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Table of Contents
A summary of our stock option activity is as follows (in thousands except per share and contractual life amounts):
During fiscal 2015 , 2014 and 2013 , the total cash received from the exercise of stock options was $4.4 million , $896,000 and $2.8
million , respectively, and the total intrinsic value of stock options exercised was $2.4 million , $467,000 and $5.0 million , respectively.
A summary of our RSU activity is as follows (in thousands except contractual life amounts):
Canceled shares in the table above include approximately 409,000 shares surrendered for tax withholdings related to net share settlements
of vested RSUs.
Performance-based RSUs
On May 5, 2015, our board of directors approved the 2015 Performance Share Program, or 2015 Program, including the award calculation
methodology, under the terms of our 2009 Equity Incentive Plan. Under the 2015 Program, RSUs and/or cash bonuses may be earned based on
the achievement of specified performance conditions measured over periods ranging from approximately 15 to 21
months. Participants in the
2015 Program generally have the ability to receive 0% to 100%
of the target number of restricted stock units or cash bonus originally granted.
The expense associated with performance-
based RSU grants is recorded when the performance condition is determined to be probable. Fully
vested restricted stock units and or cash bonuses will be awarded upon management’s certification of the level of achievement.
As of June 30, 2015, we had granted 106,000 RSUs under the 2015 Program and no RSUs had been earned or canceled. At June 30, 2015,
based upon our closing stock price the total unrecognized stock-based compensation cost related to RSUs issued in connection with the 2015
program was $853,000 .
F-24
Number of
shares
Weighted
average
exercise price
per share
Weighted
average
remaining
contractual
life (years)
Aggregate
intrinsic value
Options outstanding as of June 30, 2014
5,697
$
5.59
Granted
587
5.65
Exercised
(890
)
4.96
Canceled
(613
)
8.01
Options outstanding as of June 30, 2015
4,781
$
5.40
4.58
$
13,960
As of June 30, 2015:
Options vested and expected to vest
4,620
$
5.34
4.52
$
13,757
Options exercisable
3,709
$
5.02
4.00
$
12,450
Number of
Shares
Weighted
average
remaining
contractual
life (years)
Aggregate
intrinsic value
RSUs outstanding as of June 30, 2014
4,710
Granted
1,891
Vested
(1,094
)
Canceled
(1,217
)
RSUs outstanding as of June 30, 2015
4,290
1.51
$
34,536
As of June 30, 2015:
RSUs expected to vest
3,615
1.39
$
29,097