Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
 6 Months Ended
Sep. 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 and six months ended September 30, 2017, and 2016: 
 
Three months ended September 30,
 
Six months ended September 30,
(in thousands)
2017
 
2016
 
2017
 
2016
Stock-based compensation expense
$
342

 
$
687

 
$
672

 
$
1,093

Income tax benefit
—

 
—

 
—

 
—

Total stock-based compensation expense, after taxes
$
342

 
$
687

 
$
672

 
$
1,093

Stock option activity
Stock option activity for the six months ended September 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
100,000

 
3.06

 

 

Exercised
—

 
—

 

 

Forfeited
(97,399
)
 
4.38

 

 

Expired
(30,501
)
 
6.83

 

 

Outstanding on September 30, 2017
334,496

 
$
4.32

 
5.1
 
$
12

 
(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 six months ended September 30, 2017: 
 
Shares
 
Weighted-Average
Grant Date Fair
Value
Non-vested as of March 31, 2017
34,375

 
$
4.11

Granted
104,636

 
3.01

Vested
(66,250
)
 
3.30

Forfeited
—

 
—

Non-vested as of September 30, 2017
72,761

 
$
3.26

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

 
$
4.48

Granted
527,000

 
2.84

Vested
(111,954
)
 
5.27

Forfeited
(189,609
)
 
3.79

Non-vested as of September 30, 2017
599,323

 
$
3.10

PSUs
The following table sets forth the PSU activity for the six months ended September 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
40,000

 
2.63

Vested
(2,343
)
 
10.22

Forfeited
(18,864
)
 
2.17

Non-vested as of September 30, 2017 (at target)
94,846

 
$
3.29