Stock-Based Compensation Expense (Tables)
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12 Months Ended |
Mar. 31, 2023 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of shares outstanding |
A summary of stock option activity under our Stock Plans for fiscal 2023, 2022, and 2021 are as follows:
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Options Outstanding |
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Number of Shares |
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Weighted Average Exercise Price |
| Balance at March 31, 2020 |
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163,016 |
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$ |
12.25 |
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Granted |
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71,780 |
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14.28 |
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Exercised |
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(97,156) |
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6.81 |
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Forfeited |
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(16,171) |
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14.28 |
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Expired |
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(10,068) |
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$ |
14.73 |
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| Balance at March 31, 2021 |
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111,401 |
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$ |
16.53 |
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Granted |
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— |
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— |
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Exercised |
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(8,100) |
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12.00 |
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Forfeited |
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(9,742) |
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14.28 |
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Expired |
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(4,322) |
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16.30 |
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| Balance at March 31, 2022 |
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89,237 |
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$ |
17.20 |
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Expired |
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(14,871) |
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$ |
21.52 |
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| Balance at March 31, 2023 |
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74,366 |
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$ |
16.33 |
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| Schedule of shares oustanding, vested and exercisable |
The following table summarizes information about stock options outstanding as of March 31, 2023:
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Options Outstanding |
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Options Vested and Exercisable |
| Exercise Price |
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Number Outstanding |
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Weighted Average Contractual Life (Years) |
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Weighted Average Exercise Price |
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Aggregate Intrinsic Value at March 31, 2023 |
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Number Vested and Exercisable |
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Weighted Average Contractual Life (Years) |
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Weighted Average Exercise Price |
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Aggregate Intrinsic Value at March 31, 2023 |
| $14.28 |
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45,867 |
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7.2 |
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$ |
14.28 |
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$ |
393,810 |
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— |
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7.2 |
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$ |
— |
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$ |
— |
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| $19.64 |
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28,499 |
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3.8 |
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19.64 |
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244,690 |
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28,499 |
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3.8 |
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19.64 |
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— |
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| $14.28 - $19.64 |
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74,366 |
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5.9 |
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$ |
16.33 |
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$ |
638,500 |
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28,499 |
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5.9 |
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$ |
19.64 |
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$ |
— |
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| Schedule restricted stock activity |
The following table summarizes the activity with regard to unvested restricted stock units issued to employees during fiscal 2023, 2022, and 2021.
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| Restricted Stock Units |
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Number of Shares |
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Weighted Average Grant Fair Value |
| Balance of unvested units at March 31, 2020 |
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236,706 |
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$ |
22.14 |
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Granted |
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222,679 |
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13.75 |
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Released |
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(115,504) |
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21.33 |
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Forfeited |
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(39,357) |
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16.95 |
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| Balance of unvested units at March 31, 2021 |
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304,524 |
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$ |
12.96 |
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Granted |
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139,242 |
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17.62 |
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Released |
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(125,089) |
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19.42 |
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Forfeited |
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(24,524) |
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|
14.81 |
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| Balance of unvested units at March 31, 2022 |
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294,153 |
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$ |
16.26 |
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Granted |
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167,842 |
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16.82 |
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Released |
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(112,157) |
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17.56 |
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Forfeited |
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(13,584) |
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15.83 |
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| Balance of unvested units at March 31, 2023 |
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336,254 |
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$ |
16.12 |
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| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award |
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, 2023.
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| Fiscal Year Granted |
Target |
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Minimum |
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Maximum |
| Fiscal 2021 |
136,350 |
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— |
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272,700 |
| Fiscal 2022 |
95,068 |
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— |
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190,136 |
| Fiscal 2023 |
135,479 |
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— |
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270,958 |
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