Stock-Based Compensation (Tables)

3 Months Ended

Jun. 30, 2014

Schedule of the company's stock based grants

The following table summarizes our stock based grants:



	Three Months Ended
	June 30, 2014
Restricted Stock (“RSU”) grants:
Units granted from 2011 Incentive Plan	462,403
Vesting period, in years - high ⁽¹⁾	10
Vesting period, in years - low ⁽²⁾	3
Compensation information related to RSUs granted in period (in thousands):
Total fair market value, recognized over vesting period	$	22,284
Total expected expense to be recognized in Fiscal 2015⁽³⁾	$	2,127
Expense recognized as a component of operating expenses	$	273

RSUs vesting in period:⁽⁴⁾	80,188
Additional compensation expense recorded for awards vesting prior to the completion of the initially estimated requisite service period, recognized as a component of operating expenses (in thousands)	$	6
Shares withheld in payment for taxes associated with vested RSUs	38,500

(1) Awards granted with this provision vest evenly at the end of each of the next ten years. These awards had an implied service period of five years and were to be amortized over that period. Subsequent to June 30, 2014, the agreements were amended to clarify an implied service period of 10 years.

(2) Awards granted with this provision cliff vest at the end of three years.

(3) Value reflects clarification described above, total expected expense to be recognized in Fiscal 2015 before the amendment was $3.7 million.

(4) RSUs vested upon achieving conditions related to the trading price of our common stock.