Stock-Based Compensation Expense (Tables)
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12 Months Ended |
Mar. 31, 2017 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of shares outstanding |
A summary of stock option activity under our Stock Plans for fiscal 2017, fiscal 2016 and fiscal 2015 are as follows:
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Options Outstanding |
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|
Number of Shares |
|
Weighted Average Exercise Price |
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 |
|
|
Granted |
|
28,499 |
|
|
19.64 |
|
|
Exercised |
|
(47,484 |
) |
|
6.77 |
|
|
Forfeited |
|
(2,802 |
) |
|
19.58 |
|
Balance at March 31, 2017 |
|
411,939 |
|
|
$ |
8.94 |
|
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| Schedule of nonvested share activity |
For fiscal 2017, fiscal 2016 and fiscal 2015 the intrinsic value of stock option exercises was $627, $384, and $1,654, respectively. For the fiscal years ended March 31, 2017 and 2016, the Company recognized an excess tax deduction for options exercised of $(448) and $92, respectively, and was recorded in additional paid in capital.
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Unvested Options |
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Number of Shares |
|
Weighted Average Grant Date Fair Value |
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 |
|
|
Granted |
|
28,499 |
|
|
19.64 |
|
|
Vested |
|
(28,678 |
) |
|
6.93 |
|
|
Forfeited |
|
(2,802 |
) |
|
7.53 |
|
Balance at March 31, 2017 |
|
37,829 |
|
|
$ |
8.86 |
|
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| Schedule of shares oustanding, vested and exercisable |
The following table summarizes information about stock options outstanding as of March 31, 2017:
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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, 2017 |
|
Number Vested and Exercisable |
|
Weighted Average Contractual Life (Years) |
|
Weighted Average Exercise Price |
|
Aggregate Intrinsic Value at March 31, 2017 |
$5.20 |
|
273,221 |
|
|
3.55 |
|
$ |
5.20 |
|
|
$ |
4,273,176 |
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|
273,221 |
|
|
3.55 |
|
$ |
5.20 |
|
|
$ |
4,273,176 |
|
$9.82 |
|
13,339 |
|
|
3.91 |
|
9.82 |
|
|
146,996 |
|
|
13,339 |
|
|
3.91 |
|
9.82 |
|
|
146,996 |
|
$12.00 |
|
54,100 |
|
|
4.09 |
|
12.00 |
|
|
477,619 |
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|
54,100 |
|
|
4.09 |
|
12.00 |
|
|
477,619 |
|
$19.64 |
|
28,499 |
|
|
9.76 |
|
$ |
19.64 |
|
|
34,199 |
|
|
— |
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|
9.76 |
|
19.64 |
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|
$ |
— |
|
$21.52 |
|
42,780 |
|
|
5.34 |
|
21.52 |
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|
(28,820 |
) |
|
33,450 |
|
|
5.34 |
|
21.52 |
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|
(22,530 |
) |
$5.20-$21.52 |
|
411,939 |
|
|
4.25 |
|
$ |
8.94 |
|
|
$ |
4,903,170 |
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|
374,110 |
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|
4.25 |
|
$ |
7.81 |
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$ |
4,875,261 |
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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, 2014 |
|
17,516 |
|
|
$ |
20.09 |
|
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Granted |
|
— |
|
|
— |
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Released |
|
(17,516 |
) |
|
20.09 |
|
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Forfeited |
|
— |
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|
— |
|
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 |
|
— |
|
|
$ |
— |
|
|
Granted |
|
— |
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|
— |
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Released |
|
— |
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|
— |
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Forfeited |
|
— |
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|
— |
|
Balance of unvested awards at March 31, 2017 |
|
— |
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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, 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 |
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|
$ |
22.38 |
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Granted |
|
98,009 |
|
|
24.08 |
|
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Released |
|
(69,704 |
) |
|
21.97 |
|
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Forfeited |
|
(34,906 |
) |
|
22.53 |
|
Balance of unvested units at March 31, 2016 |
|
192,221 |
|
|
$ |
23.36 |
|
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Granted |
|
135,855 |
|
|
18.65 |
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Released |
|
(111,611 |
) |
|
22.74 |
|
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Forfeited |
|
(8,319 |
) |
|
21.25 |
|
Balance of unvested units at March 31, 2017 |
|
208,146 |
|
|
$ |
20.64 |
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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, 2017.
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Fiscal Year Granted |
Target |
|
Minimum |
|
Maximum |
Fiscal 2016 |
38,086 |
|
— |
|
|
76,172 |
Fiscal 2017 |
47,486 |
|
— |
|
|
94,972 |
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 2015 |
19,446 |
|
4,284 |
|
15,162 |
Fiscal 2016 |
31,658 |
|
8,669 |
|
22,989 |
Fiscal 2017 |
— |
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|
— |
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|
— |
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