Share Repurchases (Notes) |
9 Months Ended |
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Dec. 31, 2017 | |
| Payments for Repurchase of Equity [Abstract] | |
| Share Repurchases |
Share Repurchases
In May 2017, the Board of Directors authorized a new share repurchase program whereby the Company may repurchase up to an aggregate of $2.0 million of its outstanding Class A Common Stock (the 2017 authorization). The 2017 authorization is in addition to the $0.1 million that was remaining from the August 2011 $20.0 million authorization (the 2011 authorization). There were 133,608 shares repurchased under the 2011 and 2017 authorizations during the nine months ended December 31, 2017 at a weighted average purchase price of $2.98 per share. There were no shares repurchased under the 2011 authorization during the nine months ended December 31, 2016. There was approximately $1.7 million remaining for additional share repurchases under the 2017 authorization as of December 31, 2017.
Additionally, in the nine months ended December 31, 2017, and December 31, 2016, the Company repurchased 54,572 and 44,005 shares of Class A Common Stock, respectively, from certain employees that were surrendered to satisfy the minimum statutory tax withholding obligations on the vesting of restricted stock, RSUs and PSUs. These repurchases were not included in the authorized share repurchase programs and had a weighted-average purchase price of $2.89 and $3.32 per share, respectively.
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