Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.1
EQUITY, LONG-TERM INCENTIVE COMPENSATION PLANS AND NON-CONTROLLING INTEREST (Tables)
 9 Months Ended
Mar. 31, 2023
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)
(1,012)
RSUs canceled 88 
Balance as of March 31, 2023 8,318 
__________________ 
(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 nine months ended March 31, 2023 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 nine months ended March 31, 2023 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 nine months ended March 31, 2023 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 March 31, Nine Months Ended March 31,
(In thousands) 2023 2022 2023 2022
Stock-based compensation expense by:
Costs of revenues $ 8,596  $ 6,543  $ 20,189  $ 14,475 
R&D 13,289  8,482  30,437  18,077 
SG&A 26,245  22,062  70,891  57,517 
Total stock-based compensation expense $ 48,130  $ 37,087  $ 121,517  $ 90,069 
Schedule of Restricted Stock Activity
The following table shows the activity and weighted-average grant date fair values for RSUs during the nine months ended March 31, 2023:
Shares(1)
(In thousands)
 Weighted-Average
Grant Date
Fair Value
Outstanding RSUs as of June 30, 2022(2)
1,593  $ 218.03 
Granted(3)
506  $ 390.53 
Vested and released (264) $ 147.65 
Withheld for taxes (190) $ 147.65 
Forfeited (45) $ 179.82 
Outstanding RSUs as of March 31, 2023(2)
1,600  $ 293.58 
__________________ 
(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 nine months ended March 31, 2023 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 nine months ended March 31, 2023).
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, aggregate grant date fair value of RSUs vested, and tax benefits realized by us in connection with vested and released RSUs for the indicated periods:
Three Months Ended March 31, Nine Months Ended March 31,
(In thousands, except for weighted-average grant date fair value) 2023 2022 2023 2022
Weighted-average grant date fair value per unit $ 409.77  $ 388.03  $ 390.53  $ 358.38 
Grant date fair value of vested RSUs $ 9,217  $ 10,150  $ 67,152  $ 57,453 
Tax benefits realized by us in connection with vested and released RSUs $ 4,517  $ 3,993  $ 17,368  $ 17,914 
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 March 31, Nine Months Ended March 31,
  2023 2022 2023 2022
Stock purchase plan:
Expected stock price volatility 43.8  % 41.5  % 42.7  % 38.2  %
Risk-free interest rate 3.9  % 0.1  % 2.5  % 0.1  %
Dividend yield 1.4  % 1.0  % 1.6  % 1.2  %
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 March 31, Nine Months Ended March 31,
2023 2022 2023 2022
Total cash received from employees for the issuance of shares under the ESPP $ —  $ —  $ 33,793  $ 36,912 
Number of shares purchased by employees through the ESPP —  —  134  139 
Tax benefits realized by us in connection with the disqualifying dispositions of shares purchased under the ESPP $ 616  $ 488  $ 1,540  $ 1,686 
Weighted-average fair value per share based on Black-Scholes model $ 97.32  $ 107.45  $ 89.81  $ 94.91