Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.19.3.a.u2
Stock-based Compensation (Tables)
9 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
On May 18, 2019, the Company granted RSUs under the 2020/2021 LTIP with a grant date fair value of $18.15 per share that vest as follows (amounts in thousands):
 
Shares
May 18, 2020
66

May 18, 2021
121

May 18, 2022
123

Total RSUs granted (1)
310

 __________________
(1) RSUs granted include time-based and performance-based RSUs. Therefore, the granted performance-based RSUs included above are an estimate based upon current performance expectations. The final number of RSUs granted depends on the achievement of performance metrics.
The following is the vesting schedule of RSUs under each respective LTIP, that vested during the nine months ended December 31, 2019 (shares in thousands):
 
 
2019/2020
 
2018/2019
 
2017/2018
Time-based award vested
 
53

 
58

 
156

Performance-based award vested
 

 

 


RSU activity, including performance-based and time-based LTIP activity, for the nine months ended December 31, 2019 is as follows (amounts in thousands except fair value):
 
Shares
 
Weighted-
average
Fair Value on
Grant Date
Non-vested RSUs at March 31, 2019
1,415

 
$
15.19

Granted
596

 
22.07

Vested
(638
)
 
12.05

Forfeited
(17
)
 
16.47

Non-vested RSUs at December 31, 2019
1,356

 
$
19.68

Schedule of the compensation expense (recovery) associated with stock-based compensation
The expense associated with stock-based compensation for the three months ended December 31, 2019 and 2018 is recorded on the Condensed Consolidated Statements of Operations as follows (amounts in thousands):
 
Three Months Ended December 31, 2019
 
Three Months Ended December 31, 2018
 
Stock 
Options
 
RSUs
 
LTIPs
 
Stock 
Options
 
RSUs
 
LTIPs
Cost of sales
$

 
$
423

 
$
369

 
$

 
$
321

 
$
345

Selling, general and administrative expenses

 
820

 
701

 

 
547

 
220

Research and development

 
26

 
48

 

 
22

 
79

Total
$

 
$
1,269

 
$
1,118

 
$

 
$
890

 
$
644


The expense associated with stock-based compensation for the nine months ended December 31, 2019 and 2018 is recorded on the Condensed Consolidated Statements of Operations as follows (amounts in thousands):
 
Nine Months Ended December 31, 2019
 
Nine Months Ended December 31, 2018
 
Stock 
Options
 
RSUs
 
LTIPs
 
Stock 
Options
 
RSUs
 
LTIPs
Cost of sales
$

 
$
1,408

 
$
1,240

 
$

 
$
1,022

 
$
919

Selling, general and administrative expenses

 
3,999

 
2,304

 

 
6,236

 
1,580

Research and development

 
96

 
211

 

 
54

 
200

Total
$

 
$
5,503

 
$
3,755

 
$

 
$
7,312

 
$
2,699