Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
 9 Months Ended
Dec. 31, 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 nine months ended December 31, 2017, and 2016: 
 
Three months ended December 31,
 
Nine months ended December 31,
(in thousands)
2017
 
2016
 
2017
 
2016
Stock-based compensation expense
$
316

 
$
253

 
$
988

 
$
1,346

Income tax benefit
—

 
—

 
—

 
—

Total stock-based compensation expense, after taxes
$
316

 
$
253

 
$
988

 
$
1,346

Stock option activity
Stock option activity for the nine months ended December 31, 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
(199,483
)
 
3.72

 

 

Expired
(61,018
)
 
5.82

 

 

Outstanding on December 31, 2017
201,895

 
$
4.86

 
4.6
 
$
76

 
(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 nine months ended December 31, 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 December 31, 2017
72,761

 
$
3.26

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

 
$
4.48

Granted
552,000

 
2.89

Vested
(137,162
)
 
5.05

Forfeited
(239,193
)
 
3.64

Non-vested as of December 31, 2017
549,531

 
$
3.11

PSUs
The following table sets forth the PSU activity for the nine months ended December 31, 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

 
3.06

Vested
(49,686
)
 
2.30

Forfeited
(58,867
)
 
2.79

Non-vested as of December 31, 2017 (at target)
7,500

 
$
15.30