaining
Contractual
Life (Years) |
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Weighted
Average
Exercise Price |
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Number of
Shares
Exercisable |
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Weighted
Average
Remaining
Contractual
Life (Years) |
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Weighted
Average
Exercise Price |
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$ |
— |
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$ |
5.00 |
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813,498 |
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7.11 |
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$ |
2.94 |
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533,344 |
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6.89 |
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$ |
3.23 |
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$ |
5.01 |
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$ |
7.50 |
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195,962 |
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4.62 |
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$ |
6.77 |
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195,962 |
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4.62 |
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$ |
6.77 |
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$ |
7.51 |
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$ |
12.50 |
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461,334 |
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4.17 |
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$ |
9.85 |
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408,000 |
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3.65 |
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$ |
9.78 |
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$ |
12.51 |
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$ |
30.00 |
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308,666 |
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8.69 |
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$ |
18.44 |
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10,666 |
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8.48 |
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$ |
15.77 |
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1,779,460 |
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6.35 |
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$ |
7.84 |
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1,147,972 |
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5.37 |
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$ |
6.28 |
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| Summary of Nonvested Stock Option Activity |
The following table summarizes the nonvested stock option activity for the year ended June 30, 2022.
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Options |
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Weighted
Average
Grant Date
Fair Value
Per Award |
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Nonvested Outstanding at June 30, 2021 |
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932,754 |
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$ |
4.26 |
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Vested |
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(301,266 |
) |
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$ |
2.58 |
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Nonvested Outstanding at June 30, 2022 |
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631,488 |
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$ |
5.06 |
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| Summary of Restricted Stock Unit Activity |
The following table summarizes the RSU activity for the year ended June 30, 2022:
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Awards
Outstanding |
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Weighted
Average
Fair Value
per Unit
at Grant Date |
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Nonvested Outstanding at June 30, 2021 |
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25,442 |
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$ |
18.86 |
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Shares granted |
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56,205 |
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$ |
32.51 |
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Vested delivered to the holder |
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(6,360 |
) |
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$ |
(18.86 |
) |
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Vested but subject to deferred settlement (1) |
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(19,194 |
) |
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$ |
(18.75 |
) |
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Nonvested Outstanding at June 30, 2022 |
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56,093 |
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$ |
32.58 |
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Vested but subject to deferred settlement at June 30, 2022 |
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19,194 |
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$ |
18.75 |
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Outstanding at June 30, 2022 |
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75,287 |
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$ |
29.05 |
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(1) Certain RSU holders elected to defer settlement of the RSUs to a specified date. The DSU holder is contractually obligated to defer settlement of the DSUs to a specified date following the holder’s termination of service.
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