Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2018

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

Share-based compensation expense

Share-based compensation expense was included in the Company’s Consolidated Statements of Operations as follows:

(In thousands)	2018		2017		2016
Cost of sales	$	277	$	503	$	445
Selling, general and administration	3,657		5,197		3,004
Research, development and engineering	679		737		783
Share-based compensation expense	$	4,613	$	6,437	$	4,232

Fair value assumptions of options and SARs granted

The Black-Scholes pricing model is utilized to determine the fair value of SARs granted and ESPP issued. No SARs were granted in 2018 and 2017.

The following weighted average assumptions were used in calculating the grant date fair value of SARs during the periods presented:

	2018		2017		2016
Risk-free interest rate	—	%	—	%	1.94	%
Expected lives	0.0 years		0.0 years		7.4 years
Expected volatility	—	%	—	%	47	%

Fair value assumptions for ESPP

The following weighted average assumptions were used to estimate the fair value of ESPP shares issued in the periods presented:

	2018		2017		2016
Risk-free interest rate	1.37	%	0.68	%	0.34	%
Expected lives	0.6 years		1.1 years		1.1 years
Expected volatility	55	%	45	%	35	%

Summary of awards

The total fair value of stock option and SAR awards granted and vested during the period, restricted stock unit awards granted and vested during the period, the intrinsic value of stock options and SARs exercised during the period and the total grant date fair value were:

(In thousands, except per share data)	2018		2017		2016
Stock-Option and SAR Awards:
Grant date fair value per share	$	—	$	—	$	2.89
Total fair value of options and SARs granted	—		—		1,350
Total fair value of options and SARs vested	755		820		336
Total intrinsic value of options and SARs exercised	6,641		17		1
Restricted Stock Unit Awards:
Grant date fair value per share	10.59		6.71		5.52
Total fair value of awards granted	7,084		11,382		4,072
Total fair value of awards vested	4,945		3,693		4,324
Employee Stock Purchase Plan:
Grant date fair value per share	2.14		1.40		1.22
Total grant date fair value	613		473		394

Stock option activity

Information with respect to stock option and SAR activity was as follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In years)	Aggregate Intrinsic Value (In thousands)
Outstanding at March 28, 2015	2,229,046		$	12.52
Granted	467,000		5.63
Exercised	(2,500	)	6.71
Expired or forfeited	(537,946	)	16.53
Outstanding at April 2, 2016	2,155,600		$	10.03	5.35	$	904
Granted	—		—
Exercised	(22,500	)	6.23
Expired or forfeited	(191,097	)	19.20
Outstanding at April 1, 2017	1,942,003		$	9.17	4.82	$	634
Granted	—		—
Exercised	(1,280,478	)	8.17
Expired or forfeited	(548,000	)	11.92
Outstanding at March 31, 2018	113,525		$	7.26	4.17	$	1,371
Vested and expected to vest at March 31, 2018	113,140		$	7.26	4.16	$	1,365
Exercisable at March 31, 2018	89,525		$	7.64	3.42	$	1,046

Restricted stock activity

Information with respect to time-based restricted stock unit awards activity was as follows:

	Shares		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (In years)	Aggregate Intrinsic Value (In thousands)
Outstanding at March 28, 2015	835,841		$	8.90
Awarded	737,200		5.52
Vested	(360,349	)	11.75
Forfeited	(130,888	)	7.66
Outstanding at April 2, 2016	1,081,804		$	6.77	1.93	$	7,781
Awarded	1,051,445		6.63
Vested	(483,239	)	7.64
Forfeited	(42,093	)	6.67
Outstanding at April 1, 2017	1,607,917		$	6.41	2.04	$	11,168
Awarded	446,400		9.81
Vested	(757,462	)	6.53
Forfeited	(396,830	)	6.83
Outstanding at March 31, 2018	900,025		$	7.82	2.39	$	17,397