Quantum Corporation Annual report pursuant to Section 13 and 15(d)

STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2016

The weighted-average fair values and the assumptions used in calculating fair values during each fiscal period are as follows:



	For the year ended March 31,
	2016			2015			2014
Option life (in years)	0.5			0.5			0.5
Risk-free interest rate	0.26		%	0.07		%	0.07		%
Stock price volatility	77.94		%	36.58		%	43.71		%
Weighted-average grant date fair value	$	0.29		$	0.36		$	0.40

The following tables summarize share-based compensation expense (in thousands):



	For the year ended March 31,
	2016		2015		2014
Share-based compensation expense:
Cost of revenue	$	1,241	$	1,489	$	1,963
Research and development	1,864		2,559		3,430
Sales and marketing	2,907		3,506		4,097
General and administrative	2,904		4,029		3,969
Total share-based compensation expense	$	8,916	$	11,583	$	13,459



	For the year ended March 31,
	2016		2015		2014
Share-based compensation by type of award:
Stock options	$	2	$	617	$	826
Restricted stock	8,220		10,102		11,356
Stock purchase plan	694		864		1,277
Total share-based compensation expense	$	8,916	$	11,583	$	13,459

A summary of activity relating to all of our stock option plans is as follows (stock options and intrinsic value in thousands):



	Stock Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of March 31, 2015	4,944		$	1.47
Exercised	(294	)	1.01
Forfeited	(323	)	1.00
Expired	(196	)	1.69
Outstanding as of March 31, 2016	4,131		$	1.52	0.84	$	1,646
Vested and expected to vest at March 31, 2016	4,131		$	1.52	0.84	$	1,646
Exercisable as of March 31, 2016	4,131		$	1.52	0.84	$	1,646

The following table summarizes information about stock options outstanding and exercisable as of March 31, 2016 (stock options in thousands):



Range of Exercise Prices			Stock Options Outstanding	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Stock Options Exercisable	Weighted- Average Exercise Price
$0.63	—	$0.92	40	$	0.72	3.54	40	$	0.72
$0.98	—	$1.23	2,651	0.99		0.24	2,651	0.99
$1.85	—	$2.59	1,419	2.52		1.91	1,419	2.52
$2.90	—	$2.93	21	2.91		0.94	21	2.91
			4,131				4,131

A summary of activity relating to our restricted stock follows (shares in thousands):



	Shares		Weighted-Average Grant Date Fair Value
Nonvested as March 31, 2015	13,791		$	1.34
Granted	6,854		1.61
Vested	(6,426	)	1.43
Forfeited	(3,110	)	1.54
Nonvested as March 31, 2016	11,109		$	1.39