Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.10.0.1
Stock-based Compensation (Tables)
6 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
On May 18, 2018, the Company granted RSUs under the 2019/2020 LTIP with a grant date fair value of $17.86 that vest as follows (amounts in thousands):
 
Shares
May 18, 2019
63

May 18, 2020
138

May 18, 2021
140

Total shares granted (1)
341

 __________________
(1) RSUs granted include a performance component. Therefore the granted shares shown above are an estimate based upon current performance expectations. The final number of shares granted depends on the achievement of performance metrics.
The following is the vesting schedule of RSUs under each respective LTIP, which vested during the six months ended September 30, 2018 (shares in thousands):
 
 
2018/2019
 
2017/2018
 
2016/2017
Time-based award vested
 
72

 
198

 
191

Performance-based award vested
 

 

 
173


Restricted stock activity, excluding the LTIP activity discussed above, for the six months ended September 30, 2018 is as follows (amounts in thousands except fair value):
 
Shares
 
Weighted-
average
Fair Value on
Grant Date
Non-vested restricted stock at March 31, 2018
1,405

 
$
9.82

Granted
83

 
25.13

Vested
(507
)
 
13.66

Forfeited
(11
)
 
6.84

Non-vested restricted stock at September 30, 2018
970

 
$
9.16

Schedule of the compensation expense (recovery) associated with stock-based compensation
The compensation expense associated with stock-based compensation for the three months ended September 30, 2018 and 2017 is recorded on the Condensed Consolidated Statements of Operations as follows (amounts in thousands):
 
Three Months Ended September 30, 2018
 
Three Months Ended September 30, 2017
 
Stock 
Options
 
Restricted 
Stock
 
LTIPs
 
Stock 
Options
 
Restricted 
Stock
 
LTIPs
Cost of sales
$

 
$
351

 
$
335

 
$

 
$
174

 
$
168

Selling, general and administrative expenses

 
2,807

 
840

 

 
726

 
416

Research and development

 
17

 
67

 

 
10

 
36

Total
$

 
$
3,175

 
$
1,242

 
$

 
$
910

 
$
620


The compensation expense associated with stock-based compensation for the six months ended September 30, 2018 and 2017 is recorded on the Condensed Consolidated Statements of Operations as follows (amounts in thousands):
 
Six Months Ended September 30, 2018
 
Six Months Ended September 30, 2017
 
Stock 
Options
 
Restricted 
Stock
 
LTIPs
 
Stock 
Options
 
Restricted 
Stock
 
LTIPs
Cost of sales
$

 
$
701

 
$
574

 
$

 
$
338

 
$
314

Selling, general and administrative expenses

 
5,688

 
1,361

 

 
1,083

 
804

Research and development

 
32

 
121

 

 
19

 
73

Total
$

 
$
6,421

 
$
2,056

 
$

 
$
1,440

 
$
1,191