Stock-Based Compensation (Tables)

6 Months Ended

Sep. 30, 2014

Stock-Based Awards Issued During The Period

During the six-month periods ended September 30, 2014 and 2013, Universal issued the following stock-based awards, representing the regular annual grants to officers and outside directors of the Company:



	Six Months Ended September 30,
	2014		2013

RSUs:
Number granted	79,950		61,600
Grant date fair value	$	52.78	$	60.12

PSAs:
Number granted	48,450		52,400
Grant date fair value	$	46.41	$	53.56

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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