Stock-Based Compensation Expense (Tables)
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12 Months Ended |
Mar. 31, 2021 |
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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 2021, 2020, and 2019 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, 2018 |
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365,624 |
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$ |
9.09 |
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Exercised |
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(37,906) |
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10.44 |
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Forfeited |
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(279) |
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21.52 |
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| Balance at March 31, 2019 |
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327,439 |
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$ |
8.92 |
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Exercised |
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(185,792) |
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6.24 |
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Forfeited |
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(4,295) |
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18.69 |
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| Balance at March 31, 2020 |
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137,352 |
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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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(71,492) |
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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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| Schedule of nonvested share activity |
For fiscal 2021, 2020, and 2019 the intrinsic value of stock option exercises was $646, $3,240, and $555, respectively. During fiscal 2021, no options exercised will be transacted in the first quarter of fiscal year ending March 31, 2022.
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Unvested Options |
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Number of Shares |
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Weighted Average Grant Date Fair Value |
| Balance at March 31, 2018 |
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19,000 |
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$ |
5.89 |
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Vested |
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(9,500) |
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5.89 |
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| Balance at March 31, 2019 |
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9,500 |
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$ |
5.89 |
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Vested |
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(9,500) |
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5.89 |
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| Balance at March 31, 2020 |
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— |
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$ |
— |
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Granted |
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— |
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— |
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Vested |
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— |
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— |
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Forfeited |
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— |
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— |
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| Balance at March 31, 2021 |
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— |
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$ |
— |
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| Schedule of shares oustanding, vested and exercisable |
The following table summarizes information about stock options outstanding as of March 31, 2021:
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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, 2021 |
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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, 2021 |
| $12.00 |
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10,470 |
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0.1 |
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$ |
12.00 |
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$ |
78,420 |
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10,470 |
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0.1 |
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$ |
12.00 |
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$ |
78,420 |
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| $14.28 |
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55,609 |
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9.2 |
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14.28 |
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289,723 |
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— |
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0 |
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14.28 |
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— |
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| $19.64 |
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28,499 |
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5.8 |
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19.64 |
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(4,275) |
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28,499 |
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5.8 |
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19.64 |
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(4,275) |
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| $21.52 |
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16,823 |
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1.3 |
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21.52 |
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(34,150) |
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16,823 |
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1.3 |
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21.52 |
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(34,150) |
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| $12.00 - $21.52 |
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111,401 |
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6.3 |
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$ |
16.53 |
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$ |
329,718 |
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55,792 |
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3.3 |
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$ |
18.77 |
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$ |
39,995 |
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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 2021, fiscal 2020, and fiscal 2019.
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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, 2018 |
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229,112 |
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$ |
19.55 |
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Granted |
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115,378 |
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23.44 |
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Released |
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(101,874) |
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19.93 |
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Forfeited |
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(5,591) |
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19.98 |
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| Balance of unvested units at March 31, 2019 |
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237,025 |
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$ |
21.26 |
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Granted |
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122,747 |
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22.17 |
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Released |
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(117,216) |
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20.39 |
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Forfeited |
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(5,850) |
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21.81 |
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| 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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| 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, 2021.
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| Fiscal Year Granted |
Target |
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Minimum |
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Maximum |
| Fiscal 2019 |
68,178 |
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0 |
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136,356 |
| Fiscal 2020 |
92,394 |
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0 |
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184,788 |
| Fiscal 2021 |
136,350 |
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0 |
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272,700 |
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