Note 11 - Stock Plans

6 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Equity [Text Block]

Note 11. Stock Plans

In May 2019, the Company’s Board of Directors (“Board”) authorized a stock repurchase program allowing for the repurchase of up to $8.0 million of the Company’s outstanding shares of common stock in open market purchases, privately negotiated transactions, or through other structures in accordance with applicable federal securities laws. The authorization was effective immediately.

The timing and actual number of shares will depend on a variety of factors, including stock price, corporate and regulatory requirements and other market and economic conditions. The Company’s stock repurchase program may be suspended or discontinued at any time.

In August 2019, the Company’s Board authorized an additional repurchase of up to $1.0 million of the Company’s outstanding shares.

On September 5, 2024, the Company settled in cash with the dissenting shareholders to repurchase the 652,249 Dissenting Shares at a price per share of $8.63, or $5.6 million (as discussed in Note 2). The Dissenting Shares were retained by the Company to be included within treasury stock.

Beginning during the three months ended June 30, 2025, the Company began settling certain share-based compensation amounts due through the reissuance of treasury shares rather than issuing new shares of common stock. Treasury shares are reissued at historical cost, with the Company applying a last-in, first out method to determine cost. After reissuing treasury shares at their historical cost, the share-based compensation is settled by issuing the related shares of common stock at their respective fair values, with the difference between the treasury shares reissued at historical cost and the fair values of the shares of common stock issued to settle the share-based compensation being recognized within Additional paid-in capital.  This activity is reflected in the consolidated statements of redeemable non-controlling interest and shareholders' equity and as a non-cash financing activity in the consolidated statements of cash flows.

The table below summarizes treasury share transactions for the Company:

	Three Months Ended September 30,
	2025						2024
	Number of Shares			Amount			Number of Shares		Amount
Treasury shares at the beginning of period		6,008		$	(82,321	)		5,368	$	(76,794	)
Treasury shares purchased		-			-			652		(5,629	)
Treasury shares reissued		(47	)		394			-		-
Treasury shares at the end of period		5,961		$	(81,927	)	$	6,020	$	(82,423	)

	Six Months Ended September 30,
	2025						2024
	Number of Shares			Amount			Number of Shares		Amount
Treasury shares at the beginning of period		6,020		$	(82,423	)		5,368	$	(76,794	)
Treasury shares purchased		-			-			652		(5,629	)
Treasury shares reissued		(59	)		496			-		-
Treasury shares at the end of period		5,961		$	(81,927	)	$	6,020	$	(82,423	)