Share-Based Compensation (Tables)

Following are the assumptions used in the Black-Scholes valuation model for NQOs granted during the nine months ended March 31, 2019.



	Nine Months Ended March 31, 2019
Weighted average fair value of NQOs	$	7.78
Risk-free interest rate	3.0		%
Dividend yield	—		%
Average expected term	4.6 years
Expected stock price volatility	29.6		%

The following table summarizes restricted stock activity for the nine months ended March 31, 2019:



Outstanding and Nonvested Restricted Stock Awards:	Shares Awarded		Weighted Average Grant Date Fair Value ($)
Outstanding and nonvested at June 30, 2018	14,958		33.48
Granted	18,298		23.98
Vested/Released	(12,722	)	33.81
Cancelled/Forfeited	—		—
Outstanding and nonvested at March 31, 2019	20,534		24.81

The following table summarizes PBRSU activity for the nine months ended March 31, 2019:



Outstanding and Nonvested PBRSUs:	PBRSUs Awarded(1)		Weighted Average Grant Date Fair Value ($)
Outstanding and nonvested at June 30, 2018	35,732		31.70
Granted(1)	47,928		25.04
Vested/Released	—		—
Cancelled/Forfeited	(2,889	)	30.67
Outstanding and nonvested at March 31, 2019	80,771		27.78
Expected to vest at March 31, 2019	73,095		27.34

The following table summarizes NQO activity for the nine months ended March 31, 2019:



Outstanding NQOs:	Number of NQOs		Weighted Average Exercise Price ($)	Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value ($ in thousands)
Outstanding at June 30, 2018	161,324		26.82	5.10	741
Granted	154,263		25.04	—	—
Exercised	(28,798	)	11.32	—	466
Forfeited	(7,991	)	30.50	—	—
Expired	(879	)	31.70	—	—
Outstanding at March 31, 2019	277,919		27.32	5.98	78
Exercisable at March 31, 2019	49,227		27.60	4.54	78

The following table summarizes PNQ activity for the nine months ended March 31, 2019:



Outstanding PNQs:	Number of PNQs		Weighted Average Exercise Price ($)	Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value ($ in thousands)
Outstanding at June 30, 2018	300,708		27.08	4.00	1,207
Granted	—		—	—	—
Exercised	(5,806	)	22.70	—	17
Forfeited	(6,916	)	31.43	—	—
Expired	(14,490	)	27.50	—	—
Outstanding at March 31, 2019	273,496		27.04	3.28	—
Exercisable at March 31, 2019	251,933		26.55	3.17	—