Under the 2021 Employee Plan, a restricted stock award is an award of shares of our common stock, which have full voting and dividend rights but are restricted with regard to sale or transfer. Restricted stock awards are independent of stock grants and are generally subject to forfeiture if employment terminates prior to these restrictions lapsing. Unless otherwise specified in the award agreement, these shares vest in equal annual installments over a four-year period from the grant date and are expensed over the vesting period starting on the grant date.

The 2021 Employee Plan initially made available for issuance 1,200,000 shares of common stock. On July 24, 2025, our shareholders approved an amendment to the 2021 Employee Plan to increase the total number of shares available for issuance thereunder by 1,850,000 (from 1,200,000 to 3,050,000), which became effective on the same date. On July 28, 2026, the Board of Directors approved to temporarily decrease the total number of shares reserved for issuance under the 2021 Employee Plan from 3,050,000 to 65,000. On September 1, 2026, the Board of Directors approved an increase to restore the total number of shares reserved for issuance under the 2021 Employee Plan to 3,050,000, the amount previously approved by the Company's shareholders. As of September 30, 2026, there were 1,462,454 shares of common stock available for issuance under the 2021 Employee Plan.

In addition, the Board of Directors and shareholders approved the Non-Employee Director Plan as part of the compensation package for non-employee directors of the Board of Directors. Under the Non-Employee Director Plan, at the beginning of each one-year term of service on our Board, each non-employee director will receive a number of shares equivalent to $50,000 based on the market value at the close of the Nasdaq Global Select Market on the date of grant. These shares will vest one year from the date of the grant and are expensed over the one-year term of non-employee directors. The Non-Employee Director Plan makes available for issuance 120,000 shares of common stock. As of September 30, 2026, there were 65,335 shares of common stock available for issuance under the Non-Employee Director Plan.

We expense the cost of the restricted stock awards, which is determined to equal the fair value of the restricted stock award at the date of grant on a straight-line basis over the requisite service period. For these purposes, the fair value of the restricted stock award is determined based upon the closing price of our common stock on the date of the grant.

For the three months ended September 30, 2026 and 2025, we recognized total share based compensation expense of $1.9 million (of which $0.1 million was related to restricted stock issued to non-employee directors) and $1.3 million (of which $0.1 million was related to restricted stock issued to non-employee directors), respectively, related to the restricted stock issued. For the six months ended September 30, 2026 and 2025, we recognized total share based compensation expense of $3.4 million (of which $0.1 million was related to restricted stock issued to non-employee directors) and $2.4 million (of which $0.1 million was related to restricted stock issued to non-employee directors), respectively, related to the restricted stock issued.

As of September 30, 2026, the total remaining unrecognized compensation expense related to non-vested restricted stock awards was $20.1 million, which will be amortized over the weighted-average vesting period of approximately 3.0 years.


		Weighted Average		Weighted Average
		Fair Value Per		Remaining Vesting
Restricted Stock Awards	Number of Shares	Share at grant date		Term (in Years)
Unvested at March 31, 2026	640,854	$	22.58	2.5
Granted	535,750	23.58		—
Vested	(217,531)	22.39		—
Forfeited	—	—		—
Unvested at September 30, 2026	959,073	$	23.18	3.0


		Weighted Average		Weighted Average
		Fair Value Per		Remaining Vesting
Restricted Stock Awards	Number of Shares	Share at grant date		Term (in Years)
Unvested at March 31, 2026	10,965	$	22.80	0.4
Granted	9,945	25.14		—
Vested	(10,965)	22.80		—
Forfeited	—	—		—
Unvested at September 30, 2026	9,945	$	25.14	0.9