XML 51 R38.htm IDEA: XBRL DOCUMENT v3.23.1
EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Mar. 31, 2023
EMPLOYEE BENEFIT PLANS  
Schedule of activity related to options under all plans

Year Ended March 31, 

    

2023

2022

2021

 

    

Weighted 

    

    

Weighted 

    

    

Weighted 

Average

Average

Average

Number of

Exercise

Number of

Exercise

Number of

Exercise

 

 Shares

 

Price

 

Shares

 

Price

 

Shares

 

  Price

Balance, beginning of period

 

17,332

$

2.78

 

23,332

$

2.78

 

43,332

$

2.69

Options exercised

 

(1,511)

 

2.78

 

(6,000)

 

2.78

 

(20,000)

 

2.58

Options expired

 

(1,511)

 

2.78

 

 

 

 

Balance, end of period

 

14,310

$

2.78

 

17,332

$

2.78

 

23,332

$

2.78

Schedule of additional information regarding stock options outstanding

Options Outstanding

Options Exercisable

    

Weighted Avg

    

    

Weighted

    

    

Weighted

Remaining

Average

Average

Range of

Contractual

Exercise

Exercise

Exercise Price

Life (years)

Number

Price

Number

Price

$1.00 - $3.00

 

0.29

 

14,310

$

2.78

 

14,310

$

2.78

Schedule of information of stock options outstanding

The following table presents information on stock options outstanding, less estimated forfeitures, as of March 31, 2023 and 2022:

March 31, 2023

March 31, 2022

Stock options fully vested and expected to vest:

  

 

  

Number

14,310

 

17,332

Weighted average exercise price

$

2.78

$

2.78

Aggregate intrinsic value (1)

$

37,000

$

83,000

Weighted average contractual term of options (years)

 

0.29

 

1.29

Stock options fully vested and currently exercisable:

 

 

Number

 

14,310

 

17,332

Weighted average exercise price

$

2.78

$

2.78

Aggregate intrinsic value (1)

$

37,000

$

83,000

Weighted average contractual term of options (years)

 

0.29

 

1.29

(1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price) that would have been received by the option holders had all option holders exercised. This amount changes based on changes in the market value of the Company’s stock.

Schedule of unvested restricted stock activity

    

Time Based

    

Performance Based

    

Total

Number 

Weighted 

Number 

Weighted 

Number 

Weighted 

of

Average 

of

Average 

of

Average 

 Unvested 

Grant Date

 Unvested 

Grant Date

 Unvested 

Grant Date

Year Ended March 31, 2023

    

Shares

    

Fair Value

    

Shares

    

Fair Value

    

Shares

    

Fair Value

Balance, beginning of period

 

26,855

$

6.02

 

121,492

$

5.70

 

148,347

$

5.76

Granted

 

15,571

 

6.30

 

56,125

 

6.30

 

71,696

 

6.30

Forfeited

 

 

 

(2,977)

 

7.56

 

(2,977)

 

7.56

Vested

 

(12,449)

 

6.07

 

(41,995)

 

5.26

 

(54,444)

 

5.45

Balance, end of period

 

29,977

$

6.14

 

132,645

$

6.05

 

162,622

$

6.07

    

Time Based

    

Performance Based

    

Total

Number 

Weighted 

Number 

Weighted 

Number 

Weighted 

of

Average 

of

Average 

of

Average 

 Unvested 

Grant Date

 Unvested 

Grant Date

 Unvested 

Grant Date

Year Ended March 31, 2022

    

Shares

    

Fair Value

    

Shares

    

Fair Value

    

Shares

    

Fair Value

Balance, beginning of period

 

45,616

$

6.57

 

96,772

$

5.27

 

142,388

$

5.69

Granted

 

15,274

 

7.08

 

54,011

 

7.06

 

69,285

 

7.06

Forfeited

 

(4,417)

 

5.82

 

(16,559)

 

5.55

 

(20,976)

 

5.61

Vested

 

(29,618)

 

7.43

 

(12,732)

 

8.35

 

(42,350)

 

7.71

Balance, end of period

 

26,855

$

6.02

 

121,492

$

5.70

 

148,347

$

5.76