Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

6 Months Ended

Sep. 30, 2012


	Three months ended September 30,				Six months ended September 30,
(in thousands)	2012		2011		2012		2011
Stock-based compensation expense	$	350	$	314	$	731	$	626
Income tax expense		—		—		—		—

Total stock-based compensation expense after taxes	$	350	$	314	$	731	$	626

Stock option activity


	Shares			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (a) (in thousands)
Outstanding on March 31, 2012		2,254,103		$	2.04		3.3	$	1,483
Granted		340,000			2.15
Exercised		(22,240	)		1.28
Forfeited		(18,440	)		1.84
Expired		(127,950	)		3.27

Outstanding on September 30, 2012		2,425,473		$	2.00		3.2	$	1,218

(a)	The intrinsic value for the stock options is calculated based on the difference between the exercise price of the underlying awards and the average of the high and low Westell Technologies’ stock price as of the reporting date.

Restricted stock activity


	Shares			Weighted-Average Grant Date Fair Value
Non-vested as of March 31, 2012		1,045,000		$	1.54
Granted		70,000			2.36
Vested		(342,500	)		1.46
Forfeited		(24,000	)		1.43

Non-vested as of September 30, 2012		748,500		$	1.66

RSUs

The following table sets forth the RSU activity for the six months ended September 30, 2012:


	Shares			Weighted-Average Grant Date Fair Value
Non-vested as of March 31, 2012		500,000		$	3.25
Granted		460,000			2.30
Vested		(100,000	)		3.48
Forfeited		(30,000	)		2.36

Non-vested as of September 30, 2012		830,000		$	2.72

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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