Stock-Based Compensation (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
|---|
| Stockholders' Equity |
|
| Summary of stock-based compensation expense by statement of operations line item |
The following table summarizes, by statement of operations line item, stock-based compensation expense for the three and nine months ended December 31, 2015 (in thousands):
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Cost of goods sold
|
|
$
|
63
|
|
$
|
33
|
|
$
|
132
|
|
$
|
85
|
|
|
Research and development
|
|
47
|
|
84
|
|
56
|
|
244
|
|
|
Selling, general and administrative
|
|
546
|
|
454
|
|
1,316
|
|
1,466
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense
|
|
$
|
656
|
|
$
|
571
|
|
$
|
1,504
|
|
$
|
1,795
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of stock option activity |
|
|
|
Shares
|
|
Weighted
Average
Exercise Price
|
|
Weighted-
Average
Remaining
Contractual
Term
(in years)
|
|
Aggregate
Intrinsic Value
|
|
|
Options outstanding at March 31, 2015
|
|
658,171
|
|
$
|
25.57
|
|
|
|
|
|
|
Granted
|
|
29,225
|
|
12.80
|
|
|
|
|
|
|
Exercised
|
|
—
|
|
—
|
|
|
|
|
|
|
Forfeited, cancelled or expired
|
|
(151,257
|
)
|
34.72
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at December 31, 2015
|
|
536,139
|
|
$
|
22.29
|
|
4.3
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options fully vested at December 31, 2015 and those expected to vest beyond December 31, 2015
|
|
536,139
|
|
$
|
22.29
|
|
4.3
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at December 31, 2015
|
|
452,593
|
|
$
|
22.73
|
|
3.5
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of weighted-average assumptions used to calculate the estimated fair value of each stock option |
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Risk-free interest rates
|
|
—
|
|
—
|
|
1.5
|
%
|
1.8
|
%
|
|
Expected lives (in years)
|
|
—
|
|
—
|
|
5.7
|
|
5.7
|
|
|
Dividend yield
|
|
—
|
|
—
|
|
—
|
%
|
—
|
%
|
|
Expected volatility
|
|
—
|
|
—
|
|
59.0
|
%
|
77.0
|
%
|
|
Weighted average grant date fair value of options granted during the period
|
|
—
|
|
—
|
|
$
|
6.84
|
|
$
|
18.79
|
|
|
| Schedule of addition information on stock options |
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Stock option compensation expense (in thousands)
|
|
$
|
135
|
|
$
|
239
|
|
$
|
409
|
|
$
|
834
|
|
|
Cash received for exercise price (in thousands)
|
|
$
|
—
|
|
$
|
7
|
|
$
|
—
|
|
$
|
302
|
|
|
Intrinsic value (in thousands)
|
|
$
|
—
|
|
$
|
1
|
|
$
|
—
|
|
$
|
129
|
|
|
Weighted average grant date fair value of options exercised during the period
|
|
$
|
—
|
|
$
|
15.20
|
|
$
|
—
|
|
$
|
26.75
|
|
|
| Summary of restricted stock unit activity |
|
|
|
Shares
|
|
Weighted
Average
Grant-Date
Fair Value
|
|
|
Nonvested restricted stock units outstanding at March 31, 2015
|
|
93,383
|
|
$
|
23.76
|
|
|
|
|
|
|
|
|
|
Granted
|
|
234,046
|
|
3.86
|
|
|
Vested and issued
|
|
(36,098
|
)
|
24.47
|
|
|
Forfeited
|
|
(17,034
|
)
|
21.39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonvested restricted stock units outstanding at December 31, 2015
|
|
274,297
|
|
$
|
6.83
|
|
|
|
|
|
|
|
|
|
|
Restricted stock units expected to vest beyond December 31, 2015
|
|
274,286
|
|
$
|
6.83
|
|
|
|
|
|
|
|
|
|
|
| Schedule of additional information on restricted stock units |
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Restricted stock units compensation expense (in thousands)
|
|
$
|
204
|
|
$
|
303
|
|
$
|
715
|
|
$
|
873
|
|
|
Aggregate fair value of restricted stock units vested and issued (in thousands)
|
|
$
|
4
|
|
$
|
28
|
|
$
|
344
|
|
$
|
1,184
|
|
|
Weighted average grant date fair value of restricted stock units granted during the period
|
|
$
|
1.19
|
|
$
|
19.60
|
|
$
|
3.34
|
|
$
|
27.43
|
|
|
| Schedule of restricted stock award activity |
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Restricted stock awards compensation expense (in thousands)
|
|
$
|
317
|
|
$
|
29
|
|
$
|
380
|
|
$
|
88
|
|
|
Restricted stock awards granted
|
|
255,912
|
|
1,814
|
|
263,594
|
|
3,956
|
|
|
Weighted average grant date fair value of restricted stock awards granted during the period
|
|
$
|
1.24
|
|
$
|
16.20
|
|
$
|
1.44
|
|
$
|
22.28
|
|
|
| Schedule of nonqualified common stock options and restricted stock units |
|
Outside of 2000 Plan
|
|
Options
|
|
RSUs
|
|
|
Executive Vice President and Chief Executive Officer
|
|
100,000
|
|
—
|
|
|
Executive Vice President of Sales and Marketing
|
|
42,500
|
|
—
|
|
|
Vice President of Operations
|
|
12,500
|
|
2,343
|
|
|
|
|
|
|
|
|
|
Outstanding stock outside of 2000 Plan
|
|
155,000
|
|
2,343
|
|
|
|
|
|
|
|
|
|