Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

9 Months Ended

Dec. 31, 2012

The following table is a summary of total stock-based compensation resulting from stock options, restricted stock, and restricted stock units (“RSUs”), excluding the impact of discontinued operations, during the three and nine months ended December 31, 2012 and 2011:



	Three months ended December 31,				Nine months ended December 31,
(in thousands)	2012		2011		2012		2011
Stock-based compensation expense	$	331	$	292	$	1,062	$	918
Income tax expense	—		—		—		—
Total stock-based compensation expense after taxes	$	331	$	292	$	1,062	$	918

Stock option activity

Stock option activity for the nine months ended December 31, 2012 is as follows:



	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	(155,780	)	0.55
Forfeited	(80,440	)	2.06
Expired	(241,410	)	2.90
Outstanding on December 31, 2012	2,116,473		$	2.07	3.0	$	732


(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

The following table sets forth restricted stock activity for the nine months ended December 31, 2012:



	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 December 31, 2012	748,500		$	1.66

RSUs

The following table sets forth the RSU activity for the nine months ended December 31, 2012:



	Shares		Weighted-Average Grant Date Fair Value
Non-vested as of March 31, 2012	500,000		$	3.25
Granted	530,000		2.25
Vested	(100,000	)	3.48
Forfeited	(30,000	)	2.36
Non-vested as of December 31, 2012	900,000		$	2.67

- 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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