Quarterly report pursuant to Section 13 or 15(d)

STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION

v3.5.0.2
STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION
 3 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION
STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION
Share-Based Compensation
The following table summarizes share-based compensation (in thousands):
 
Three Months Ended
 
June 30, 2016
 
June 30, 2015
Share-based compensation:
 
 
 
Cost of revenue
$
280

 
$
362

Research and development
403

 
549

Sales and marketing
612

 
870

General and administrative
703

 
872

 
$
1,998

 
$
2,653

Share-based compensation by type of award:
 
 
 
Stock options
$
—

 
$
2

Restricted stock
1,836

 
2,430

Stock purchase plan
162

 
221

 
$
1,998

 
$
2,653


Stock Incentive Plans - Grants and Fair Value
Stock Options
No stock options were granted during the first quarter of fiscal 2017 or fiscal 2016. The Black-Scholes option pricing model is used to estimate the fair value of stock options.
Restricted Stock Units
The fair value of restricted stock units (“RSUs”) granted is the intrinsic value as of the respective grant date since the RSUs are granted at no cost to the employee. The weighted-average grant date fair values of RSUs granted during the first quarter of fiscal 2017 and fiscal 2016 were $0.48 and $1.97 per share, respectively.
Stock Purchase Plan
Under the Stock Purchase Plan, rights to purchase shares are typically granted during the second and fourth quarter of each fiscal year. No rights to purchase shares were granted in the first quarter of fiscal 2017 or fiscal 2016.
Stock Incentive Plans - Activity
Stock Options
A summary of activity relating to our stock options follows (options and aggregate intrinsic value in thousands):
Options
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding as of March 31, 2016
4,131

 
$
1.52

 
 
 
 
Forfeited
(234
)
 
0.98

 
 
 
 
Expired
(41
)
 
0.97

 
 
 
 
Outstanding as of June 30, 2016
3,856

 
$
1.56

 
1.53
 
$
—

Vested and expected to vest at June 30, 2016
3,856

 
$
1.56

 
1.53
 
$
—

Exercisable as of June 30, 2016
3,856

 
$
1.56

 
1.53
 
$
—



Restricted Stock Units
A summary of activity relating to our restricted stock units follows (shares in thousands):
 
Shares
 
Weighted-Average
Grant Date
Fair Value Per Share
Nonvested at March 31, 2016
11,109

 
$
1.39

Granted
925

 
0.48

Vested
(306
)
 
1.36

Forfeited
(174
)
 
1.43

Nonvested at June 30, 2016
11,554

 
$
1.32