Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.21.2
Stock-Based Compensation
6 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation

 

Note 9. Stock-Based Compensation

 

Stock-based compensation expense is as follows: 

                               
    Three Months Ended September 30,     Six Months Ended September 30,  
(In thousands)   2021     2020     2021     2020  
Cost of revenues   $     $ (6 )   $     $ (27 )
Research and development           40             26  
Selling, general and administrative     55       126       114       224  
Total stock-based compensation   $ 55     $ 160     $ 114     $ 223  

 

At September 30, 2021, there were unrecognized compensation costs of $497,000 related to stock options which is expected to be recognized over a weighted-average amortization period of 2.27 years.

 

At September 30, 2021, there were no unrecognized compensation costs related to restricted stock.

 

Stock options award activity is as follows: 

                               
    Number of
Shares
    Weighted-
Average
Exercise Price
    Weighted-
Average
Contractual Term
    Aggregate
Intrinsic
Value
 
Outstanding at April 1, 2021     267,569     $ 25.16              
Options granted                        
Options exercised     (44,042 )     4.38             154,597  
Options forfeited     (3,500 )     8.03              
Options expired     (13,268 )     87.48              
Outstanding at September 30, 2021     206,759     $ 25.88       7.70     $ 52,023  
Exercisable at September 30, 2021     86,928     $ 50.48       5.53     $ 52,023  

 

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the underlying stock options and the fair value of the Company’s common stock, or $5.58 per share at September 30, 2021.

 

Restricted stock award activity is as follows: 

               
   

Number of

Shares

   

Weighted

Average Award

Date Fair Value

per Share

 
Unvested restricted stock awards outstanding at April 1, 2021     833     $ 13.68  
Restricted stock awards granted            
Restricted stock awards vested     833       13.68  
Restricted stock awards forfeited            
Unvested restricted stock awards outstanding at September 30, 2021         $  

 

The Company did not capitalize any cost associated with stock-based compensation.

 

The Company issues new shares of common stock upon exercise of stock options or release of restricted stock awards.

 

The Company issues new shares of common stock upon exercise of stock-based awards.