Stock-Based Compensation

9 Months Ended

Dec. 31, 2012

Share-based Compensation [Abstract]

Stock-Based Compensation

Stock-Based Compensation

The following table summarizes our stock based grants in Fiscal 2013:

	Three Months Ended		Nine Months Ended
	December 31, 2012		December 31, 2012
Option grants(1):
Shares granted from 2011 Incentive Plan	—		893,674
Fair market value on date of grant - high	$	—	$	20.18
Fair market value on date of grant - low	$	—	$	16.97
Expiration period, in years			10
Vesting period, in years			5
Compensation information related to options granted in period(2) (in thousands):
Total valuation, recognized over vesting period	$	—	$	8,284
Total expected expense to be recognized in Fiscal 2013	$	—	$	1,671
Expense recognized as a component of selling and administrative expense	$	—	$	1,241
Expense capitalized in property and equipment, net (3)	$	—	$	168
DSUs:
DSUs granted from 2011 Incentive Plan to non-executive directors	—		34,014
Vesting period, in months			11
Compensation information related to DSUs granted in period (in thousands):
Total fair market value, recognized over vesting period	$	—	$	600
Total expected expense to be recognized in Fiscal 2013	$	—	$	382
Expense recognized as a component of selling and administrative expense	$	—	$	218

(1) Shares granted and compensation expense amounts for nine month period are shown net of cancellations.

(2) Compensation amounts based on Black-Scholes valuations.

(3) Amounts capitalized in accordance with our policies related to Capitalized Software as described in Note 2 of Notes to Consolidated Financial Statements in the Form 10-K.

Cancellation of Performance-Based Stock Options

During the first quarter of Fiscal 2013, the Compensation Committee of our Board of Directors determined that performance requirements relating to vesting of certain stock-based awards would not be achieved. Accordingly, 47,450 performance-based stock option awards were canceled at the direction of our Board of Directors. The cancellation of these awards had no effect on our results of operations.

Amendment to Stock-Based Award Agreement

In October 2012, the expiration date of a restricted stock unit (“RSU”) award granted to an executive officer was extended by two years. The fair value of the modification to the RSU award was $0.4 million, based on a Monte Carlo simulation and will be recognized over the requisite service period. Approximately $0.1 million related to this modification will be recognized in Fiscal 2013, of which $44,000 was recognized during the third quarter of Fiscal 2013. We allocated $26,000 of that cost to selling and administrative expense and capitalized the remainder as part of IT development costs associated with our AMI Essentials™ lines of business.