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TREASURY STOCK
12 Months Ended
Mar. 31, 2017
Equity [Abstract]  
TREASURY STOCK
TREASURY STOCK
On April 22, 2014, the Company's board of directors approved a stock repurchase program. This program authorized management to make repurchases of NetScout outstanding common stock of up to $100 million. Through March 31, 2016, the Company had repurchased 824,452 shares totaling $34.3 million in the open market under this stock repurchase plan. The Company repurchased 67,752 shares for $2.8 million and 756,700 shares for $31.5 million under the program during the fiscal years ended March 31, 2016 and 2015, respectively.
On May 19, 2015, the Company’s board of directors approved a new share repurchase program, conditional upon the completion of the Comms Transaction. This program enables the Company to repurchase up to 20 million shares of its common stock. This plan became effective on July 14, 2015 upon the completion of the Comms Transaction and replaced the Company's previously existing open market stock repurchase program described above. The Company is not obligated to acquire any specific amount of common stock within any particular timeframe under this program. The Company repurchased 3,148,426 shares for $80.0 million and 10,078,136 shares for $300.0 million in the open market under this stock repurchase plan during the fiscal years ended March 31, 2017 and 2016, respectively. At March 31, 2017, 6,773,438 shares of common stock remained available to be purchased under the plan.
In connection with the vesting and release of the restriction on previously vested shares of restricted stock, the Company repurchased 320,572 shares for $9.6 million, 256,514 shares for $9.1 million and 247,568 shares for $10.8 million related to minimum statutory tax withholding requirements on these restricted stock units during the fiscal years ended March 31, 2017, 2016 and 2015, respectively. These repurchase transactions do not fall under the repurchase program described above, and therefore do not reduce the amount that is available for repurchase under that program.