Stockholders' Equity (Tables)
|
12 Months Ended |
Jun. 30, 2015 |
|---|
| Equity [Abstract] |
|
| Schedule of valuation assumptions |
The weighted-averages for key assumptions used in determining the fair value of options granted during the year ended June 30, 2015 follows:
|
|
|
|
|
|
Average volatility |
|
33.44 |
% |
|
Risk-free interest rate |
|
1.47 |
% |
|
Weighted-average expected life in years |
|
6.43 |
|
|
Dividend yield rate |
|
0.5 |
% |
|
|
| Schedule of share based compensation |
During the years ended June 30, 2015 and 2014, the Company incurred compensation expense related to stock options granted to the Company's employees (including SGI employees who transferred to the Company in conjunction with the spinoff) that were settleable in shares of SGI common stock (prior to the date of Distribution) and settleable in shares of Company's common stock (subsequent to the date of Distribution and award modification) as set forth below.
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|
in thousands |
|
|
|
Years Ended June 30, |
|
2015 |
|
2014 |
|
Stock option based Compensation Cost related to Shares Settleable in: |
|
|
|
|
|
SGI common stock |
|
$ |
— |
|
|
$ |
— |
|
|
A-Mark common stock |
|
153.9 |
|
|
60.7 |
|
|
Total stock option based compensation costs |
|
$ |
153.9 |
|
|
$ |
60.7 |
|
|
|
| Schedule of share-based compensation, stock option activity |
The following table summarizes the stock option activity for the year ended June 30, 2014.
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Options |
|
Weighted Average Exercise Price Per Share |
|
Aggregate Intrinsic Value
(in thousands)
|
|
Weighted Average Grant Date Fair Value Per Award (1)
|
Outstanding at June 30, 2013 |
|
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Granted through stock option plan |
|
— |
|
|
— |
|
|
|
|
|
Stock options issued in spinoff |
|
249,846 |
|
|
13.75 |
|
|
|
|
|
Exercised |
|
— |
|
|
— |
|
|
|
|
|
Cancellations, expirations and forfeitures |
|
(19,059 |
) |
|
59.10 |
|
|
|
|
|
Outstanding at June 30, 2014 |
|
230,787 |
|
|
10.00 |
|
|
$ |
407 |
|
|
$ |
5.98 |
|
Shares exercisable at June 30, 2014 |
|
134,902 |
|
|
11.18 |
|
|
$ |
137 |
|
|
$ |
5.77 |
|
|
|
|
|
|
_________________________________ |
(1) |
|
For awards held by A-Mark employees, the fair value of the awards assumed in Distribution was based on the awards' fair value at grant date, which were determined by SGI prior to the Distribution. Since, the Company does not recognize compensation costs for the awards assumed in the Distribution held by employees of SGI, the calculation of the weighted average fair value per share price at grant date was solely based on the awards' fair value at grant date that were awarded to employees of A-Mark. |
|
The following table summarizes the stock option activity for the year ended June 30, 2015.
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|
Options |
|
Weighted Average Exercise Price Per Share |
|
Aggregate Intrinsic Value
(in thousands)
|
|
Weighted Average Grant Date Fair Value Per Award (1)
|
Outstanding at June 30, 2014 |
|
230,787 |
|
|
$ |
10.00 |
|
|
$ |
407 |
|
|
$ |
5.98 |
|
Granted through stock option plan |
|
3,000 |
|
|
10.08 |
|
|
|
|
|
Exercised |
|
— |
|
|
— |
|
|
|
|
|
Cancellations, expirations and forfeitures |
|
(660 |
) |
|
48.02 |
|
|
|
|
|
Outstanding at June 30, 2015 |
|
233,127 |
|
|
9.89 |
|
|
$ |
283 |
|
|
$ |
5.96 |
|
Shares exercisable at June 30, 2015 |
|
158,213 |
|
|
10.60 |
|
|
$ |
128 |
|
|
$ |
5.87 |
|
|
|
|
|
|
_________________________________ |
(1) |
|
For awards held by A-Mark employees, the fair value of the awards assumed in Distribution was based on the awards' fair value at grant date, which were determined by SGI prior to the Distribution. Since the Company does not recognize compensation costs for the awards assumed in the Distribution held by employees of SGI, the calculation of the weighted average fair value per share price at grant date was solely based on the awards' fair value at grant date that were awarded to employees of A-Mark. |
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|
| Schedule of share-based compensation, status of stock option outstanding |
Following is a summary of the status of stock options outstanding at June 30, 2015:
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Options Outstanding |
|
Options Exercisable |
Exercise Price Ranges |
|
Number of Shares Outstanding |
|
Weighted Average Remaining Contractual Life (Years) |
|
Weighted Average Exercise Price |
|
Number of Shares Exercisable |
|
Weighted Average Remaining Contractual Life (Years) |
|
Weighted Average Exercise Price |
From |
|
To |
|
|
|
|
|
|
$ |
— |
|
|
$ |
10.00 |
|
|
134,239 |
|
|
7.36 |
|
$ |
8.39 |
|
|
62,325 |
|
|
7.39 |
|
$ |
8.44 |
|
10.01 |
|
|
15.00 |
|
|
98,888 |
|
|
7.29 |
|
11.94 |
|
|
95,888 |
|
|
7.21 |
|
12.00 |
|
|
|
|
|
233,127 |
|
|
7.33 |
|
9.89 |
|
|
158,213 |
|
|
7.28 |
|
10.60 |
|
|
| Schedule of employee service share based compensation cost recognized period cost attributed pre and post spinoff RSUs |
During the years ended June 30, 2015 and 2014, the Company incurred compensation expense related to RSUs granted to the Company's employees (including SGI employees who transferred to the Company in conjunction with the spinoff) that were settleable in shares of SGI common stock (prior to the date of Distribution) and settleable in shares of Company's common stock (subsequent to the date of Distribution and award modification) as set forth below.
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|
|
|
|
|
|
|
|
in thousands |
|
|
Years Ended June 30, |
|
2015 |
|
2014 |
RSUs-based Compensation Cost related to Share Settleable in: |
|
|
|
|
SGI common stock |
|
$ |
— |
|
|
$ |
98.2 |
|
A-Mark common stock |
|
99.5 |
|
|
34.9 |
|
Total RSUs based compensation costs |
|
$ |
99.5 |
|
|
$ |
133.1 |
|
|
| Schedule of restricted stock activity |
The following table summarizes the RSU activity for the year ended June 30, 2015:
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|
|
|
|
|
|
|
Shares |
|
Weighted Average Share Price at Grant Date (1)
|
Outstanding at June 30, 2014 |
106,674 |
|
|
$ |
2.72 |
|
Shares granted |
— |
|
|
— |
|
Shares released |
(10,806 |
) |
|
4.31 |
|
Shares surrendered to cover employee minimum withholding taxes |
(9,570 |
) |
|
4.31 |
|
Shares forfeited |
— |
|
|
— |
|
Outstanding at June 30, 2015 |
86,298 |
|
|
$ |
2.34 |
|
Vested but unissued at June 30, 2015 |
— |
|
|
$ |
— |
|
|
|
|
|
|
_________________________________ |
(1) |
|
For awards held by A-Mark employees, the fair value of the awards assumed in Distribution was based on the awards' fair value at grant date, which were determined by SGI prior to the Distribution. Since, the Company does not recognize compensation costs for the awards assumed in the Distribution held by employees of SGI, the calculation of the weighted average share price at grant date was solely based on the awards' fair value at grant date that were awarded to employees of A-Mark. |
|
|
|
|
|
The following table summarizes the RSU activity for the year ended June 30, 2014:
|
|
|
|
|
|
|
|
|
Shares |
|
Weighted Average Share Price at Grant Date (1)
|
Outstanding at June 30, 2013 |
— |
|
|
$ |
— |
|
Shares granted |
— |
|
|
— |
|
Shares issued in spinoff |
130,646 |
|
|
2.22 |
|
Shares released |
(11,033 |
) |
|
— |
|
Shares surrendered to cover employee minimum withholding taxes |
(4,549 |
) |
|
— |
|
Shares forfeited |
(8,390 |
) |
|
— |
|
Outstanding at June 30, 2014 |
106,674 |
|
|
$ |
2.72 |
|
Vested but unissued at June 30, 2014 |
— |
|
|
$ |
— |
|
|
|
|
|
|
_________________________________ |
(1) |
|
For awards held by A-Mark employees, the fair value of the awards assumed in Distribution was based on the awards' fair value at grant date, which were determined by SGI prior to the Distribution. Since, the Company does not recognize compensation costs for the awards assumed in the Distribution held by employees of SGI, the calculation of the weighted average share price at grant date was solely based on the awards' fair value at grant date that were awarded to employees of A-Mark. |
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