Employee Stock Purchase Plan

12 Months Ended

Mar. 31, 2023

Text Block [Abstract]

Employee Stock Purchase Plan

Note 7 — Employee Stock Purchase Plan

The Company maintains an Employee Stock Purchase Plan (as amended, “ESPP”) which allows employees of the Company and its subsidiaries to purchase shares of common stock on the last day of two six-month purchase periods (i.e. March 31 and September 30) at a purchase price which is 95% of the closing sale price of shares as quoted on NASDAQ on the last day of such purchase period. Employees are allowed to contribute up to 20% of their gross pay. A maximum of 2,850,000 shares have been authorized for issuance under the ESPP. As of March 31, 2023, 2,500,392 shares had been issued pursuant to the ESPP. Summarized ESPP information is as follows:

	2023		2022		2021
Employee contributions	$	676,000	$	564,000	$	534,000
Shares acquired		4,457		3,363		6,007
Average purchase price	$	151.63	$	167.71	$	88.85