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Employee Benefit Plans (Tables)
12 Months Ended
Jun. 30, 2020
Share Based Compensation [Abstract]  
Shares Reserved for Issuance

The following are shares reserved for issuance (in thousands):

 

 

 

June 30,

2020

 

 

June 30,

2019

 

2013 Equity Incentive Plan shares available for grant

 

 

13,118

 

 

 

8,462

 

Employee stock options and awards outstanding

 

 

10,396

 

 

 

10,455

 

2014 Employee Stock Purchase Plan

 

 

7,364

 

 

 

10,085

 

Total shares reserved for issuance

 

 

30,878

 

 

 

29,002

 

Summary of Stock Option Activity

The following table summarizes stock option activity under all plans (shares and intrinsic value in thousands):

 

 

 

Number of Shares

 

 

Weighted-Average Exercise Price Per Share

 

 

Weighted-Average Remaining Contractual Term (years)

 

 

Aggregate Intrinsic Value

 

Options outstanding at June 30, 2019

 

 

2,719

 

 

$

4.61

 

 

 

3.26

 

 

$

5,070

 

Granted

 

 

637

 

 

 

6.70

 

 

 

 

 

 

 

 

 

Exercised

 

 

(217

)

 

 

4.58

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(217

)

 

 

6.07

 

 

 

 

 

 

 

 

 

Options outstanding at June 30, 2020

 

 

2,922

 

 

$

4.95

 

 

 

3.09

 

 

$

1,688

 

Vested and expected to vest at June 30, 2020

 

 

2,922

 

 

$

4.95

 

 

 

3.09

 

 

$

1,688

 

Exercisable at June 30, 2020

 

 

1,682

 

 

$

3.78

 

 

 

1.18

 

 

$

1,688

 

Summary of Stock Award Activity

The following table summarizes stock award activity (shares and market value in thousands):

 

 

Number of Shares

 

 

Weighted- Average Grant Date Fair Value

 

 

Aggregate Fair Market Value

 

Non-vested stock awards outstanding at June 30, 2019

 

 

7,736

 

 

$

7.67

 

 

 

 

 

Granted

 

 

7,151

 

 

 

6.42

 

 

 

 

 

Released

 

 

(3,956

)

 

 

7.17

 

 

 

 

 

Cancelled

 

 

(3,457

)

 

 

7.58

 

 

 

 

 

Non-vested stock awards outstanding at June 30, 2020

 

 

7,474

 

 

$

6.83

 

 

$

32,436

 

Vested and expected to vest at June 30, 2020

 

 

6,793

 

 

$

6.60

 

 

$

29,480

 

Summary of PSUs with Market or Performance Based Conditions Granted

The following table summarizes PSU’s with market or performance based conditions granted and the number of awards that have satisfied the relevant market or performance criteria in each period (in thousands):

 

 

Fiscal year 2020

 

 

Fiscal year 2019

 

 

Fiscal year 2018

 

Performance awards granted

 

 

 

 

 

635

 

 

 

714

 

Performance awards earned

 

 

56

 

 

 

342

 

 

 

566

 

Schedule of Recognized Share-based Compensation Expense

Share-based compensation expense recognized in the financial statements by line item caption is as follows (in thousands):

 

 

Year Ended

 

 

 

June 30,

2020

 

 

June 30,

2019

 

 

June 30,

2018

 

Cost of product revenues

 

$

1,240

 

 

$

844

 

 

$

564

 

Cost of service revenues

 

 

1,620

 

 

 

1,639

 

 

 

1,131

 

Research and development

 

 

10,324

 

 

 

10,443

 

 

 

7,642

 

Sales and marketing

 

 

11,914

 

 

 

11,747

 

 

 

9,843

 

General and administrative

 

 

12,265

 

 

 

8,224

 

 

 

8,453

 

Integration costs

 

 

479

 

 

 

 

 

 

 

Total share-based compensation expense

 

$

37,842

 

 

$

32,897

 

 

$

27,633

 

Schedule of Fair Value Assumptions for Stock Options and Employee Stock Purchase Plan Awards

The weighted-average estimated per share fair value of shares purchased under the 2014 ESPP in fiscal years 2020, 2019 and 2018, was $1.90, $2.71 and $3.25, respectively.

 

 

Employee Stock Purchase Plan

 

 

 

Year Ended

 

 

 

June 30,

2020

 

 

June 30,

2019

 

 

June 30,

2018

 

Expected life

 

0.5 years

 

 

0.5 years

 

 

0.5 years

 

Risk-free interest rate

 

 

1.71

%

 

2.22%-2.46%

 

 

1.15%-1.64%

 

Volatility

 

 

43

%

 

 

70

%

 

 

42

%

Dividend yield

 

 

%

 

 

%

 

 

%