Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.7.0.1
Stock-Based Compensation (Tables)
 3 Months Ended
Jun. 30, 2017
Share-based Compensation [Abstract]  
Stock-based compensation expense
The following table is a summary of total stock-based compensation expense resulting from stock options, restricted stock, RSUs and PSUs, during the three months ended June 30, 2017, and 2016: 
 
 
Three months ended June 30,
(in thousands)
 
2017
 
2016
Stock-based compensation expense
 
$
330

 
$
406

Income tax benefit
 
—

 
—

Total stock-based compensation expense, after taxes
 
$
330

 
$
406

Stock option activity
Stock option activity for the three months ended June 30, 2017, is as follows:
 
Shares
 
Weighted-Average
Exercise Price Per
Share
 
Weighted-Average
Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic Value (1) (in
thousands)
Outstanding on March 31, 2017
362,396

 
$
4.89

 
5.4
 
$
39

Granted
—

 
—

 

 

Exercised
—

 
—

 

 

Forfeited
(49,166
)
 
4.08

 

 

Expired
(12,167
)
 
9.88

 

 

Outstanding on June 30, 2017
301,063

 
$
4.83

 
4.9
 
$
45

 
(1) 
The intrinsic value for the stock options is calculated based on the difference between the exercise price of the underlying awards and the Westell Technologies’ closing stock price as of the respective reporting date
Restricted stock activity
Restricted Stock
The following table sets forth restricted stock activity for the three months ended June 30, 2017: 
 
Shares
 
Weighted-Average
Grant Date Fair
Value
Non-vested as of March 31, 2017
34,375

 
$
4.11

Granted
—

 
—

Vested
(3,750
)
 
11.67

Forfeited
—

 
—

Non-vested as of June 30, 2017
30,625

 
$
3.18

RSUs
The following table sets forth the RSU activity for the three months ended June 30, 2017: 
 
Shares
 
Weighted-Average
Grant Date Fair
Value
Non-vested as of March 31, 2017
373,886

 
$
4.48

Granted
465,000

 
2.81

Vested
(58,872
)
 
5.00

Forfeited
(52,917
)
 
4.71

Non-vested as of June 30, 2017
727,097

 
$
3.35

PSUs
The following table sets forth the PSU activity for the three months ended June 30, 2017: 
 
Shares
 
Weighted-Average Grant Date Fair Value
Non-vested as of March 31, 2017 (at target)
76,053

 
$
3.56

Granted, at target
—

 
—

Vested
(2,343
)
 
10.22

Forfeited
(628
)
 
10.22

Non-vested as of June 30, 2017 (at target)
73,082

 
$
3.29