Quantum Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION (Tables)

STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following table summarizes share-based compensation (in thousands):



	Three Months Ended				Six Months Ended
	September 30, 2014		September 30, 2013		September 30, 2014		September 30, 2013
Share-based compensation:
Cost of revenue	$	333	$	523	$	747	$	1,051
Research and development	603		908		1,383		1,776
Sales and marketing	887		1,080		1,797		2,154
General and administrative	846		980		1,810		1,866
	$	2,669	$	3,491	$	5,737	$	6,847
Share-based compensation by type of award:
Stock options	$	154	$	208	$	311	$	440
Restricted stock	2,315		2,968		5,013		5,706
Stock purchase plan	200		315		413		701
	$	2,669	$	3,491	$	5,737	$	6,847

Schedule of weighted-average grant date fair values and the assumptions used in calculating fair values

Under the Stock Purchase Plan, rights to purchase shares are typically granted during the second and fourth quarter of each fiscal year. The value of rights to purchase shares granted in the second quarter and first six months of fiscal 2015 and fiscal 2014, respectively, was estimated at the date of the grant using the Black-Scholes option pricing model. The weighted-average grant date fair values and the assumptions used in calculating fair values for the three and six month periods ended September 30, 2014 and 2013 were as follows:



	Three and Six Months Ended
	September 30, 2014			September 30, 2013
Option life (in years)	0.5			0.5
Risk-free interest rate	0.06		%	0.07		%
Stock price volatility	32.19		%	47.65		%
Weighted-average grant date fair value	$	0.30		$	0.47

A summary of activity relating to 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, 2014	7,997		$	1.78
Exercised	(155	)	0.86
Forfeited	(99	)	2.13
Expired	(1,761	)	2.69
Outstanding as of September 30, 2014	5,982		$	1.52	2.07	$	704
Vested and expected to vest at September 30, 2014	5,977		$	1.52	2.06	$	704
Exercisable as of September 30, 2014	5,792		$	1.49	2.02	$	704

A summary of activity relating to restricted stock

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



	Shares		Weighted-Average Grant Date Fair Value
Nonvested at March 31, 2014	12,108		$	1.80
Granted	9,519		1.25
Vested	(5,284	)	2.21
Forfeited	(462	)	1.52
Nonvested at September 30, 2014	15,881		$	1.34

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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