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Stock-Based Compensation Expense
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3 Months Ended |
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Jun. 30, 2013
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
| Stock-Based Compensation Expense |
Stock-Based Compensation Expense
Since the completion of the CHS Transactions on April 30, 2010, the board of directors has adopted and the shareholders have approved two stock option award plans. The 2010 Thermon Group Holdings, Inc. Restricted Stock and Stock Option Plan (“2010 Plan”) was approved on July 28, 2010. The 2010 Plan authorized the issuance of 2,767,171 stock options or restricted shares (on a post stock split basis). On April 8, 2011, the board of directors approved the Thermon Group Holdings, Inc. 2011 Long-Term Incentive Plan (“2011 LTIP”). The 2011 LTIP made available 2,893,341 shares of the Company’s common stock that may be awarded to employees, directors or non-employee contractor's compensation in the form of stock options or restricted stock awards.
At June 30, 2013, there were 1,046,700 options outstanding. Stock compensation expense was $366 and $58 during the three months ended June 30, 2013 and 2012, respectively.
During the three months ended June 30, 2013, 6,000 restricted stock units were issued to our employees with a total fair value of $126. The fair value was determined based on the closing price of our stock on the date of issuance which ranged from $20.70 to $22.02. The restricted stock units will be expensed on a straight-line basis over a five year period and will vest on each anniversary of the issuance date over the same period.
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