Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.5.0.2
Stock Based Compensation (Tables)
12 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
As of June 30, 2016, a total of 332,028 MBOs and PBOs had not vested
Shares Authorized under Stock Option Plans, by Exercise Price Range
The following table summarizes options outstanding and exercisable as of June 30, 2016:
 
 
 
 
Options outstanding
 
Options exercisable
Range of
exercise
prices
 
Number
of
shares
 
Weighted average remaining contractual life
 
WAEPS (1)
 
Number
of
shares
 
Weighted average remaining contractual life
 
WAEPS (1)
$6.32
-
$8.32
 
253,122

 
7.3 years
 
$8.12
 
71,092

 
7.2 years
 
$7.93
$8.33
-
$9.04
 
119,167

 
5.6 years
 
$8.71
 
115,000

 
5.5 years
 
$8.73
$9.05
-
$12.00
 
60,936

 
2.4 years
 
$9.53
 
60,936

 
2.4 years
 
$9.53
$12.01
-
$14.56
 
156,248

 
8.3 years
 
$14.40
 

 
0.0 years
 
$—
$14.57
-
$17.92
 
137,500

 
3.9 years
 
$16.76
 
137,500

 
3.9 years
 
$16.76
 
 
 
 
726,973

 
6.2 years
 
$11.32
 
384,528

 
4.7 years
 
$11.58
Aggregate intrinsic value
$

 

 
 
 
$

 
 
 
 

(1) Weighted average exercise price per share.
Fair Value of Shares Issued Under the Stock Plan and Weighted-Average Assumptions
The fair value of shares issued under the 2012 Stock Incentive Plan were estimated using the following weighted-average assumptions for the fiscal years ended:
 
June 30, 2015
 
TBOs
 
PBOs (1)
 
MBOs (2)
Number of options
16,875
 
 
156,250
 
 
49,998
 
Weighted-average grant date fair value per share
$3.73
 
 
$7.13
 
 
$9.39
 
Expected dividend
$0.00
 
 
$0.00
 
 
$0.00
 
Forfeiture rate
23
%
 
15
%
 
15
%
Risk-free interest rate
 
 
1.5
%
 
1.68
%
-
1.70
%
 
 
 
2.4
%
Expected life (years)
 
 
6.0

 
5.3

-
5.4

 
3.2
-
3.9

Expected volatility (based on historical price)
 
 
57.4
%
 
53.6
%
-
54.1
%
 
 
 
64.4
%

(1) The terms related to these PBOs were estimated using an average probabilistic weighted method.
(2) The Company assumed MBOs will be voluntarily exercised at the midpoint of vesting and the contractual term.