Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v2.4.1.9
Stock-Based Compensation (Tables)
 9 Months Ended
Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The following table summarizes the stock option activity for the nine months ended March 31, 2015:
 
Number of
Shares
 
WAEPS (1)
Fiscal year opening balance
10,492,291

 
$1.26
Granted
1,785,000

 
$1.73
Exercised
(494,791
)
 
$1.09
Forfeited/canceled
(2,882,085
)
 
$1.14
Expired
(25,000
)
 
$1.03
Balance at March 31, 2015
8,875,415

 
$1.40
Weighted average remaining contractual term
5.97

years
(1) Weighted average exercise price per share
Weighted-Average Assumptions
The fair value of stock options granted under the 2012 Stock Incentive Plan was estimated using the following weighted-average assumptions for the nine months ended:

 
March 31,
 
2015
 
2014
 
TBOs
 
PBOs
 
MBOs
 
PBOs
 
MBOs
Number of options
135,000
 
1,250,000
 
400,000
 
1,500,000
 
1,500,000
Weighted-average grant date fair value per share
$0.47
 
$0.88
 
$1.17
 
$0.57
 
$0.69
Expected dividend yield
—%
 
—%
 
—%
 
—%
 
—%
Forfeiture rate
22.6%
 
15.0%
 
15.0%
 
—%
 
—%
Risk free interest rate
1.5%
 
1.7%
 
2.4%
 
1.5%
-
1.7%
 
2.8%
Expected life (years)(1)
6.0
 
5.3
-
5.4
 
3.2
-
3.9
 
0.4
-
1.6
 
2.6
Expected volatility (based on historical price)
57%
 
54%
 
64%
 
62%
 
67%
(1) Expected life assumed to be the midpoint between vesting and contractual expiry.