Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.23.3
Stockholders' Equity (Tables)
 3 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Summary of Stock Option Activity

The following table summarizes the stock option activity for the three months ended September 30, 2023 and 2022:

 

 

Options

 

 

Weighted Average Exercise Price Per Share

 

 

Aggregate
Intrinsic Value
(in thousands)

 

 

Weighted Average Grant Date Fair Value Per Award

 

Fiscal 2023

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2022

 

 

1,779,460

 

 

$

7.84

 

(1)

$

43,433

 

 

$

3.51

 

Exercises

 

 

(135,334

)

 

$

3.50

 

 

$

3,311

 

 

$

2.27

 

Outstanding at September 30, 2022

 

 

1,644,126

 

 

$

7.12

 

 

$

34,972

 

 

$

3.61

 

Exercisable at September 30, 2022

 

 

1,099,303

 

 

$

6.24

 

 

$

24,345

 

 

$

3.03

 

Fiscal 2024

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2023

 

 

1,446,260

 

 

$

7.11

 

 

$

43,882

 

 

$

3.58

 

Exercises

 

 

(174,295

)

 

$

5.82

 

 

$

4,985

 

 

$

3.54

 

Outstanding at September 30, 2023

 

 

1,271,965

 

 

$

7.29

 

 

$

28,144

 

 

$

3.59

 

Exercisable at September 30, 2023

 

 

1,087,963

 

 

$

5.29

 

 

$

26,150

 

 

$

2.71

 

 

(1) On September 9, 2022 a required adjustment to the outstanding options was triggered as result of the non-recurring special divided that lowered the exercise strike price by $1.00.

T
Summary of Information about Stock Option Outstanding and Exercisable he following table summarizes information about stock options outstanding and exercisable as of September 30, 2023:

Exercise Price Ranges

 

 

Options Outstanding

 

 

Options Exercisable

 

From

 

 

To

 

 

Number of
 Underlying
 Shares

 

 

Weighted Average Remaining Contractual Life
(Years)

 

 

Weighted Average Exercise Price

 

 

Number of
 Underlying
 Shares

 

 

Weighted Average Remaining Contractual Life
(Years)

 

 

Weighted Average Exercise Price

 

$

—

 

 

$

5.00

 

 

 

585,362

 

 

 

5.91

 

 

$

2.00

 

 

 

585,362

 

 

 

5.91

 

 

$

2.00

 

$

5.01

 

 

$

7.50

 

 

 

44,600

 

 

 

2.63

 

 

$

6.37

 

 

 

44,600

 

 

 

2.63

 

 

$

6.37

 

$

7.51

 

 

$

12.50

 

 

 

416,668

 

 

 

2.57

 

 

$

8.85

 

 

 

416,668

 

 

 

2.57

 

 

$

8.85

 

$

12.51

 

 

$

30.00

 

 

 

215,335

 

 

 

7.43

 

 

$

17.33

 

 

 

41,333

 

 

 

7.25

 

 

$

15.07

 

$

30.01

 

 

$

50.00

 

 

 

10,000

 

 

 

9.35

 

 

$

39.69

 

 

 

—

 

 

 

—

 

 

$

—

 

 

 

 

 

 

 

1,271,965

 

 

 

4.99

 

 

$

7.29

 

 

 

1,087,963

 

 

 

4.55

 

 

$

5.29

 
Summary of Nonvested Stock Option Activity

The following table summarizes the nonvested stock option activity for the three months ended September 30, 2023:

 

 

Options

 

 

 

Weighted Average Grant Date Fair Value Per Award

 

Nonvested outstanding at June 30, 2023

 

 

270,669

 

 

 

$

8.14

 

Vested

 

 

(86,667

)

 

 

$

6.86

 

Nonvested outstanding at September 30, 2023

 

 

184,002

 

 

 

$

8.74

 
Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the three months ended September 30, 2023 and 2022:

 

 

Awards
Outstanding

 

 

 

Weighted Average Fair Value per Unit at Grant Date

 

 

Fiscal 2023

 

 

 

 

 

 

 

 

Nonvested outstanding at June 30, 2022

 

 

56,093

 

 

 

$

32.58

 

 

Granted (as deemed reinvestment of cash dividend equivalents)

 

 

194

 

 

 

$

—

 

 (1)

Vested & deferred (2)

 

 

(129

)

 

 

$

—

 

 (1)

Nonvested outstanding at September 30, 2022

 

 

56,158

 

 

 

$

32.54

 

 

Vested but subject to deferred settlement at September 30, 2022 (2)

 

 

19,323

 

 

 

$

18.62

 

 

Outstanding at September 30, 2022

 

 

75,481

 

 

 

$

28.98

 

 

Fiscal 2024

 

 

 

 

 

 

 

 

Nonvested outstanding at June 30, 2023 (3)

 

 

63,587

 

 

 

$

32.37

 

 

Granted (as deemed reinvestment of cash dividend equivalents)

 

 

285

 

 

 

$

—

 

 (1)

Vested & delivered

 

 

(6,439

)

 

 

$

31.06

 

 

Vested & deferred (2)

 

 

(205

)

 

 

$

—

 

 (1)

Nonvested outstanding at September 30, 2023 (3)

 

 

57,228

 

 

 

$

32.48

 

 

Vested but subject to deferred settlement at September 30, 2023 (2)

 

 

29,575

 

 

 

$

24.33

 

 

Outstanding at September 30, 2023 (3)

 

 

86,803

 

 

 

$

29.70

 

 

 

(1) These shares were granted upon deemed reinvestment of dividend equivalents, in accordance with mandatory terms of the award agreement. The measured fair value of the original award fully valued the participant’s right to deemed reinvestment of dividend equivalents, and therefore this grant resulted in no incremental compensation expense, which is reflected in the table as zero fair value for the shares.

(2) 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.

(3) Includes 9,397 RSUs that vest based on continuous employment and achievement of non-market performance goals through June 30, 2024, 2025, and 2026.