XML 47 R33.htm IDEA: XBRL DOCUMENT

Share Based Awards (Tables)

12 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

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

Schedule of Assumptions Used in Black-Scholes Model to Estimate Fair Value of Stock Awards

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, 2019	March 31, 2018	March 31, 2017
Expected term	6.1 - 6.3 years	5.6 - 6.1 years	6.0 - 6.6 years
Expected volatility	34.6% - 36.8%	37.0% - 37.7%	36.9% - 37.4%
Expected dividends	0.0%	0.0%	0.0%
Risk-free rate	2.8% - 3.1%	1.9% - 2.2%	1.2% - 2.1%

Summary of Stock Options Granted

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

Schedule of Employee Stock Options and Performance Based Awards by Non-vested Stock Options

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

Summary of Restricted Stock Awards Activity

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