STOCK BASED COMPENSATION

3 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

NOTE 14 - STOCK BASED COMPENSATION

Our board of directors, upon the recommendation of the previously constituted compensation committee of our board of directors, approved the 2016 TechPrecision Equity Incentive Plan, or the 2016 Plan, on November 10, 2016. Our stockholders approved the 2016 Plan at the Company’s Annual Meeting of Stockholders on December 8, 2016, and it applies to awards granted after that date. The 2016 Plan provides for a share reserve of 5,000,000 shares of common stock.

At June 30, 2018, there were 1,607,332 shares available for grant under the 2016 Plan. The following table summarizes information and option activity for the three months ended June 30, 2018:   

	Number Of			Weighted Average		Aggregate Intrinsic		Weighted Average Remaining Contractual Life
	Options			Exercise Price		Value		(in years)
Outstanding at 3/31/2018		3,394,668		$	0.417	$	698,200		6.72
Canceled		(2,000	)	$	1.960		—		—
Outstanding at 6/30/2018		3,392,668		$	0.416	$	1,102,600		6.72
Vested or expected to vest at 6/30/2018		3,392,668		$	0.416	$	1,102,600		6.72
Exercisable and vested at 6/30/2018		3,342,000		$	0.413	$	1,098,100		6.72

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price on the last trading day of the first quarter of fiscal 2019 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on June 30, 2018. This amount changes based on the fair market value of the Company’s common stock.

The total fair value of shares vested during the period was $24,930. The following table summarizes the status of our stock options outstanding but not vested for the three months ended June 30, 2018:  

	Number of Options			Weighted Average Exercise Price
Outstanding at 3/31/2018		100,000		$	0.60
Vested		(50,000	)	$	0.60
Outstanding at 6/30/2018		50,000		$	0.60

Other information relating to stock options outstanding at June, 30, 2018 is as follows: 

Range of Exercise Prices:	Options Outstanding		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price		Options Exercisable		Weighted Average Exercise Price
$0.01-$1.00		3,221,668		7.38	$	0.35		3,171,667	$	0.35
$1.01-$1.96		171,000		2.26	$	1.58		171,000	$	1.58
Totals		3,392,668						3,342,667