In October 2005, our shareholders approved a stock option and incentive plan (the “2005 Plan”) under which 4,800,000 shares of common stock were reserved for the issuance of awards, including incentive stock options and non-qualified stock options, stock appreciation rights, restricted stock, unrestricted stock, restricted stock units, performance shares, performance units (including performance options) and other share-based awards. The 2005 Plan provides that our employees and directors may, at the discretion of the Board or a duly designated compensation committee, be granted certain share-based awards. In the case of option awards granted under the 2005 Plan, the exercise price of each option is determined based on the date of grant and expire no later than 10 years from the date of grant. Awards granted pursuant to the 2005 Plan are subject to the vesting schedule or performance metrics set forth in the agreements pursuant to which they are granted. Upon a change of control of our Company, as such term is defined in the 2005 Plan, awards under the 2005 Plan will fully vest under certain circumstances. The 2005 Plan expired on May 25, 2015. As of March 31, 2019, there were 349,320 outstanding options under the 2005 Plan.

In August 2015, our shareholders approved a stock option and incentive plan (the “2015 Plan”) under which 11,500,000 shares of common stock were reserved for the issuance of awards, including incentive stock options and non-qualified stock options, stock appreciation rights, restricted stock awards and restricted stock unit awards, performance stock awards and other share-based awards. In August 2017, our shareholders approved an amendment to the 2015 Plan, (the “Amended 2015 Plan”), to, among other items, increase the number of shares of common stock reserved for issuance thereunder by 6,000,000. The Amended 2015 Plan provides that our employees and directors may, at the discretion of the Board or a duly designated compensation committee, be granted certain share-based awards. In the case of option awards granted under the Amended 2015 Plan, the exercise price of each option is determined based on the date of grant and expire no later than 10 years from the date of grant. Awards granted pursuant to the Amended 2015 Plan are subject to the vesting schedule or performance metrics set forth in the agreements pursuant to which they are granted. Upon a change of control of our Company, as such term is defined in the Amended 2015 Plan, awards under the Amended 2015 Plan will fully vest under certain circumstances. As of March 31, 2019, there were 2,817,205 outstanding options, 1,715,958 outstanding shares of restricted stock awards, 46,374 outstanding shares of performance stock awards, and 6,110,719 shares available for future grant under the Amended 2015 Plan.

The following table summarizes the stock option transactions during the years ended March 31, 2019, 2018, and 2017:

				Weighted-		Weighted-
				Average		Average		Aggregate
				Exercise		Remaining		Intrinsic
Employee Stock Options Summary	Number of			Price		Contractual		Value
	Shares			per Share		Life (years)		(in thousands)
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
Granted		1,479,000			14.56		7.5
Exercised		(216,405	)		16.62		5.8	$	119
Forfeited/Canceled		(477,840	)		18.90		3.1
Outstanding, March 31, 2018		3,670,170			15.51		6.2	$	766
Granted		326,130			16.40		6.8
Exercised		(375,645	)		15.49		4.7	$	1,589
Forfeited/Canceled		(451,730	)		18.00		4.9
Expired		(2,400	)		28.15
Outstanding, March 31, 2019		3,166,525		$	15.36		5.5	$	7,040
Vested and expected to vest, March 31, 2019		2,856,491		$	15.43		5.5	$	6,352
Exercisable, March 31, 2019		1,320,670		$	16.22		4.7	$	2,942

Share-based compensation expense related to stock options was $3,936, $2,953, and $3,496 for the years ended March 31, 2019, 2018, and 2017, respectively.

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

During the years ended March 31, 2019, 2018, and 2017, a total of 326,130, 1,479,000, and 1,146,500 options, respectively, 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
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

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
October 31, 2017		915,000	$	14.07	Four Years	October 31, 2025
December 4, 2017		230,000	$	14.38	Four Years	December 4, 2025
Fiscal year 2018 grants		1,479,000

May 30, 2018		241,130	$	16.83	Four Years	June 1, 2026
August 3, 2018		60,000	$	21.27	Four Years	August 3, 2026
November 2, 2018		25,000	$	15.09	Four Years	November 2, 2026
Fiscal year 2019 grants		326,130

⁽¹⁾	Unless otherwise indicated, options vest in equal annual installments on each grant anniversary date commencing one year following the date of grant

The weighted-average grant date fair value of stock options granted during the years ended March 31, 2019, 2018, and 2017 was $7.18, $5.59, and $5.00 per share, respectively.

Non-vested stock option award activity during the years ended March 31, 2019, 2018, and 2017 is summarized as follows:

				Weighted-
				Average
				Grant-Date
Non-Vested Stock Option Award Summary	Number of			Fair Value
	Shares			per Share
Outstanding, 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
Outstanding, March 31, 2017		2,073,295		$	5.09
Granted		1,479,000			5.59
Vested		(621,440	)		4.92
Forfeited/Canceled		(273,850	)		4.57
Outstanding, March 31, 2018		2,657,005		$	5.18
Granted		326,130			7.18
Vested		(778,900	)		5.12
Forfeited/Canceled		(358,380	)		5.36
Outstanding, March 31, 2019		1,845,855		$	5.52

As of March 31, 2019, $8,074 of total unrecognized compensation costs related to stock options is expected to be recognized over a weighted-average period of 2.3 years. This amount does not include the cost of new options that may be granted in future periods or any changes in our forfeiture percentage. The total fair value of options vested during the years ended March 31, 2019, 2018, and 2017 was $3,985, $3,059, and $2,090, respectively.

Restricted stock awards activity during the years ended March 31, 2019, 2018, and 2017 is summarized as follows:

				Weighted-
				Average
				Grant-Date
Restricted Stock	Number of			Fair Value
	Shares			per Share
Outstanding, March 31, 2016		191,247		$	14.44
Granted		909,456			12.93
Vested		(92,543	)		15.25
Canceled		(105,212	)		13.00
Outstanding, March 31, 2017		902,948		$	12.92
Granted		1,424,441			15.00
Vested		(386,226	)		14.26
Canceled		(120,253	)		14.29
Outstanding, March 31, 2018		1,820,910		$	14.52
Granted		885,845			18.14
Vested		(642,695	)		14.63
Canceled		(348,102	)		14.79
Outstanding, March 31, 2019		1,715,958		$	16.29

Share-based compensation expense related to restricted stock awards was $10,875, $8,536, and $3,691 for the years ended March 31, 2019, 2018, and 2017, respectively.

The weighted-average grant date fair value for the restricted stock awards was estimated using the market price of the common stock on the date of grant. The fair value of the restricted stock awards is amortized on a straight-line basis over the vesting period, which is between one and four years.

As of March 31, 2019, $19,962 of total unrecognized compensation costs related to restricted stock awards is expected to be recognized over a weighted-average period of 1.8 years. This amount does not include the cost of new restricted stock awards that may be granted in future periods.

On December 29, 2016, the Compensation Committee of the Board granted 123,082 performance stock awards to certain executive officers, of which 46,374 shares are currently outstanding. The performance stock awards vest in four equal increments on each of the first four anniversaries of the grant date, subject in each case to the executive officer’s continued service and achievement of certain performance goals, including strong stock price performance. Share-based compensation expense related to the performance stock awards was $276 for the fiscal year ended March 31, 2019. As of March 31, 2019, $425 of total unrecognized compensation costs related to performance stock awards is expected to be recognized over a weighted-average period of 1.8 years. This amount does not include the cost of new performance stock awards that may be granted in future periods.

On October 23, 2018, the Compensation Committee of the Board approved 248,140 performance stock unit awards to be granted to certain executives and non-executive members of the executive leadership team, which vest only in the event certain performance goals are achieved and with continuous service through the date the goals are certified. Approximately 34% of the performance stock units are tied to our cumulative 3-year total shareholder return, 33% are tied to our fiscal year 2021 revenue, and 33% are tied to our fiscal year 2021 adjusted earnings per share goals, each as specifically defined in the equity award agreements. The number of shares to be issued may vary between 50% and 200% of the number of performance stock units depending on performance, and no such shares will be issued if threshold performance is not achieved. Share-based compensation expense related to the performance stock unit awards was $534 for the year ended March 31, 2019.

On August 11, 2014, our shareholders approved an Employee Share Purchase Plan (the “Purchase Plan”) under which 4,000,000 shares of common stock were reserved for future grant. The Purchase Plan allows eligible employees to purchase shares through payroll deductions of up to 15% of total base salary at a price equal to 90% of the lower of the fair market values of the shares as of the beginning or the end of the corresponding offering period. Any shares purchased under the Purchase Plan are subject to a six-month holding period. Employees are limited to purchasing no more than 1,500 shares on any single purchase date and no more than $25,000 in total fair market value of shares during any one calendar year. As of March 31, 2019, we have issued 464,608 shares under the Purchase Plan and 3,535,392 shares are available for future issuance.

Share-based compensation expense recorded for the employee share purchase plan was $481, $362, and $359 for the years ended March 31, 2019, 2018, and 2017, respectively.