Note 11. Equity

Equity Offering Program

The Company has in place an ATM Equity Offering^SM Sales Agreement with BofA Securities, Inc. and Piper Sandler & Co. (the “Sales Agreement”), pursuant to which the Company may sell from time-to-time shares of its common stock having an aggregate offering price of up to $100 million (the “Equity Offering Program”). As of December 31, 2021, the Company had sold an aggregate of $93.0 million of its shares in the Equity Offering Program.

The following table summarizes sales through the Equity Offering Program during the six months ended December 31, 2021:

Equity Incentive Plans

During the six months ended December 31, 2021, the Company granted employees options to purchase an aggregate of approximately 0.6 million shares of common stock. The fair values of the Company’s options were estimated at the dates of grant using a Black-Scholes option pricing model with the following assumptions:

During the six months ended December 31, 2021 the Company awarded certain employees and directors grants of an aggregate of approximately 0.9 million restricted stock units (“RSUs”) with a weighted average grant date fair value of $9.23. The RSUs will be expensed over the requisite service period. The terms of the RSUs include vesting provisions based solely on continued service. If the service criteria are satisfied, the RSUs will generally vest over 4 – 5 years.

Compensation expense related to our stock-based awards described above was as follows (in thousands):

Unrecognized stock-based compensation expense and weighted-average years to be recognized are as follows (in thousands):