v3.22.4
Stock-Based Compensation (Tables)
9 Months Ended
Dec. 31, 2022
Stock-Based Compensation [Abstract]  
Fair Value of Stock-Based Compensation Awards
The weighted-average fair value of stock-based compensation awards granted during the nine months ended December 31, 2022 and 2021 were as follows:

      Nine months ended December 31,
 
    2022     2021  
           Fair Value            Fair Value  

 
Shares
   
Per Award
    Shares    
Per Award
 
Stock options
   
0.2
   
$
6.99
      0.2     $ 8.79  
Restricted stock awards
   
0.5
   
$
13.49
      0.3     $ 14.96  
Unrestricted stock awards
    -       -       0.1     $
15.93  
Assumptions Used in Determining Fair Value of Stock Options
The Company used the following assumptions in determining fair value for stock options:

    Nine months ended December 31,
 
    2022
    2021  
Expected life of awards in years
   
6.0
      6.1  
Risk-free interest rate
   
3.0
%
    1.1 %
Expected volatility of the Company’s stock
   
57.8
%
    56.5 %
Expected dividend yield on the Company’s stock
   
0.0
%
    0.0 %
Unrecognized Compensation Expense Related to Non-Vested Stock-Based Compensation Awards
As of December 31, 2022, unrecognized compensation expense related to non-vested stock-based compensation awards, which will be recognized as expense over the remaining service periods, was as follows:


 
Unrecognized
Compensation
Expense
   
Weighted-Average
Remaining Service
Period in Years
 
Stock options
 
$
2.6
     
2.3
 
Restricted stock awards
   
7.6
     
2.0
 
Total
 
$
10.2
     
2.1