Stock-Based Compensation (Tables)
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6 Months Ended |
Sep. 30, 2016 |
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| Stockholders' Equity. |
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| Summary of stock-based compensation expense by statement of operations line item |
The following table summarizes, by statement of operations line item, stock-based compensation expense for the three and six months ended September 30, 2016 and 2015 (in thousands):
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Three Months Ended
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Six Months Ended
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September 30,
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September 30,
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2016
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2015
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2016
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2015
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Cost of goods sold
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$
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14
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$
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35
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$
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29
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$
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69
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Research and development
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13
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24
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16
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10
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Selling, general and administrative
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214
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326
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434
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769
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Stock-based compensation expense
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$
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241
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$
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385
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$
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479
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$
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848
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| Summary of stock option activity |
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Weighted-
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Average
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Weighted-
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Remaining
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Aggregate
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Average
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Contractual
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Intrinsic
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Shares
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Exercise Price
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Term
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Value
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(in years)
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Options outstanding at March 31, 2016
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467,631
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$
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22.68
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Granted
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88,930
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$
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1.70
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Exercised
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—
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$
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—
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Forfeited, cancelled or expired
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(91,295)
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$
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26.00
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Options outstanding at September 30, 2016
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465,266
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$
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18.02
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4.1
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—
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Options fully vested at September 30, 2016 and those expected to vest beyond September 30, 2016
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465,266
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$
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18.02
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4.1
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—
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Options exercisable at September 30, 2016
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376,336
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$
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21.87
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2.7
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—
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| Schedule of weighted-average assumptions used to calculate the estimated fair value of each stock option |
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Three Months Ended
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Six Months Ended
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September 30,
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September 30,
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2016
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2015
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2016
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2015
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Risk-free interest rates
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1.3
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%
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—
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1.3
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%
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1.5
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%
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Expected lives (in years)
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5.7
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—
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5.7
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5.7
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Dividend yield
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—
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%
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—
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—
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%
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—
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%
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Expected volatility
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133.9
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%
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—
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133.9
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%
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59.0
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%
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Weighted average grant date fair value of options granted during the period
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$
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1.52
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$
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—
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$
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1.52
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$
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6.80
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| Summary of restricted stock unit activity |
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Weighted
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Average Grant
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Date Fair
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Restricted Stock and Performance Restricted Stock Units
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Shares
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Value
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Nonvested restricted stock units outstanding at March 31, 2016
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256,787
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$
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6.53
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Granted
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209,259
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1.71
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Vested and issued
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(63,962)
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11.50
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Repurchase
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(6,228)
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6.20
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Forfeited
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(33,264)
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7.05
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Nonvested restricted stock units outstanding at September 30, 2016
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362,592
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2.83
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Restricted stock units expected to vest beyond September 30, 2016
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362,581
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$
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2.83
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| Schedule of additional information on restricted stock units |
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Three Months Ended
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Six Months Ended
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September 30,
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September 30,
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2016
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2015
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2016
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2015
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Restricted stock compensation expense (in thousands)
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$
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188
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$
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217
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$
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375
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$
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511
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Aggregate fair value of restricted stock units vested and issued (in thousands)
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$
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85
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$
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142
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$
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107
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$
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340
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Weighted average grant date fair value of restricted stock units granted during the period
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$
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1.71
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$
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7.20
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$
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1.71
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$
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9.20
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| Schedule of restricted stock award activity |
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Three Months
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Six Months Ended
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September 30,
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September 30,
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2016
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2015
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2016
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2015
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Restricted stock awards compensation expense (in thousands)
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$
|
50
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$
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33
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$
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101
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$
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63
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Restricted stock awards granted
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29,910
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4,223
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62,111
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7,681
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Weighted average grant date fair value of restricted stock awards granted during the period
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$
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1.69
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$
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7.80
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$
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1.63
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$
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8.20
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| Schedule of nonqualified common stock options and restricted stock units issued outside of the 2000 Plan |
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Outside of 2000 Plan
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Options
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RSUs
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President and Chief Executive Officer
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100,000
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—
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Executive Vice President of Sales and Marketing
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42,500
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—
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Vice President, Manufacturing
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88,930
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14,820
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Former Vice President of Operations
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5,729
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—
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Outstanding stock outside of 2000 Plan
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237,159
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14,820
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