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Employee Benefit Plans (Tables)
12 Months Ended
Jun. 30, 2021
Share Based Compensation [Abstract]  
Shares Reserved for Issuance

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

 

 

 

June 30,

2021

 

 

June 30,

2020

 

2013 Equity Incentive Plan shares available for grant

 

 

6,753

 

 

 

13,118

 

Employee stock options and awards outstanding

 

 

10,359

 

 

 

10,396

 

2014 Employee Stock Purchase Plan

 

 

4,414

 

 

 

7,364

 

Total shares reserved for issuance

 

 

21,526

 

 

 

30,878

 

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, 2020

 

 

2,922

 

 

$

4.95

 

 

 

3.09

 

 

$

1,688

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(622

)

 

 

3.21

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(655

)

 

 

5.39

 

 

 

 

 

 

 

 

 

Options outstanding at June 30, 2021

 

 

1,645

 

 

$

5.44

 

 

 

3.62

 

 

$

9,404

 

Vested and expected to vest at June 30, 2021

 

 

1,645

 

 

$

5.44

 

 

 

3.62

 

 

$

9,404

 

Exercisable at June 30, 2021

 

 

1,241

 

 

$

5.04

 

 

 

3.16

 

 

$

7,588

 

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 Value

 

Non-vested stock awards outstanding at June 30, 2020

 

 

7,474

 

 

$

6.83

 

 

 

 

 

Granted

 

 

6,367

 

 

 

5.16

 

 

 

 

 

Released

 

 

(3,909

)

 

 

6.86

 

 

 

 

 

Cancelled

 

 

(1,218

)

 

 

7.58

 

 

 

 

 

Non-vested stock awards outstanding at June 30, 2021

 

 

8,714

 

 

$

5.51

 

 

$

97,252

 

Stock awards expected to vest at June 30, 2021

 

 

8,714

 

 

$

5.51

 

 

$

97,252

 

Schedule of Awards Performance Thresholds and Shares Expected to Vest (TSR PSUs) The MSU award represents the right to receive a target number of shares of common stock up to 150% of the original grant. The MSUs vest based on the Company’s TSR relative to the TSR of the Index over performance periods from August 15, 2020 through August 15, 2023, subject to the grantees’ continued service through the certification of performance.

Level

Relative TSR

Shares Vested

 

Below Threshold

TSR is less than the Index by more than 37.5 percentage points

0%

 

Threshold

TSR is less than the Index by 37.5 percentage points

25%

 

Target

TSR equals the Index

100%

 

Maximum

TSR is greater than the Index by 25 percentage points or more

150%

 

 

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 2021

 

 

Fiscal year 2020

 

 

Fiscal year 2019

 

Performance awards granted

 

 

475

 

 

 

 

 

 

635

 

Performance awards earned

 

 

 

 

 

56

 

 

 

342

 

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,

2021

 

 

June 30,

2020

 

 

June 30,

2019

 

Cost of product revenues

 

$

1,209

 

 

$

1,240

 

 

$

844

 

Cost of service and subscription revenues

 

 

1,662

 

 

 

1,620

 

 

 

1,639

 

Research and development

 

 

9,969

 

 

 

10,324

 

 

 

10,443

 

Sales and marketing

 

 

12,505

 

 

 

11,914

 

 

 

11,747

 

General and administrative

 

 

13,706

 

 

 

12,265

 

 

 

8,224

 

Integration costs

 

 

 

 

 

479

 

 

 

 

Total share-based compensation expense

 

$

39,051

 

 

$

37,842

 

 

$

32,897

 

Schedule of Fair Value Assumptions for Employee Stock Purchase Plan

The weighted-average estimated per share fair value of shares purchased under the 2014 ESPP in fiscal years 2021, 2020 and 2019, was $2.47, $1.90 and $2.71, respectively.

 

 

Employee Stock Purchase Plan

 

 

 

Year Ended

 

 

 

June 30,

2021

 

 

June 30,

2020

 

 

June 30,

2019

 

Expected life

 

0.5 years

 

 

0.5 years

 

 

0.5 years

 

Risk-free interest rate

 

 

0.09

%

 

 

1.71

%

 

2.22%-2.46%

 

Volatility

 

 

95

%

 

 

43

%

 

 

70

%

Dividend yield

 

 

%

 

 

%

 

 

%