v3.24.1.1.u2
Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2024
Stock-Based Compensation [Abstract]  
Assumptions Used in Determining Fair Value of Options
The Company estimated the fair value of option awards on the date of grant using the Black-Scholes option valuation model and the following assumptions:

 
Years ended March 31,
  
   
2023
    
2022
  
Fair value of options
  
$
6.99
    
$
8.79
  
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
%
Stock Option Activity
A summary of stock option activity for fiscal 2024 was as follows:

 
Shares
    
Weighted-average
exercise price
    
Weighted-average
remaining contractual
term (years)
    
Aggregate
intrinsic value
  
Outstanding, beginning of year
    
0.9
    
$
12.28
              
Granted
    
-
      
-
              
Exercised
    
(0.2
)
    
11.08
              
Forfeited or expired
    
(0.1
)
    
11.13
              
Outstanding, end of year
    
0.6
    
$
12.78
      
6.7
    
$
51.9
  
                                 
Exercisable, March 31, 2024
    
0.4
    
$
13.00
      
6.2
    
$
29.8
  
Information Related to Stock Options Exercised
Additional information related to stock options exercised is as follows:

 
Years ended March 31,
  
   
2024
    
2023
    
2022
  
Intrinsic value of stock options exercised
  
$
12.4
    
$
1.5
    
$
0.1
  
Proceeds from stock options exercised
    
2.6
      
2.9
      
1.4
  
Restricted Stock Activity
A summary of restricted stock activity for fiscal 2024 was as follows:

 
Shares
    
Weighted-average
price
  
Non-vested balance, beginning of year
    
0.8
    
$
12.95
  
Granted
    
0.2
      
37.59
  
Vested
    
(0.4
)
    
12.96
  
Forfeited
    
(0.1
)
    
13.14
  
Non-vested balance, end of year
    
0.5
    
$
21.08