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74
recognize compensation cost on an accelerated basis over the requisite service period when achievement of the
performance condition is deemed probable. As of June 30, 2013, we had 270,000 RSUs outstanding that vest
based on the achievement of various performance targets through fiscal 2022. The performance criteria for 180,000
of these awards are currently deemed not probable of achievement. Future changes in our probability conclusions
could result in volatility of our share-based compensation expense as the awards have a maximum compensation
of $7,169.
A summary of our unvested RSU activity and related information for the fiscal year ended June 30, 2013 is
as follows:
RSUs
Weighted-
Average
Grant Date Fair
Value
Aggregate
Intrinsic
Value
Unvested at the beginning of the period . . . . . . . . . . . . . . . . . . . . . . . 1,099,390 $ 39.52
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 436,781 39.72
Vested and distributed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (339,554) 39.39
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (89,122) 41.30
Unvested at the end of the period. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,107,495 $ 39.49 $ 54,677
The weighted average fair value of RSUs granted during the fiscal years ended June 30, 2013, 2012 and
2011 was $39.72, $36.53, and $41.77, respectively. The total intrinsic value of RSUs vested during the fiscal years
ended June 30, 2013, 2012 and 2011 was $12,397, $14,047, and $19,277, respectively.
Restricted share awards
In conjunction with the December 2011 acquisition of Webs, we granted RSAs to the founding shareholders
of Webs that vested 50% on December 28, 2012 and will vest 50% on December 28, 2013, subject to continued
employment on the vesting date with possible accelerated vesting or forfeiture under certain circumstances. The fair
value of the RSAs of $15,843 was determined based on our share price on the date of acquisition and is being
recognized as share-based compensation expense over the two year vesting period.
A summary of our unvested RSA activity and related information for the fiscal year ended June 30, 2013 is
as follows:
RSAs
Weighted-
Average
Grant Date Fair
Value
Aggregate
Intrinsic
Value
Unvested at the beginning of the period . . . . . . . . . . . . . . . . . . . . . . . 506,343 $ 31.29
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
Vested and distributed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (253,172) 31.29
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
Unvested at the end of the period. . . . . . . . . . . . . . . . . . . . . . . . . . . . 253,171 $ 31.29 $ 12,499
Share-based compensation
Total share-based compensation costs were $32,928, $25,413 and $21,677 for the years ended June 30,
2013, 2012 and 2011, respectively. Share-based compensation costs capitalized as part of software and website
development costs were $130, $101 and $347 for the years ended June 30, 2013, 2012 and 2011, respectively.
As of June 30, 2013, there was $57,655 of total unrecognized compensation cost related to non-vested,
share-based compensation arrangements, net of estimated forfeitures. This cost is expected to be recognized over
a weighted average period of 3.1 years.
12. Employees’ Savings Plan
We maintain certain government mandated and defined contribution plans throughout the world. The most
significant is our defined contribution retirement plan in the U.S. (the “Plan”) that complies with Section 401(k) of the