Annual report pursuant to Section 13 and 15(d)

Capital Stock and Stock Restrictions (Tables)

v3.7.0.1
Capital Stock and Stock Restrictions (Tables)
 12 Months Ended
Mar. 31, 2017
Class of Stock [Line Items]  
Schedule of Stock by Class [Table Text Block]
The Company’s Common Stock is divided into two classes. Class A Common Stock is entitled to one vote per share, while Class B Common Stock is entitled to four votes per share. As of May 12, 2017, Robert C. Penny III, Robert W. Foskett and Patrick J. McDonough, Jr., as trustees of the Voting Trust containing common stock held for the benefit of the Penny family, have the exclusive power to vote over 49.8% of the votes entitled to be cast by the holders of the Company's common stock. Certain Penny family members also own, or are beneficiaries of, trusts that own shares outside of the Voting Trust. Messrs. Penny, Foskett and McDonough, as trustees of the Voting Trust and other trusts, control 53.8% of the voting power of the Company’s outstanding stock and therefore effectively control the Company.
Shares Issued and Outstanding
The following table summarizes Common Stock transactions for fiscal years 2016 and 2017:
 
Common Shares Outstanding
 
 
(in thousands)
Class A
 
Class B
 
Treasury Shares
Total shares outstanding, March 31, 2015
46,839

 
13,937

 
(17,467
)
Purchases of Treasury Stock
(94
)
 
—

 
(94
)
Restricted stock grants, including conversion of certain RSUs and PSUs, net of forfeitures
440

 
—

 
—

Total shares outstanding, March 31, 2016
47,185


13,937

 
(17,561
)
Purchases of Treasury Stock
(201
)
 
—

 
(201
)
Restricted stock grants, including conversion of certain RSUs and PSUs, net of forfeitures
1,076

 
—

 
—

Total shares outstanding, March 31, 2017
48,060

 
13,937

 
(17,762
)