Stock-Based Compensation (Tables)
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12 Months Ended |
Mar. 31, 2024 |
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 2024, 2023, and 2022 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, 2021 |
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111,401 |
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$ |
16.53 |
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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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Balance at March 31, 2024 |
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74,366 |
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$ |
16.33 |
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Schedule of Stock Options Outstanding, Vested and Exercisable |
The following table summarizes information about stock options outstanding as of March 31, 2024:
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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, 2024 |
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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, 2024 |
$14.28 |
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45,867 |
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6.2 |
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$ |
14.28 |
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$ |
845,787 |
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45,867 |
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6.2 |
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$ |
14.28 |
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$ |
845,787 |
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$19.64 |
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28,499 |
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2.8 |
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19.64 |
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372,767 |
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28,499 |
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2.8 |
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19.64 |
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372,767 |
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$14.28 - $19.64 |
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74,366 |
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4.9 |
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$ |
16.33 |
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$ |
1,218,554 |
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74,366 |
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4.9 |
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$ |
16.33 |
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$ |
1,218,554 |
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Schedule of Unvested Restricted Stock Units Issued |
The following table summarizes the activity with regard to unvested restricted stock units issued to employees during fiscal 2024, 2023, and 2022.
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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, 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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Granted |
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135,963 |
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23.26 |
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Released |
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(176,813) |
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15.12 |
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Forfeited |
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(3,590) |
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20.57 |
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Balance of unvested units at March 31, 2024 |
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291,814 |
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$ |
20.00 |
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Schedule of Target Number of Stock Units that can be Earned |
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, 2024.
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Fiscal Year Granted |
Target |
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Minimum |
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Maximum |
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 |
Fiscal 2024 |
100,180 |
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— |
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200,360 |
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