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Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Performance Shares, Activity [Table Text Block]

The following is the performance-based vesting schedule of RSUs under each respective LTIP, subject to the respective participant’s continued employment with KEMET (shares in thousands):



	2020/2021 ⁽¹⁾	2019/2020 ⁽¹⁾	2018/2019 ⁽²⁾	2017/2018 ⁽²⁾
Performance-based award vesting fiscal year 2021	—	99	—	—
Potential performance-based award vesting fiscal year 2022	49	98	—	—
Potential performance-based award vesting fiscal year 2023	49	—	—	—

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⁽¹⁾ Estimated shares to vest based upon current performance expectations. The final number of shares depends on the achievement of performance metrics.

⁽²⁾ The performance portion of the 2018/2019 and 2017/2018 LTIP are payable in cash.

Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block]

The following is the time-based vesting schedule of RSUs under each respective LTIP, subject to the respective participant’s continued employment with KEMET (shares in thousands):



	2020/2021	2019/2020	2018/2019	2017/2018
Time-based award vested fiscal year 2020	—	53	58	156
Time-based award vesting fiscal year 2021	63	50	55	—
Time-based award vesting fiscal year 2022	63	51	—	—
Time-based award vesting fiscal year 2023	65	—	—	—

Schedule of major components of stock-based compensation expense

The major components of stock-based compensation expense are as follows (amounts in thousands):



	Fiscal year ended March 31, 2020				Fiscal year ended March 31, 2019				Fiscal year ended March 31, 2018
	RSUs		LTIPs		RSUs		LTIPs		RSUs		LTIPs
Cost of sales	$	2,185	$	1,658	$	1,502	$	1,254	$	865	$	654
Selling, general and administrative expenses	4,831		2,972		7,338		2,413		4,195		1,695
Research and development	146		292		88		271		46		202
	$	7,162	$	4,922	$	8,928	$	3,938	$	5,106	$	2,551

Schedule of employee stock option activity

Employee stock option activity for fiscal year 2020 is as follows:



	Options (in thousands)		Weighted- Average Exercise Price
Outstanding at April 1, 2019	155		$	6.37
Exercised	(59	)	5.46
Expired	(4	)	4.47
Outstanding and exercisable at March 31, 2020	92		7.04

Remaining weighted average contractual life of options outstanding and exercisable (years)			2.28

Summary of the weighted average assumptions used in the Black-Scholes valuation model to value stock option grants

Amounts included in the following table are in thousands, except weighted average fair value and weighted average exercise price:



	Fiscal Years Ended March 31,
	2020	2019	2018
Intrinsic value
Stock options exercised	963	1,296	6,914
Options outstanding and currently exercisable	1,574	1,644	2,713

Schedule of restricted stock activity

RSU activity, including performance-based and time-based LTIP activity, for fiscal year 2020 is as follows (amounts in thousands except fair value):



	Shares		Weighted- average Fair Value on Grant Date
Non-vested RSUs at April 1, 2019	1,415		$	15.19
Granted	626		21.89
Vested⁽¹⁾	(640	)	12.08
Forfeited	(59	)	18.49
Non-vested RSUs at March 31, 2020	1,342		$	19.66

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⁽¹⁾37,377 in RSUs were settled for $0.4 million in cash.

In the Operating activities section of the Consolidated Statements of Cash Flows, stock-based compensation expense