Share-Based Compensation (Tables)
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12 Months Ended |
Jun. 30, 2014
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Jun. 30, 2013
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
Following are the assumptions used in the Black-Scholes valuation model for PNQs granted during the fiscal year ended June 30, 2014: | | | | | | | | Year Ended June 30, | | | 2014 | Weighted average fair value of PNQs | | $ | 10.49 |
| Risk-free interest rate | | 1.8 | % | Dividend yield | | — | % | Average expected term | | 6 years |
| Expected stock price volatility | | 50.5 | % |
Following are the weighted average assumptions used in the Black-Scholes valuation model for NQOs granted during the fiscal years ended June 30, 2014, 2013 and 2012: | | | | | | | | | | | | | | | | Year Ended June 30, | | | 2014 | | 2013 | | 2012 | Weighted average fair value of NQOs | | $ | 9.17 |
| | $ | 5.69 |
| | $ | 4.42 |
| Risk-free interest rate | | 1.7 | % | | 0.9 | % | | 1.1 | % | Dividend yield | | — | % | | — | % | | — | % | Average expected term | | 6 years |
| | 6 years |
| | 6 years |
| Expected stock price volatility | | 50.4 | % | | 49.5 | % | | 52.5 | % |
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Schedule of Share-based Compensation, Stock Options, Activity |
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The following table summarizes PNQ activity in fiscal 2014: | | | | | | | | | | | | | | Outstanding PNQs: | | Number of PNQs | | Weighted Average Exercise Price ($) | | Weighted Average Grant Date Fair Value ($) | | Weighted Average Remaining Life (Years) | | Aggregate Intrinsic Value ($ in thousands) | Outstanding at June 30, 2013 | | — |
| | — | | — | | — | | — |
| Granted | | 112,442 |
| | 21.27 | | 10.49 | | 6.5 | | — |
| Cancelled/Forfeited | | — |
| | — | | — | | — | | — |
| Outstanding at June 30, 2014 | | 112,442 |
| | 21.27 | | 10.49 | | 6.5 | | 38 |
| Vested and exercisable, June 30, 2014 | | — |
| | — | | — | | — | | — |
| Vested and expected to vest, June 30, 2014 | | 99,727 |
| | 21.28 | | 10.49 | | 6.5 | | 33 |
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Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
The following table summarizes restricted stock activity: | | | | | | | | | | | | | Outstanding and Nonvested Restricted Stock Awards: | | Shares Awarded | | Weighted Average Grant Date Fair Value ($) | | Weighted Average Remaining Life (Years) | | Aggregate Intrinsic Value ($ in thousands) | Outstanding at June 30, 2011 | | 80,687 |
| | 17.31 |
| | 2.6 | | 818 |
| Granted | | 142,070 |
| | 7.70 |
| | 2.1 | | 1,094 |
| Exercised/Released | | (27,227 | ) | | 15.80 |
| | — | | 202 |
| Cancelled/Forfeited | | (19,583 | ) | | 13.92 |
| | — | | — |
| Outstanding June 30, 2012 | | 175,947 |
| | 10.16 |
| | 1.9 | | 1,401 |
| Granted | | 51,177 |
| | 11.67 |
| | — | | 597 |
| Exercised/Released | | (64,668 | ) | | 11.27 |
| | — | | 832 |
| Cancelled/Forfeited | | (23,096 | ) | | 12.21 |
| | — | | — |
| Outstanding at June 30, 2013 | | 139,360 |
| | 9.87 |
| | 1.9 | | 1,959 |
| Granted | | 9,200 |
| | 20.48 |
| | — | | 188 |
| Exercised/Released | | (38,212 | ) | | 11.59 |
| | — | | 820 |
| Cancelled/Forfeited | | (14,136 | ) | | 9.38 |
| | — | | — |
| Outstanding at June 30, 2014 | | 96,212 |
| | 10.27 |
| | 1.5 | | 2,079 |
| Expected to vest, June 30, 2014 | | 90,359 |
| | 12.61 |
| | 1.5 | | 1,953 |
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Nonvested
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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Schedule of Share-based Compensation, Stock Options, Activity |
| | | | | | | | | | | Nonvested NQOs: | | Number of NQOs | | Weighted Average Exercise Price ($) | | Weighted Average Grant Date Fair Value ($) | | Weighted Average Remaining Life (Years) | Outstanding at June 30, 2011 | | 322,869 |
| | 15.02 | | 6.50 | | 1.7 | Granted | | 356,834 |
| | 8.90 | | 4.42 | | 6.6 | Vested | | (243,518 | ) | | 13.00 | | 5.85 | | — | Forfeited | | (92,946 | ) | | 12.54 | | 5.80 | | — | Outstanding at June 30, 2012 | | 343,239 |
| | 10.76 | | 4.20 | | 6.3 | Granted | | 192,892 |
| | 12.12 | | 5.69 | | 6.5 | Vested | | (188,909 | ) | | 11.56 | | 5.33 | | — | Forfeited | | (31,561 | ) | | 13.82 | | 5.92 | | — | Outstanding at June 30, 2013 | | 315,661 |
| | 10.80 | | 5.12 | | 6.1 | Granted | | 1,927 |
| | 18.68 | | 9.17 | | 6.4 | Vested | | (133,957 | ) | | 11.02 | | 5.21 | | — | Forfeited | | (15,833 | ) | | 11.48 | | 5.49 | | — | Outstanding at June 30, 2014 | | 167,798 |
| | 10.65 | | 5.06 | | 5.3 |
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Vested
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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Schedule of Share-based Compensation, Stock Options, Activity |
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The following table summarizes NQO activity for the three most recent fiscal years: | | | | | | | | | | | | | | Outstanding NQOs: | | Number of NQOs | | Weighted Average Exercise Price ($) | | Weighted Average Grant Date Fair Value ($) | | Weighted Average Remaining Life (Years) | | Aggregate Intrinsic Value ($ in thousands) | Outstanding at June 30, 2011 | | 497,810 |
| | 17.19 | | 6.44 | | 5.7 | | 61 |
| Granted | | 356,834 |
| | 8.90 | | 4.42 | | — | | — |
| Cancelled/Forfeited | | (187,409 | ) | | 16.89 | | 5.06 | | — | | — |
| Outstanding at June 30, 2012 | | 667,235 |
| | 12.84 | | 4.78 | | 4.8 | | 143 |
| Granted | | 192,892 |
| | 12.12 | | 5.69 | | 6.5 | | 374 |
| Exercised | | (117,482 | ) | | 10.24 | | 5.23 | | — | | 336 |
| Cancelled/Forfeited | | (185,218 | ) | | 13.83 | | 5.92 | | — | | — |
| Outstanding at June 30, 2013 | | 557,427 |
| | 12.81 | | 5.44 | | 5.1 | | 1,620 |
| Granted | | 1,927 |
| | 18.68 | | 9.17 | | 6.4 | | — |
| Exercised | | (112,964 | ) | | 13.10 | | 5.81 | | — | | 895 |
| Cancelled/Forfeited | | (33,936 | ) | | 16.63 | | 6.13 | | — | | — |
| Outstanding at June 30, 2014 | | 412,454 |
| | 12.44 | | 5.30 | | 4.4 | | 3,782 |
| Vested and exercisable, June 30, 2014 | | 244,656 |
| | 13.67 | | 5.46 | | 3.7 | | 1,967 |
| Vested and expected to vest, June 30, 2014 | | 402,440 |
| | 12.48 | | 5.30 | | 4.3 | | 3,700 |
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