Share Based Awards (Tables)

12 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

stock option transactions during the years ended March 31, 2017, 2016, and 2015:



	Number of Shares		Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contractual Life (years)	Aggregate Intrinsic Value (in thousands)
Outstanding, March 31, 2014	1,370,101		$	27.85	5.8
Granted	469,650		15.97		7.2
Forfeited/Canceled	203,575		24.85		4.9
Outstanding, March 31, 2015	1,636,176		$	24.82	5.5	$	8
Granted	1,414,000		$	15.51	7.6
Exercised	(800	)	$	15.99	6.2	$	1
Forfeited/Canceled	(572,090	)	$	24.65	4.6
Expired	(30,000	)	$	22.81
Outstanding, March 31, 2016	2,447,286		$	19.55	6.3	$	574
Granted	1,146,500		11.30		7.2
Forfeited/Canceled	(708,371	)	16.86		3.4
Outstanding, March 31, 2017	2,885,415		$	15.41	6.2	$	3,150
Vested and expected to vest, March 31, 2017	2,613,171		$	16.87	6.1	$	2,496
Exercisable, March 31, 2017	812,120		$	22.16	4.7	$	125

Schedule of Share Based Compensation Valuation Assumption

We utilize the Black-Scholes valuation model for estimating the fair value of share-based compensation with the following assumptions:



	Year Ended	Year Ended	Year Ended
	March 31, 2017	March 31, 2016	March 31, 2015
Expected term	6.0 - 6.6 years	3.8 - 3.9 years	4.8 years
Expected volatility	36.9% - 37.4%	38.3% - 41.1%	36.1% - 36.6%
Expected dividends	—%	0.0% - 5.3%	4.3% - 4.4%
Risk-free rate	1.2% - 2.1%	1.1% - 1.6%	1.6% - 1.7%

Summary of stock options granted

During the years ended March 31, 2017, 2016, and 2015, a total of 1,146,500, 1,414,000, and 469,650 options, respectively, to purchase shares of common stock were granted under the 2015 Plan at an exercise price equal to the market price of our common stock on the date of grant, as summarized below:



Option Grant Date	Number of Shares	Exercise Price		Vesting Terms ⁽¹⁾	Expiration
January 31, 2017	90,000	$	15.01	Four years	January 31, 2025
November 1, 2016	50,000	$	12.71	Four years	November 1, 2024
July 11, 2016	150,000	$	12.60	Four years	July 11, 2024
May 31, 2016	100,000	$	12.71	Five years	May 31, 2024
May 25, 2016	216,500	$	12.78	Four years	May 25, 2024
May 24, 2016	540,000	$	12.93	Four years	May 24, 2024
Fiscal year 2017 grants	1,146,500

March 1, 2016	450,000	$	15.60	Four years	March 1, 2024
February 1, 2016	200,000	$	14.20	Four years	February 1, 2024
January 4, 2016	200,000	$	16.85	(2)	January 4, 2024
August 17, 2015	150,000	$	12.80	(3)	August 17, 2023
May 22, 2015	414,000	$	16.64	Five years	May 22, 2023
Fiscal year 2016 grants	1,414,000

March 11, 2015	10,000	$	15.84	Five years	March 11, 2023
September 2, 2014	20,000	$	15.63	Five years	September 2, 2022
June 3, 2014	439,650	$	15.99	Five years	June 3, 2022
Fiscal year 2015 grants	469,650

Schedule of Employee Stock Options and Performance Based Awards by Nonvested Stock options

Non-vested stock option award activity during the years ended March 31, 2017, 2016, and 2015 is summarized as follows:



	Number of Shares		Weighted- Average Grant-Date Fair Value per Share
Non-vested, March 31, 2014	991,560		$	7.73
Granted	469,650		3.50
Vested	(269,785	)	8.24
Forfeited/Canceled	(123,135	)	6.57
Non-vested, March 31, 2015	1,068,290		$	5.81
Granted	1,414,000		4.44
Vested	(311,740	)	5.44
Forfeited/Canceled	(310,800	)	5.45
Non-vested, March 31, 2016	1,859,750		$	4.67
Granted	1,146,500		5.00
Vested	(540,595	)	3.87
Forfeited/Canceled	(392,360	)	4.50
Non-vested, March 31, 2017	2,073,295		$	5.09