Stockholders' Equity (Tables)
|
12 Months Ended |
Jun. 30, 2024 |
|---|
| Equity [Abstract] |
|
| 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 were as follows:
|
|
|
|
|
|
|
|
|
|
Year Ended June 30, |
|
|
2024 |
|
2023 |
|
|
2022 |
Average volatility |
|
n/a (1) |
|
47.96% |
|
|
n/a (1) |
Risk-free interest rate |
|
n/a (1) |
|
3.76% |
|
|
n/a (1) |
Weighted-average expected life in years |
|
n/a (1) |
|
6.0 |
|
|
n/a (1) |
Dividend yield rate annual |
|
n/a (1) |
|
2.10% |
|
|
n/a (1) |
(1) Not applicable; no employee stock options were issued.
|
| Summary of Stock Option Activity |
The following table summarizes stock option activity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options |
|
|
Weighted-Average Exercise Price Per Share |
|
|
Aggregate
Intrinsic Value
(in thousands) |
|
|
Weighted-Average Grant Date Fair Value Per Award |
|
Fiscal 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at June 30, 2021 |
|
|
2,318,056 |
|
|
$ |
8.01 |
|
|
$ |
35,343 |
|
|
$ |
3.44 |
|
Exercises |
|
|
(538,596 |
) |
|
$ |
4.32 |
|
|
$ |
15,874 |
|
|
$ |
3.22 |
|
Outstanding at June 30, 2022 |
|
|
1,779,460 |
|
|
$ |
7.84 |
|
|
$ |
43,433 |
|
|
$ |
3.51 |
|
Exercisable at June 30, 2022 |
|
|
1,147,972 |
|
|
$ |
6.28 |
|
|
$ |
29,811 |
|
|
$ |
2.65 |
|
Fiscal 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at June 30, 2022 |
|
|
1,779,460 |
|
|
$ |
7.84 |
|
|
$ |
43,433 |
|
|
$ |
3.51 |
|
Granted |
|
|
10,000 |
|
|
$ |
39.69 |
|
|
$ |
— |
|
(1) |
$ |
16.56 |
|
Exercised |
|
|
(343,200 |
) |
|
$ |
6.68 |
|
|
$ |
8,562 |
|
|
$ |
3.57 |
|
Outstanding at June 30, 2023 |
|
|
1,446,260 |
|
|
$ |
7.11 |
|
|
$ |
43,882 |
|
|
$ |
3.58 |
|
Exercisable at June 30, 2023 |
|
|
1,175,591 |
|
|
$ |
5.02 |
|
|
$ |
38,505 |
|
|
$ |
2.53 |
|
Fiscal 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at June 30, 2023 |
|
|
1,446,260 |
|
|
$ |
7.11 |
|
|
$ |
43,882 |
|
|
$ |
3.58 |
|
Exercises |
|
|
(287,730 |
) |
|
$ |
7.17 |
|
|
$ |
7,720 |
|
|
$ |
3.82 |
|
Outstanding at June 30, 2024 |
|
|
1,158,530 |
|
|
$ |
7.10 |
|
|
$ |
29,354 |
|
|
$ |
3.53 |
|
Exercisable at June 30, 2024 |
|
|
1,116,866 |
|
|
$ |
6.60 |
|
|
$ |
28,822 |
|
|
$ |
3.32 |
|
(1) The Company issued the options with an exercise price per share not less than the closing market price of common stock on the grant date.
|
| Summary of Information about Stock Option |
The following table summarizes information about stock options as of June 30, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
584,862 |
|
|
|
5.16 |
|
|
$ |
2.00 |
|
|
|
584,862 |
|
|
|
5.16 |
|
|
$ |
2.00 |
|
$ |
5.01 |
|
|
$ |
7.50 |
|
|
|
15,000 |
|
|
|
2.28 |
|
|
$ |
6.33 |
|
|
|
15,000 |
|
|
|
2.28 |
|
|
$ |
6.33 |
|
$ |
7.51 |
|
|
$ |
12.50 |
|
|
|
350,000 |
|
|
|
1.64 |
|
|
$ |
8.89 |
|
|
|
350,000 |
|
|
|
1.64 |
|
|
$ |
8.89 |
|
$ |
12.51 |
|
|
$ |
30.00 |
|
|
|
198,668 |
|
|
|
6.68 |
|
|
$ |
17.26 |
|
|
|
162,004 |
|
|
|
6.67 |
|
|
$ |
17.37 |
|
$ |
30.01 |
|
|
$ |
50.00 |
|
|
|
10,000 |
|
|
|
8.60 |
|
|
$ |
39.69 |
|
|
|
5,000 |
|
|
|
8.60 |
|
|
$ |
39.69 |
|
|
|
|
|
|
|
|
1,158,530 |
|
|
|
4.35 |
|
|
$ |
7.10 |
|
|
|
1,116,866 |
|
|
|
4.25 |
|
|
$ |
6.60 |
|
|
| Summary of Nonvested Stock Option Activity |
The following table summarizes nonvested stock option activity:
|
|
|
|
|
|
|
|
|
|
|
|
Options |
|
|
|
Weighted-Average Grant Date Fair Value Per Award |
|
Nonvested outstanding at June 30, 2023 |
|
|
270,669 |
|
|
|
$ |
8.14 |
|
Vested |
|
|
(229,005 |
) |
|
|
$ |
7.94 |
|
Nonvested outstanding at June 30, 2024 |
|
|
41,664 |
|
|
|
$ |
9.23 |
|
|
| Summary of Restricted Stock Unit Activity |
The following table summarizes RSU activity:
|
|
|
|
|
|
|
|
|
|
|
|
|
Awards
Outstanding |
|
|
|
Weighted-Average Fair Value per Unit at Grant Date |
|
|
Fiscal 2022 |
|
|
|
|
|
|
|
|
Nonvested outstanding at June 30, 2021 |
|
|
25,442 |
|
|
|
$ |
18.86 |
|
|
Granted |
|
|
56,205 |
|
|
|
$ |
32.51 |
|
|
Vested & delivered |
|
|
(6,360 |
) |
|
|
$ |
18.86 |
|
|
Vested & deferred (1) |
|
|
(19,194 |
) |
|
|
$ |
18.75 |
|
|
Nonvested outstanding at June 30, 2022 |
|
|
56,093 |
|
|
|
$ |
32.58 |
|
|
Vested but subject to deferred settlement at June 30, 2022 (1) |
|
|
19,194 |
|
|
|
$ |
18.75 |
|
|
Outstanding at June 30, 2022 |
|
|
75,287 |
|
|
|
$ |
29.05 |
|
|
Fiscal 2023 |
|
|
|
|
|
|
|
|
Nonvested outstanding at June 30, 2022 |
|
|
56,093 |
|
|
|
$ |
32.58 |
|
|
Granted (2) |
|
|
35,269 |
|
|
|
$ |
32.90 |
|
|
Vested & delivered |
|
|
(17,599 |
) |
|
|
$ |
32.34 |
|
|
Vested & deferred (1) |
|
|
(10,176 |
) |
|
|
$ |
35.36 |
|
|
Nonvested outstanding at June 30, 2023 |
|
|
63,587 |
|
|
|
$ |
32.37 |
|
|
Vested but subject to deferred settlement at June 30, 2023 (1) |
|
|
29,370 |
|
|
|
$ |
24.50 |
|
|
Outstanding at June 30, 2023 |
|
|
92,957 |
|
|
|
$ |
29.89 |
|
|
Fiscal 2024 |
|
|
|
|
|
|
|
|
Nonvested outstanding at June 30, 2023 (2) |
|
|
63,587 |
|
|
|
$ |
32.37 |
|
|
Granted |
|
|
38,135 |
|
|
|
$ |
28.18 |
|
|
Vested & delivered |
|
|
(24,696 |
) |
|
|
$ |
31.69 |
|
|
Vested & deferred (1) |
|
|
(12,577 |
) |
|
|
$ |
29.69 |
|
|
Forfeited |
|
|
(3,132 |
) |
|
|
$ |
36.19 |
|
|
Nonvested outstanding at June 30, 2024 (2) |
|
|
61,317 |
|
|
|
$ |
30.61 |
|
|
Vested but subject to deferred settlement at June 30, 2024 (1) |
|
|
41,947 |
|
|
|
$ |
26.06 |
|
|
Outstanding at June 30, 2024 (2) |
|
|
103,264 |
|
|
|
$ |
28.76 |
|
|
(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.
(2) Includes 6,265 RSUs that vest based on continuous employment and achievement of non-market performance goals through June 30, 2025, and 2026.
|