Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.3
EQUITY, LONG-TERM INCENTIVE COMPENSATION PLANS AND NON-CONTROLLING INTEREST (Tables)
 3 Months Ended
Sep. 30, 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)
Balance as of June 30, 2023 7,761 
Restricted stock units granted(2)
(386)
Restricted stock units canceled 27 
Balance as of September 30, 2023 7,402 
__________________ 
(1)The number of restricted stock units (“RSU”) 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)Includes RSUs granted to senior management during the three months ended September 30, 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 RSU”). This line item includes all such performance-based RSUs granted during the three months ended September 30, 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 (0.2 million shares for the three months ended September 30, 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 September 30,
(In thousands) 2023 2022
Stock-based compensation expense by:
Costs of revenues $ 7,669  $ 5,589 
R&D 13,028  8,356 
SG&A 28,075  21,037 
Total stock-based compensation expense $ 48,772  $ 34,982 
Schedule of Restricted Stock Activity
The following table shows the activity and weighted-average grant date fair values for RSUs during the three months ended September 30, 2023:
Shares(1)
(In thousands)
 Weighted-Average
Grant Date
Fair Value
Outstanding RSUs as of June 30, 2023(2)
1,715  $ 312.40 
Granted(3)
193  $ 501.15 
Vested and released (309) $ 212.16 
Forfeited (14) $ 342.70 
Outstanding RSUs as of September 30, 2023(2)
1,585  $ 354.61 
__________________ 
(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 three months ended September 30, 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 (0.1 million shares for the three months ended September 30, 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 September 30,
(In thousands, except for weighted-average grant date fair value) 2023 2022
Weighted-average grant date fair value per unit $ 501.15  $ 397.40 
Grant date fair value of vested RSUs $ 65,524  $ 49,906 
Tax benefits realized by us in connection with vested and released RSUs $ 16,054  $ 10,543 
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 September 30,
  2023 2022
Stock purchase plan:
Expected stock price volatility 32.8  % 41.6  %
Risk-free interest rate 5.1  % 1.1  %
Dividend yield 1.1  % 1.8  %
Expected life (in years) 0.5 0.5
Schedule of Tax Benefits Realized and Weighted-average fair value for the ESPP There was no cash received from employees for the issuance of shares under the ESPP or shares purchased by employees through the ESPP in the three months ended September 30, 2023 and 2022. The following table shows 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 September 30,
2023 2022
Tax benefits realized by us in connection with the disqualifying dispositions of shares purchased under the ESPP $ 1,365  $ 562 
Weighted-average fair value per share based on Black-Scholes model $ 114.32  $ 73.31