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Share Based Awards (Tables)
 6 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
The following table summarizes the stock option transactions during the six months ended September 30, 2017:
 
 
Number of
Shares
 
Weighted-
Average
Exercise
Price
per Share
 
Weighted-
Average
Remaining
Contractual
Life (years)
 
Aggregate
Intrinsic
Value
(in thousands)
Outstanding, April 1, 2017
 
2,885,415

 
$
15.41

 
6.2
 
$
3,150

Granted
 
334,000

 
16.03

 
7.7
 
 
Exercised
 
(216,405
)
 
16.62

 
6.2
 
$
119

Forfeited/Canceled
 
(310,775
)
 
17.75

 
5.1
 


Outstanding, September 30, 2017
 
2,692,235

 
$
16.44

 
6.0
 
$
4,012

Vested and expected to vest, September 30, 2017
 
2,440,400

 
$
16.64

 
5.9
 
$
2,885

Exercisable, September 30, 2017
 
921,280

 
$
20.10

 
4.6
 
$
768
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:
 
Three Months Ended September 30,
 
Six Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Expected term
5.6 years
 
6.6 years
 
5.6 - 5.7 years
 
6.0 - 6.6 years
Expected volatility
37.2%
 
36.9%
 
37.2% - 37.7%
 
36.9% - 37.4%
Expected dividends
—%
 
—%
 
—%
 
—%
Risk-free rate
1.9%
 
1.2%
 
1.9%
 
1.2% - 1.5%
Summary of stock options granted
During the six months ended September 30, 2017, a total of 334,000 options to purchase shares of common stock were granted under the Amended 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

 

 

 

 

June 13, 2017
 
249,000

 
$
16.37

 
Four years
 
June 13, 2025
May 24, 2017
 
60,000

 
$
14.57

 
Four years
 
May 24, 2025
August 4, 2017
 
25,000

 
$
16.13

 
Four years
 
August 4, 2025
Schedule of Employee Stock Options and Performance Based Awards by Nonvested Stock options
Non-vested stock option award activity during the six months ended September 30, 2017 is summarized as follows:
 
 
Non-Vested
Number of
Shares
 
Weighted-
Average
Grant-Date
Fair Value
per Share
Outstanding, April 1, 2017
 
2,073,295

 
$
5.09

Granted
 
334,000

 
6.11

Vested
 
(430,190
)
 
4.86

Forfeited/Canceled
 
(206,150
)
 
4.57

Outstanding, September 30, 2017
 
1,770,955

 
$
4.98
Schedule of Other Share-based Compensation, Activity [Table Text Block]
Restricted stock awards activity during the six months ended September 30, 2017 is summarized as follows:
 
 
Number of
Shares
 
Weighted-
Average
Grant-Date
Fair Value
per Share
Outstanding, April 1, 2017
 
902,948

 
$
12.92

Granted
 
1,081,374

 
15.57

Vested
 
(288,304
)
 
12.57

Canceled
 
(77,016
)
 
13.81

Outstanding, September 30, 2017
 
1,619,002

 
$
14.79