Note 10. Share-based Compensation:

During the nine months ended March 31, 2024 and 2023, the Company granted 1.0 million and 2.3 million stock options at weighted average grant prices of $80.07 and $93.96 and weighted average fair values of $27.47 and $29.58, respectively. During the nine months ended March 31, 2024 and 2023, the Company granted 353,656 and 90,352 restricted stock units at a weighted average fair value of $78.41 and $93.84, respectively. During the nine months ended March 31, 2024 and 2023, the Company granted 27,196 and 10,816 shares of restricted common stock shares at a weighted average fair value of $56.98 and $73.94.

Stock options for 1,590,362 and 1,271,338 shares of common stock with total intrinsic values of $73.1 million and $74.1 million were exercised during the nine months ended March 31, 2024 and 2023, respectively.

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Stock-based compensation expense, inclusive of payroll taxes, of $8.1 million and $10.2 million was included in selling, general and administrative expenses for the quarter ended March 31, 2024 and 2023, respectively. Stock-based compensation expenses, inclusive of payroll taxes, of $31.7 million and $41.5 million was included in selling, general, and administrative expenses for the nine months ended March 31, 2024 and 2023, respectively. Additionally, the Company recognized $0.1 million and $0.6 million of stock-based compensation costs in cost of goods sold in the quarter and nine months ended March 31, 2024, respectively, compared to $0.2 million and $0.8 million in cost of goods sold in the comparative prior year periods. As of March 31, 2024, there was $41.2 million of unrecognized compensation cost related to non-vested stock options, non-vested restricted stock units and non-vested restricted stock. The weighted average period over which the compensation cost is expected to be recognized is 2.2 years.

In fiscal 2015, the Company established the Bio-Techne Corporation 2014 Employee Stock Purchase Plan (ESPP), which was approved by the Company's shareholders on October 30, 2014, and which is designed to comply with IRS provisions governing employee stock purchase plans. 800,000 shares were allocated to the ESPP. The Company recorded expense of $0.1 million for the quarter ended March 31, 2024 and $0.1 million for the quarter ended March 31, 2023. The Company recorded expense of $0.5 million and $0.5 million for the nine months ended March 31, 2024 and 2023, respectively.