Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v2.4.0.6
Stock-Based Compensation (Tables)
9 Months Ended
Dec. 31, 2012
Share-based Compensation [Abstract]  
Stock-based compensation expense
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