Quarterly report pursuant to Section 13 or 15(d)

EQUITY, LONG-TERM INCENTIVE COMPENSATION PLANS AND NON-CONTROLLING INTEREST (Tables)

v3.22.4
EQUITY, LONG-TERM INCENTIVE COMPENSATION PLANS AND NON-CONTROLLING INTEREST (Tables)
 6 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Combined Activity Under Equity Incentive Plans
The following table summarizes the combined activity under our equity incentive plans:
(In thousands)
Available
 For Grant(1) (2)
Balance as of June 30, 2022 9,242 
RSUs granted(3)
(971)
RSUs canceled 80 
Balance as of December 31, 2022 8,351 
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(1)The number of RSUs reflects the application of the award multiplier of 2.0x to calculate the impact of the award on the shares reserved under the 2004 Plan.
(2)No additional stock options, RSUs or other awards will be granted under the Assumed Equity Plans.
(3)Includes RSUs granted to senior management during the six months ended December 31, 2022 with performance-based vesting criteria (in addition to service-based vesting criteria for any of such RSUs that are deemed to have been earned) (“performance-based RSUs”). This line item includes all such performance-based RSUs granted during the six months ended December 31, 2022 reported at the maximum possible number of shares that may ultimately be issuable if all applicable performance-based criteria are achieved at their maximum levels and all applicable service-based criteria are fully satisfied (0.6 million shares for the six months ended December 31, 2022 reflects the application of the multiplier described above).
Schedule of Stock-based Compensation Expense
The following table shows stock-based compensation expense for the indicated periods: 
Three Months Ended December 31, Six Months Ended December 31,
(In thousands) 2022 2021 2022 2021
Stock-based compensation expense by:
Costs of revenues $ 6,004  $ 4,094  $ 11,593  $ 7,932 
R&D 8,792  4,901  17,148  9,595 
SG&A 23,609  18,771  44,646  35,455 
Total stock-based compensation expense $ 38,405  $ 27,766  $ 73,387  $ 52,982 
Schedule of Restricted Stock Activity
The following table shows the activity and weighted-average grant date fair values for RSUs during the six months ended December 31, 2022:
Shares(1)
(In thousands)
 Weighted-Average
Grant Date
Fair Value
Outstanding RSUs as of June 30, 2022(2)
1,593  $ 218.03 
Granted(3)
485  $ 389.71 
Vested and released (207) $ 162.71 
Withheld for taxes (148) $ 162.71 
Forfeited (41) $ 165.56 
Outstanding RSUs as of December 31, 2022(2)
1,682  $ 280.49 
__________________ 
(1)Share numbers reflect actual shares subject to awarded RSUs.
(2)Includes performance-based RSUs.
(3)This line item includes performance-based RSUs granted during the six months ended December 31, 2022 reported at the maximum possible number of shares that may ultimately be issuable if all applicable performance-based criteria are achieved at their maximum levels and all applicable service-based criteria are fully satisfied (0.3 million shares for the six months ended December 31, 2022).
Schedule of Grant Date Fair Value, Weighted Average Grant Date Fair Value, and Tax Benefits for Restricted Stock Units
The following table shows the weighted-average grant date fair value per unit for the RSUs granted, vested, and tax benefits realized by us in connection with vested and released RSUs for the indicated periods:
Three Months Ended December 31, Six Months Ended December 31,
(In thousands, except for weighted-average grant date fair value) 2022 2021 2022 2021
Weighted-average grant date fair value per unit $ 312.42  $ 393.67  $ 389.71  $ 356.39 
Grant date fair value of vested RSUs $ 8,029  $ 10,563  $ 57,935  $ 47,303 
Tax benefits realized by us in connection with vested and released RSUs $ 2,308  $ 4,913  $ 12,851  $ 13,921 
Schedule of Employee Stock Purchase Rights Valuation
The fair value of each purchase right under the ESPP was estimated on the date of grant using the Black-Scholes model and the straight-line attribution approach with the following weighted-average assumptions: 
  Three Months Ended December 31, Six Months Ended December 31,
  2022 2021 2022 2021
Stock purchase plan:
Expected stock price volatility 41.6  % 34.9  % 41.6  % 34.9  %
Risk-free interest rate 1.1  % 0.1  % 1.1  % 0.1  %
Dividend yield 1.8  % 1.4  % 1.8  % 1.4  %
Expected life (in years) 0.5 0.5 0.5 0.5
Schedule of Tax Benefits Realized and Weighted-average fair value for the ESPP The following table shows total cash received from employees for the issuance of shares under the ESPP, the number of shares purchased by employees through the ESPP, the tax benefits realized by us in connection with the disqualifying dispositions of shares purchased under the ESPP and the weighted-average fair value per share for the indicated periods:
(In thousands, except for weighted-average fair value per share) Three Months Ended December 31, Six Months Ended December 31,
2022 2021 2022 2021
Total cash received from employees for the issuance of shares under the ESPP $ 33,793  $ 36,912  $ 33,793  $ 36,912 
Number of shares purchased by employees through the ESPP 134  139  134  139 
Tax benefits realized by us in connection with the disqualifying dispositions of shares purchased under the ESPP $ 362  $ 231  $ 924  $ 1,198 
Weighted-average fair value per share based on Black-Scholes model $ 73.31  $ 71.82  $ 73.31  $ 71.82