v3.26.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Incentive Equity Awards
The activity related to the Company’s stock options for the fiscal years ended June 30, 2026, 2025 and 2024 consisted of the following:
Stock Options
Number
of
Options
Weighted
Average
Exercise
Price
Weighted Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in millions) (a)
Outstanding at June 30, 2023
2,696,805 $116.46 
Granted338,301 197.04 
Exercised (b)(732,491)98.34 
Expired/forfeited(121,994)158.93 
Outstanding at June 30, 2024
2,180,621 $132.68 
Granted322,641 238.93 
Exercised (b)(579,863)107.62 
Expired/forfeited(6,071)186.33 
Outstanding at June 30, 2025
1,917,328 $157.97 
Granted539,247 191.77 
Exercised (b)(207,291)104.01 
Expired/forfeited(42,376)168.49 
Outstanding at June 30, 2026
2,206,908 $171.09 6.76$9.7 
Exercisable at June 30, 2026
1,224,061 $149.16 5.12$9.7 
Vested and Expected to vest at June 30, 2026 (c)2,182,086 $170.77 6.73$9.7 
 _________
(a)Calculated using the closing stock price on the last trading day of fiscal year 2026 of $136.95, less the option exercise price, multiplied by the number of options.
(b)Stock options exercised during the fiscal years ended June 30, 2026, 2025 and 2024 had intrinsic values of $29.0 million, $69.0 million and $66.7 million, respectively.
(c)Options outstanding that are fully vested and expected to vest, net of estimated future forfeitures.
The activity related to the Company’s time-based restricted stock units and performance-based restricted stock units for the fiscal years ended June 30, 2026, 2025 and 2024 consisted of the following:
Time-based
RSUs
Performance-based
RSUs
Number
of
Shares
Weighted
Average
Grant-Date
Fair Value
Number
of
Shares
Weighted
Average
Grant-Date
Fair Value
Balances at June 30, 2023
731,327 $137.76 201,705 $153.42 
Granted299,368 173.18 92,905 168.95 
Vesting of RSUs (d)(294,088)152.47 (85,914)158.22 
Expired/forfeited(53,923)152.23 (46,891)145.22 
Outstanding at June 30, 2024
682,684 $146.05 161,805 $152.21 
Granted278,262 207.22 107,142 203.13 
Vesting of RSUs (d)(321,759)135.08 (79,046)137.47 
Expired/forfeited(48,584)173.56 (10,788)143.51 
Outstanding at June 30, 2025
590,603 $178.58 179,113 $189.69 
Granted262,266 216.06 122,962 217.50 
Vesting of RSUs (d)(77,038)163.22 (7,698)211.26 
Expired/forfeited(46,825)199.25 (8,645)207.32 
Outstanding at June 30, 2026 (e)
729,006 $192.36 285,732 $200.55 
(d)Time-based RSUs that vested during the fiscal years ended June 30, 2026, 2025 and 2024 had a total fair value of $15.2 million, $77.2 million and $59.0 million, respectively. Performance-based RSUs that vested during the fiscal years ended June 30, 2026, 2025 and 2024 had a total fair value of $1.8 million, $19.2 million and $17.2 million, respectively.
(e)As of June 30, 2026, time-based RSUs and performance-based RSUs expected to vest using the fiscal year-end share price of $136.95 had an aggregate intrinsic value of $94.9 million and $37.5 million, respectively. Performance-based RSUs 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.
Schedule of Assumptions Used to Determine Fair Values of Stock Option Grants
The following table presents the assumptions used to determine the fair values of the stock option grants using the Binomial options pricing model during the fiscal years ended June 30, 2026, 2025 and 2024:
Years ended June 30,
202620252024
Graded Vesting
Risk-free interest rate3.7%4.4%4.3%
Dividend yield2.0%1.5%1.7%
Weighted-average volatility factor25.6%23.9%23.7%
Weighted-average expected life (in years)5.35.55.5
Weighted-average fair value (in dollars)$46.64$62.15$49.31