Stock-Based Compensation Expense (Tables)
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12 Months Ended |
Mar. 31, 2016 |
|---|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
|
| Schedule of shares outstanding |
A summary of stock option activity under our Stock Plans for fiscal 2016, fiscal 2015 and fiscal 2014 are as follows:
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Options Outstanding |
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|
Number of Shares |
|
Weighted Average Exercise Price |
Balance at March 31, 2013 |
|
1,132,780 |
|
|
$ |
6.98 |
|
|
Exercised |
|
(566,487 |
) |
|
5.90 |
|
|
Forfeited |
|
(7,827 |
) |
|
15.73 |
|
Balance at March 31, 2014 |
|
558,466 |
|
|
$ |
7.96 |
|
|
Exercised |
|
(88,050 |
) |
|
6.87 |
|
|
Forfeited |
|
(5,374 |
) |
|
12.04 |
|
Balance at March 31, 2015 |
|
465,042 |
|
|
$ |
8.12 |
|
|
Exercised |
|
(29,056 |
) |
|
8.25 |
|
|
Forfeited |
|
(2,260 |
) |
|
17.10 |
|
Balance at March 31, 2016 |
|
433,726 |
|
|
$ |
8.07 |
|
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| Schedule of nonvested share activity |
For fiscal 2016, fiscal 2015 and fiscal 2014 the intrinsic value of stock option exercises was $384, $1,654, and $10,285, respectively. For the fiscal years ended March 31, 2016 and 2015, the Company recognized an excess tax deduction for options exercised of $92 and $1,592, respectively, and was recorded in additional paid in capital. For the year ended March 31, 2014, the Company incurred a loss of $118 related to the vesting of and exercise of employee equity awards.
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Unvested Options |
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|
Number of Shares |
|
Weighted Average Grant Date Fair Value |
Balance at March 31, 2013 |
|
146,226 |
|
|
$ |
8.34 |
|
|
Vested |
|
(33,001 |
) |
|
6.92 |
|
|
Forfeited |
|
(7,827 |
) |
|
8.32 |
|
Balance at March 31, 2014 |
|
105,398 |
|
|
$ |
8.33 |
|
|
Vested |
|
(26,575 |
) |
|
6.94 |
|
|
Forfeited |
|
(5,374 |
) |
|
6.14 |
|
Balance at March 31, 2015 |
|
73,449 |
|
|
$ |
7.19 |
|
|
Vested |
|
(30,379 |
) |
|
6.93 |
|
|
Forfeited |
|
(2,260 |
) |
|
7.53 |
|
Balance at March 31, 2016 |
|
40,810 |
|
|
$ |
7.39 |
|
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| Schedule of shares oustanding, vested and exercisable |
The following table summarizes information about stock options outstanding as of March 31, 2016:
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Options Outstanding |
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Options Vested and Exercisable |
Exercise Price |
|
Number Outstanding |
|
Weighted Average Contractual Life (Years) |
|
Weighted Average Exercise Price |
|
Aggregate Intrinsic Value at March 31, 2016 |
|
Number Vested and Exercisable |
|
Weighted Average Contractual Life (Years) |
|
Weighted Average Exercise Price |
|
Aggregate Intrinsic Value at March 31, 2016 |
$5.20 |
|
309,715 |
|
|
4.55 |
|
$ |
5.20 |
|
|
$ |
3,828,077 |
|
|
309,715 |
|
|
4.55 |
|
$ |
5.20 |
|
|
$ |
3,828,077 |
|
$9.82 |
|
13,339 |
|
|
4.91 |
|
9.82 |
|
|
103,244 |
|
|
13,339 |
|
|
4.91 |
|
9.82 |
|
|
103,244 |
|
$12.00 |
|
65,660 |
|
|
5.12 |
|
12.00 |
|
|
364,445 |
|
|
44,720 |
|
|
5.12 |
|
12.00 |
|
|
248,143 |
|
$21.52 |
|
45,012 |
|
|
6.34 |
|
21.52 |
|
|
(177,978 |
) |
|
25,142 |
|
|
6.34 |
|
21.52 |
|
|
(99,400 |
) |
$5.20-$21.52 |
|
433,726 |
|
|
4.82 |
|
$ |
8.07 |
|
|
$ |
4,117,788 |
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|
392,916 |
|
|
4.82 |
|
$ |
7.18 |
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|
$ |
4,080,064 |
|
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| Schedule restricted stock activity |
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Restricted Stock Awards |
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Number of Shares |
|
Weighted Average Grant Price |
Balance of unvested awards at March 31, 2013 |
|
21,080 |
|
|
$ |
18.09 |
|
|
Granted |
|
17,416 |
|
|
20.09 |
|
|
Released |
|
(20,980 |
) |
|
18.09 |
|
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Forfeited |
|
— |
|
|
— |
|
Balance of unvested awards at March 31, 2014 |
|
17,516 |
|
|
$ |
20.09 |
|
|
Granted |
|
— |
|
|
— |
|
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Released |
|
(17,516 |
) |
|
20.09 |
|
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Forfeited |
|
— |
|
|
— |
|
Balance of unvested awards at March 31, 2015 |
|
— |
|
|
$ |
— |
|
|
Granted |
|
— |
|
|
— |
|
|
Released |
|
— |
|
|
— |
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|
Forfeited |
|
— |
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|
— |
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Balance of unvested awards at March 31, 2016 |
|
— |
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|
$ |
— |
|
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Restricted Stock Units |
|
Number of Shares |
|
Weighted Average Grant Fair Value |
Balance of unvested units at March 31, 2013 |
|
71,109 |
|
|
$ |
21.52 |
|
|
Granted |
|
117,904 |
|
|
20.14 |
|
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Released |
|
(18,786 |
) |
|
21.52 |
|
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Forfeited |
|
(5,902 |
) |
|
21.52 |
|
Balance of unvested units at March 31, 2014 |
|
164,325 |
|
|
$ |
20.53 |
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Granted |
|
96,462 |
|
|
24.44 |
|
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Released |
|
(46,623 |
) |
|
20.67 |
|
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Forfeited |
|
(15,342 |
) |
|
20.76 |
|
Balance of unvested units at March 31, 2015 |
|
198,822 |
|
|
$ |
22.38 |
|
|
Granted |
|
98,009 |
|
|
24.08 |
|
|
Released |
|
(69,704 |
) |
|
21.97 |
|
|
Forfeited |
|
(34,906 |
) |
|
22.53 |
|
Balance of unvested units at March 31, 2016 |
|
192,221 |
|
|
$ |
23.36 |
|
|
| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award |
The following table summarizes the number of awards earned and released during each fiscal year based on the results achieved for respective performance period:
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Fiscal Year Earned |
Number of Shares Earned |
|
Number of Shares Withheld for Tax Obligation |
|
Number of Shares Released |
Fiscal 2014 |
12,254 |
|
1,660 |
|
10,594 |
Fiscal 2015 |
19,446 |
|
4,284 |
|
15,162 |
Fiscal 2016 |
31,658 |
|
8,669 |
|
22,989 |
The following table summarized the target number of performance stock units outstanding and the minimum and maximum number of shares that can be earned as of March 31, 2016.
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Fiscal Year Granted |
Target |
|
Minimum |
|
Maximum |
Fiscal 2014 |
12,096 |
|
— |
|
|
24,192 |
Fiscal 2015 |
38,703 |
|
— |
|
|
77,406 |
Fiscal 2016 |
38,086 |
|
— |
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|
76,172 |
|