XML 49 R34.htm IDEA: XBRL DOCUMENT v3.5.0.2
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of weighted average fair values per stock-based compensation award granted
Using the fair value of each grant on the date of grant, the weighted average fair values per stock-based compensation award granted during fiscal years 2016, 2015 and 2014 were as follows:
 
 
2016
 
2015
 
2014
Stock options & SARs
 
$
3.51

 
$
6.16

 
$
6.00

RSAs & RSUs
 
11.18

 
15.95

 
15.50

PSUs
 
12.11

 
15.15

 
15.73
Schedule of assumptions used in determining estimated fair value of stock options, SARs and market-based RSUs granted
The significant assumptions used in determining the estimated fair value of SARs granted during fiscal years 2016, 2015 and 2014 were as follows:
 
 
2016
 
2015
 
2014
Risk-free interest rate
 
1.71%
 
1.53 - 1.84%
 
1.67 - 1.96%
Expected term (in years)
 
6.00
 
6.00
 
6.00
Expected volatility
 
30.00%
 
38.00 - 44.00%
 
44.00%
Expected dividend yield
 
0%
 
0%
 
1.52 - 1.61%
Schedule of stock-based compensation expense
Stock-based compensation expense recorded in G&A was as follows:
 
 
2016
 
2015
 
2014
SARs & stock options
 
$
2,774

 
$
2,652

 
$
2,145

RSAs, RSUs, & PSUs
 
7,023

 
5,995

 
4,255

Total stock-based compensation expense
 
$
9,797

 
$
8,647

 
$
6,400
Schedule of activity for outstanding SARs and stock options
Activity for all of our outstanding SARs and stock options is as follows:
 
 
Shares
(in thousands)
 
Weighted
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Life
 
Aggregate
Intrinsic Value
(in thousands)
 
 
SARs
 
Stock
Options
 
 
 
Outstanding balance at June 30, 2015
 
1,755

 
179

 
$
19.16

 
6.9

 
$
287

Granted
 
690

 
—

 
10.84

 
 

 
 

Forfeited/Expired
 
(234
)
 
(81
)
 
21.24

 
 

 
 

Exercised
 
(2
)
 
—

 
15.50

 
 

 
 

Outstanding balance at June 30, 2016
 
2,209

 
98

 
$
16.39

 
7.0

 
$
1,043

Exercisable at June 30, 2016
 
832

 
98

 
$
18.81

 
5.7

 
$
—

Unvested awards, net of estimated forfeitures
 
1,305

 
—

 
$
14.84

 
7.8

 
$
985
Schedule of activity for RSAs and RSUs
Activity for all of our RSAs and RSUs is as follows:
 
 
Shares/Units
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
 
Aggregate Intrinsic
Value
(in thousands)
 
 
RSAs
 
RSUs
 
 
Outstanding balance at June 30, 2015
 
133

 
809

 
$
15.86

 
$
14,830

Granted
 
—

 
308

 
11.18

 
 
Forfeited
 
—

 
(47
)
 
13.58

 
 
Vested
 
(11
)
 
(162
)
 
15.88

 
 
Outstanding balance at June 30, 2016
 
122

 
908

 
$
14.91

 
$
12,825

Vested at June 30, 2016
 
—

 
153

 
$
15.45

 
$
1,920

Unvested awards, net of estimated forfeitures
 
121

 
709

 
$
14.90

 
$
10,328
Schedule of activity for PSUs
Activity for all of our PSUs is as follows:
 
 
Shares/Units
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
 
Aggregate Intrinsic
Value
(in thousands)(1)
 
 
PSUs
 
 
Outstanding balance at June 30, 2015
 
299

 
$
15.28

 
$
5,020

Granted
 
414

 
12.11

 
 

Forfeited
 
(140
)
 
15.02

 
 

Vested
 
(17
)
 
15.11

 
 

Outstanding balance at June 30, 2016
 
556

 
$
13.00

 
$
7,679

Vested at June 30, 2016
 
—

 
$
—

 
$
—

Unvested awards, net of estimated forfeitures
 
507

 
$
12.97

 
$
7,114

_______________________________________________________________________________
(1)
Includes actual or expected payout rates as set forth in the performance criteria.