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Share-based Payments (Tables)
 9 Months Ended
Dec. 31, 2022
Share-based Payments [Abstract]  
Stock Option Transactions
The following is a summary of stock option transactions:

 
  
Number of
Shares
    
Weighted Average
Exercise Price
  
Outstanding at March 31, 2022
    
1,695,499
    
$
17.53
  
Granted
    
-
    
$
-
  
Exercised
    
(323,249
)
  
$
6.68
  
Forfeited/Cancelled
    
(101,257
)
  
$
18.62
  
Expired
     (3,000 )   $ 9.85  
Outstanding at December 31, 2022
    
1,267,993
    
$
20.22
  
Restricted Stock Units Activity
The following is a summary of non-vested RSUs:

 
  
Number of
Shares
    
Weighted Average
Grant Date Fair
Value
  
Outstanding at March 31, 2022
    
399,063
    
$
19.98
  
Granted
    
329,121
    
$
13.46
  
Vested
    
(228,519
)
  
$
20.08
  
Forfeited/Cancelled
    
(64,921
)
  
$
19.39
  
Outstanding at December 31, 2022
    
434,744
    
$
15.08
  
Monte Carlo Valuation Model Assumptions used in Determining Fair Value of TSR Awards
The following table summarizes the assumptions used in determining the fair value of the TSR awards:


  
Nine Months Ended
December 31,
  
 
  
2022
     2021
  
Risk free interest rate
  

3.35
%
     0.47 %
Expected life in years
    
3
       3  
Expected volatility of MPA common stock
    
51.30
%
     53.70 %
Expected average volatility of peer companies
    
62.70
%
     59.30 %
Average correlation coefficient of peer companies
    
27.50
%
     26.70
Expected dividend yield
    
-
       -  
Grant date fair value
  
$
16.02
      $ 26.89  
Performance Stock Units Activity
The following is a summary of non-vested PSUs:

 
  
Number of
Shares
    
Weighted Average
Grant Date Fair
Value
  
Outstanding at March 31, 2022
    
84,593
    
$
23.19
  
Granted
    
126,028
    
$
14.00
  
Vested
    
-
    
$
-
  
Forfeited
    
(15,482
)
  
$
20.01
  
Outstanding at December 31, 2022
    
195,139
    
$
17.51