Annual report pursuant to Section 13 and 15(d)

13. Stock-Based Compensation (Tables)

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13. Stock-Based Compensation (Tables)
12 Months Ended
Mar. 31, 2013
Stock-Based Compensation Tables  
Options and restricted stock units outstanding

Options and restricted stock units outstanding at March 31, 2013 under the various plans is as follows (in thousands):

 

Plan   Total
Number of
Options and
Restricted
Stock Units
Outstanding
in Plan
 
1999 Plan     1  
2000 Plan      
2003 Plan     21  
2004 Plan     66  
2006 Plan     887  
2011 Plan      
      975  
Summary of all option activity

A summary of activity under all option plans for the years ended March 31, 2013 and 2012 is presented below (in thousands, except per share data):

 

    Number of
Shares
    Weighted-
Average
Exercise Price
    Weighted-
Average
Contractual Term
    Aggregate
Intrinsic
Value
 
Outstanding at March 31, 2011     628       20.72                  
Options granted     310       11.20                  
Options exercised     (19 )     2.87                  
Options forfeited or expired     (24 )     32.27                  
Outstanding at March 31, 2012     895       16.52                  
Options granted     124       6.41                  
Options exercised     (10 )     5.53                  
Options forfeited or expired     (34 )     24.38                  
Outstanding at March 31, 2013     975     $ 15.08       6.49     $ 16  
Exercisable at March 31, 2013     805     $ 16.32       6.00     $ 16  
Options available for grant as of March 31, 2013     951                          

 

Employee stock-based compensation expense

Employee stock-based compensation expense is as follows (in thousands, except per share amounts):

 

    Employee
Stock-based
Compensation
for the Year Ended
March 31, 2013
    Employee
Stock-based
Compensation
for the Year Ended
March 31, 2012
 
Cost of revenues   $ 132     $ 113  
Research and development     231       278  
Selling, general and administrative     791       1,780  
Total stock-based compensation   $ 1,154     $ 2,171  
Fair value of employee stock options

The fair value of employee stock options was estimated using the following weighted-average assumptions:

 

    Year Ended March 31,  
    2013     2012  
Fair value of common stock on date of grant   $ 6.41     $ 11.22  
Expected Term     5.80 yrs       5.75 yrs  
Risk-free interest rate     0.72%       1.27%  
Dividend yield     0.00%       0.00%  
Volatility     88.0%       83.5%