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STOCK-BASED COMPENSATION
12 Months Ended
Jun. 30, 2014
STOCK-BASED COMPENSATION [Abstract]  
STOCK-BASED COMPENSATION
NOTE 7 - STOCK BASED COMPENSATION

The Company sponsors the Sharps Compliance Corp. 2010 Stock Plan (the “2010 Plan”) covering employees, consultants and non-employee directors. The 2010 Stock Plan is intended to replace the Sharps Compliance Corp. 1993 Stock Plan (the “1993 Plan”). The 2010 Plan provides for the granting of stock-based compensation (stock options or restricted stock) of up to 1,000,000 shares of the Company’s common stock of which 598,999 shares are outstanding as of June 30, 2014. Options granted generally vest over a period of three to four years and expire seven years after the date of grant.  Restricted stock generally vests over one year.
 
The 1993 Plan, as amended, provides for the granting of stock-based compensation (stock options or restricted stock) of up to 4,000,000 shares of the Company’s common stock of which 364,917 shares are outstanding as of June 30, 2014. Options granted generally vest over a period of three years and expire seven years after the date of grant.  Restricted stock generally vested between one to three years.

As of June 30, 2014, 2013 and 2012, options available for grant under the Plans are as follows:
 
June 30,
 
2010 Stock Plan
  
1993 Stock Plan
  
Total
 
 
 
  
  
 
2014
  
139,267
   
269,494
   
408,761
 
2013
  
296,308
   
259,744
   
556,052
 
2012
  
372,384
   
144,173
   
516,557
 
 
The summary of activity for all stock options during the fiscal years ended June 30, 2014, 2013 and 2012 is presented in the table below (in thousands except per share amount):

 
 
Options Outstanding
  
Weighted Average Exercise Price
 
Balance, June 30, 2011
  
888
  
$
4.43
 
Granted
  
320
  
$
3.97
 
Exercised
  
(89
)
 
$
0.73
 
Forfeited or canceled
  
(41
)
 
$
4.23
 
 
        
Balance at June 30, 2012
  
1,078
  
$
4.60
 
Granted
  
178
  
$
2.90
 
Exercised
  
(100
)
 
$
1.62
 
Forfeited or canceled
  
(280
)
 
$
5.82
 
 
        
Balance at June 30, 2013
  
876
  
$
4.21
 
Granted
  
244
  
$
3.95
 
Exercised
  
(13
)
 
$
3.53
 
Forfeited or canceled
  
(157
)
 
$
3.50
 
 
        
Balance at June 30, 2014
  
950
  
$
4.27
 
 
        
Exercisable at June 30, 2014
  
578
  
$
4.56
 

The summary of activity for all restricted stock during the fiscal years ended June 30, 2014, 2013 and 2012 is presented in the table below (in thousands):

 
 
Year Ended June 30,
 
 
 
2014
  
2013
  
2012
 
 
 
  
  
 
Unvested at beginning of the year
  
15
   
17
   
-
 
Granted
  
62
   
62
   
81
 
Vested
  
(62
)
  
(64
)
  
(64
)
Forfeited
  
-
   
-
   
-
 
 
            
Unvested at end of the year
  
15
   
15
   
17
 

The weighted average fair value per share of restricted stock granted during the fiscal years ended June 30, 2014, 2013, and 2012 was $4.84, $2.48 and $4.46, respectively. The weighted average fair value per share of restricted stock which vested during the fiscal years ended June 30, 2014, 2013 and 2012 was $4.25, $3.01 and $4.47, respectively.
 
The following table summarizes information about stock options outstanding as of June 30, 2014 (in thousands except per share amount):

  
Options Outstanding
 
Range of Exercise Price
  
Outstanding as of June 30, 2014
  
Weighted Average Remaining Life (in Years)
  
Weighted Average Exercise Price
 
  
  
  
 
$
0.00 - $2.50
   
99
   
1.35
  
$
2.10
 
$
2.51 - $3.50
   
192
   
5.55
  
$
2.95
 
$
3.51 - $5.50
   
560
   
4.34
  
$
4.36
 
$
5.51 - $7.50
   
-
   
-
  
$
-
 
$
7.51- $9.50
   
99
   
2.12
  
$
8.50
 
     
950
      
$
4.27
 

The following table summarizes information about stock options exercisable as of June 30, 2014 (in thousands except per share amount):
 
  
Options Exercisable
 
Range of Exercise Price
  
Exercisable as of June 30, 2014
  
Weighted Average Remaining Life (in Years)
  
Weighted Average Exercise Price
 
  
  
  
 
$
0.00 - $2.50
   
99
   
1.35
  
$
2.10
 
$
2.51 - $3.50
   
34
   
3.26
  
$
2.87
 
$
3.51 - $5.50
   
347
   
3.57
  
$
4.32
 
$
5.51 - $7.50
   
-
   
-
  
$
-
 
$
7.51- $9.50
   
98
   
2.12
  
$
8.50
 
     
578
      
$
4.56
 

As of June 30, 2014, there was $298 thousand of stock option and restricted stock compensation expense related to non-vested awards. This expense is expected to be recognized over a weighted average period of 2.8 years.