Stock Options and Restricted Shares (Tables)

6 Months Ended

Sep. 30, 2016

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

Stock-based compensation

The following amounts of stock-based compensation were recorded (in thousands):

	Three Months Ended September 30,					Six Months Ended September 30,
	2016		2015			2016		2015
Cost of product revenue	$	9	$	10		$	23	$	20
General and administrative	485		294			752		576
Sales and marketing	21		57			52		136
Research and development	24		(8		)	41		6
Total	$	539	$	353		$	868	$	738

Summary of share based payment awards

The following table summarizes information with respect to the Plans:

			Outstanding Awards
	Shares Available for Grant		Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Balance at March 31, 2016	787,686		2,017,046		$	3.32	4.54
Shares reserved under new plan	1,750,000		—
Granted stock options	—		—		—
Granted shares	(39,293	)	—		—
Restricted shares	(1,047,142	)	—		—
Forfeited restricted shares	87,500		—		—
Forfeited stock options	74,600		(74,600	)	4.85
Exercised	—		—		—
Balance at September 30, 2016	1,613,351		1,942,446		$	3.26	3.49	$	0.00
Exercisable at September 30, 2016			1,782,846		$	3.34	3.43	$	0.00

Summary of outstanding non-vested stock options

A summary of the status of Orion’s outstanding non-vested stock options as of September 30, 2016 was as follows:

Non-vested at March 31, 2016	205,900
Granted	—
Vested	(44,300	)
Forfeited	(2,000	)
Non-vested at September 30, 2016	159,600

Summary of restricted shares granted

During the first half of fiscal 2017, Orion granted restricted shares as follows (which are included in the above stock plan activity tables):

Balance at March 31, 2016	1,053,389
Shares issued	1,047,142
Shares vested	(289,111	)
Shares forfeited	(87,500	)
Shares outstanding at September 30, 2016	1,723,920
Per share price on grant date	$1.34 - $6.80