STOCK-BASED COMPENSATION (Tables)
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3 Months Ended |
Jun. 30, 2025 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Performance Shares Vesting Based on EPS Targets |
The Performance Share performance targets are set forth below. | | | | | | Trailing 4-Quarter EPS Targets for
September 30, 2018 through March 31, 2025 | Restricted Stock Eligible for Vesting
(Percentage of Award) | | $16.35 | 40% | | $20.45 | 60% |
| | | | | | Trailing 4-Quarter EPS Targets for
September 30, 2018 through March 31, 2025 | Options Eligible for Vesting
(Percentage of Award) | | $25.30 | 100% |
The 2025 Performance Shares performance target is set forth below.
| | | | | | Trailing 4-Quarter EPS Targets for
July 1, 2025 through March 31, 2027 | Restricted Stock Eligible for Vesting
(Percentage of Award) | | $18.40 | 100% |
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| Schedule of Stock Option Activity |
Option activity for the three months ended June 30, 2025 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Shares | | Weighted Average Exercise
Price | | Weighted Average
Remaining
Contractual Term | | Aggregate Intrinsic Value | | | | | | | | | | Options outstanding, beginning of period | 169,154 | | | $ | 111.55 | | | | | | | | | | | | | | | Exercised during period | (16,360) | | | 95.74 | | | | | | | Forfeited during period | (1,000) | | | 111.64 | | | | | | | Expired during period | (550) | | | 208.68 | | | | | | | Options outstanding, end of period | 151,244 | 2 | | $ | 112.91 | | | 5.6 years | | $ | 8,145,272 | | | Options exercisable, end of period | 111,041 | | | $ | 112.94 | | | 4.2 years | | $ | 6,042,366 | |
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| Schedule of Intrinsic Value of Options Exercised |
The total intrinsic value and tax benefit of options exercised during the three month periods ended June 30, 2025 and 2024 were as follows: | | | | | | | | | | | | | | | | | Three months ended June 30, | | | | 2025 | | 2024 | | | | | | | | | | | | | | Intrinsic value of options exercised | $ | 1,000,598 | | | $ | 256,797 | | | | | | | Tax benefit of options exercised | 245,147 | | | 62,915 | | | | | | | | | | | | | |
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| Summary of the Status and Changes Restricted Stock |
A summary of the status of the Company’s restricted stock as of June 30, 2025, and changes during the three months ended June 30, 2025, are presented below: | | | | | | | | | | | | | | Shares | | Weighted Average Fair Value at Grant Date | | | | | | Outstanding at March 31, 2025 | 159,683 | | | $ | 105.52 | | | Granted during the period | 175,000 | | | 157.79 | | | Vested during the period | (88,497) | | | 100.60 | | | | | | | Outstanding at June 30, 2025 | 246,186 | | | $ | 144.45 | |
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| Schedule of Share-Based Compensation Included as a Component of Net Income (Loss) |
Total stock-based compensation included as a component of personnel expenses in the Company's Consolidated Statements of Operations during the three month periods ended June 30, 2025 and 2024 was as follows:
| | | | | | | | | | | | | | | | | Three months ended June 30, | | | | 2025 | | 2024 | | | | | | Stock-based compensation related to equity classified awards: | | | | | | | | Stock-based compensation related to stock options | $ | 275,881 | | | $ | 143,720 | | | | | | | Stock-based compensation (reversal) related to restricted stock3 | 2,830,826 | | | (1,207,565) | | | | | | | Total stock-based compensation (reversal) related to equity classified awards | $ | 3,106,707 | | | $ | (1,063,845) | | | | | |
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