v3.25.1
Stock-Based Compensation (Tables)
9 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Incentive Equity Awards
The activity related to the Company’s incentive equity awards for the three months ended March 31, 2025 consisted of the following:
Stock OptionsTime-based
Restricted Stock Units
Performance-based
Restricted Stock Units
Number of
Options
Weighted-
Average
Exercise
Price
Number
of Shares
Weighted-
Average
Grant
Date Fair
Value
Number
of Shares
Weighted-
Average
Grant
Date Fair
Value
Balances at January 1, 2025
1,933,007 $138.10 883,973 $165.48 254,612 $171.84 
Granted289,284 240.59 8,395 232.92 2,173 228.45 
Exercise of stock options (a)(206,647)101.36 — — — — 
Vesting of restricted stock units
— — (4,194)157.09 — — 
Expired/forfeited(4,229)177.17 (14,623)170.53 (1,676)175.48 
Balances at March 31, 2025 (b),(c)
2,011,415 $156.53 873,551 $166.08 255,110 $172.30 
_________
(a)Stock options exercised during the period of January 1, 2025 through March 31, 2025 had an aggregate intrinsic value of $28.0 million.
(b)As of March 31, 2025, the Company’s outstanding vested and currently exercisable stock options using the March 31, 2025 closing stock price of $242.46 (approximately 1.2 million shares) had an aggregate intrinsic value of $133.2 million with a weighted-average exercise price of $130.68 and a weighted-average remaining contractual life of 5.4 years. The total of all stock options outstanding as of March 31, 2025 has a weighted-average remaining contractual life of 6.8 years.
(c)As of March 31, 2025, time-based restricted stock units and performance-based restricted stock units expected to vest using the March 31, 2025 closing stock price of $242.46 (approximately 0.8 million and 0.2 million shares, respectively) had an aggregate intrinsic value of $200.9 million and $58.3 million, respectively. Performance-based restricted stock units granted in the table above represent initial target awards, and performance adjustments for (i) change in shares issued based upon attainment of performance goals determined in the period, and (ii) estimated change in shares issued resulting from attainment of performance goals to be determined at the end of the prospective performance period.
The activity related to the Company’s incentive equity awards for the nine months ended March 31, 2025 consisted of the following:
Stock OptionsTime-based
Restricted Stock Units
Performance-based
Restricted Stock Units
Number of
Options
Weighted-
Average
Exercise
Price
Number
of Shares
Weighted-
Average
Grant
Date Fair
Value
Number
of Shares
Weighted-
Average
Grant
Date Fair
Value
Balances at June 30, 2024
2,180,621 $132.68 682,684 $146.05 161,805 $152.21 
Granted321,420 238.95 272,407 206.76 98,280 204.52 
Exercise of stock options (a)(484,950)103.60 — — — — 
Vesting of restricted stock units
— — (45,179)107.00 — — 
Expired/forfeited(5,676)182.56 (36,361)168.03 (4,976)155.56 
Balances at March 31, 2025
2,011,415 $156.53 873,551 $166.08 255,110 $172.30 
(a)Stock options exercised during the period of July 1, 2024 through March 31, 2025 had an aggregate intrinsic value of $58.8 million.