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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Apr. 30, 2021
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
Pay Versus Performance
Pay Versus Performance Table
The following table sets forth information concerning the compensation of our NEOs for each of the fiscal years ended April 30, 2021, 2022 and 2023, and our financial performance for each such fiscal year:
Value of Initial Fixed $100
Investment Based On:
Fiscal
Year
(a)
Summary
Compensation
Table Total
for PEO
1
(b)
Compensation
Actually Paid
to PEO
(c)
Average
Summary
Compensation
Table Total
for non-PEO
NEOs
(d)
Average
Compensation
Actually Paid
to non-PEO
NEOs
1
(e)
Total
Shareholder
Return
(f)
Peer Group
Total
Shareholder
Return
2
(g)
Net Income
(Loss)
($
Thousands)
(h)
Revenue3
($
Thousands)
(i)
2023
$4,904,510
$6,973,761
$1,210,207
$1,219,831
$167.09
$149.02
$(176,167)
$540,536
2022
$3,524,268
$(1,040,038)
$1,184,605
$149,399
$133.29
$134.89
$(4,185)
$445,732
2021
$2,524,773
$6,491,363
$743,648
$1,273,866
$183.16
$139.22
$23,345
$394,912
1.
Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year:
Year
PEO
Non-PEO NEOs
2023
Wahid Nawabi
Kevin McDonnell, Melissa Brown and Alison Roelke
2022
Wahid Nawabi
Kevin McDonnell, Kenneth Karklin, Melissa Brown and Alison Roelke
2021
Wahid Nawabi
Kevin McDonnell, Kenneth Karklin, Melissa Brown and Alison Roelke
The amounts reported in the “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs” columns do not reflect the actual compensation paid to or realized by our Chief Executive Officer or our other Named Executive Officers during each applicable year. The calculation of compensation actually paid for purposes of this table includes point-in-time fair values of stock awards and these values will fluctuate based on our stock price, various accounting valuation assumptions and projected performance related to our performance awards. Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:
PEO
Prior FYE
Current FYE
Fiscal Year
4/30/2020
4/30/2021
2021
4/30/2021
4/30/2022
2022
4/30/2022
4/30/2023
2023
Summary Compensation Table Total
$2,524,773
$3,524,268
$4,904,510
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
$(1,333,024)
$(2,645,306)
$(3,158,927)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
$3,013,951
$1,554,919
$4,544,265
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
$1,749,099
$(3,378,254)
$691,874
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
$0
$0
$0
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
$536,565
$(95,665)
$(7,961)
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
$0
$0
$0
Compensation Actually Paid
$6,491,363
$(1,040,038)
$6,973,761
Average for non-PEO NEOs
Prior FYE
Current FYE
Fiscal Year
4/30/2020
4/30/2021
2021
4/30/2021
4/30/2022
2022
4/30/2022
4/30/2023
2023
SCT Total
$743,648
$1,184,605
$1,210,207
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
$(204,970)
$(760,296)
$(989,739)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
$463,449
$280,308
$949,192
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
$219,241
$(291,827)
$128,731
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
$0
$0
$0
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
$52,497
$(14,650)
$5,279
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
$0
$(248,741)
$(83,840)
Compensation Actually Paid
$1,273,866
$149,399
$1,219,831
Adjustments include the following assumptions used to calculate the fair value of the awards at each valuation date in accordance with ASC 718: (i) for awards of restricted stock, adjustments reflected are based on the fair value of the awards as of the applicable valuation date calculated by multiplying the change in stock price at each fiscal year end presented by the number of shares of restricted stock outstanding on such valuation date, and (ii) for PRSU awards, adjustments reflected are based on the fair value of the awards as of the applicable valuation date calculated by multiplying the stock price at each fiscal year end by the number of PSUs outstanding and by the estimated probability of achieving the performance target that was used to calculate our ASC Topic 718 expense for each fiscal year. For additional information regarding the valuation assumptions used in the calculation of these amounts, refer to Notes 13 and 14 to the financial statements included in our annual report on Form 10-K for our fiscal year ended April 30, 2023, as filed with the SEC.
2.
For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the SPADETM Defense Index, which is the peer group used by the company for purposes of Item 201(e) of Regulation S-K under the Exchange Act in the company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2023.
3.
While we use numerous financial and non-financial performance measures for the purpose of evaluating performance when establishing compensation programs, we have determined that revenue is the financial performance measure that represents the most important performance measure (that is not otherwise required to be disclosed in the table) we use to link compensation actually paid to our Named Executive Officers for the most recently completed fiscal year to the company’s performance.
   
Company Selected Measure Name Revenue    
Named Executive Officers, Footnote
Year
PEO
Non-PEO NEOs
2023
Wahid Nawabi
Kevin McDonnell, Melissa Brown and Alison Roelke
2022
Wahid Nawabi
Kevin McDonnell, Kenneth Karklin, Melissa Brown and Alison Roelke
2021
Wahid Nawabi
Kevin McDonnell, Kenneth Karklin, Melissa Brown and Alison Roelke
   
Peer Group Issuers, Footnote
2.
For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the SPADETM Defense Index, which is the peer group used by the company for purposes of Item 201(e) of Regulation S-K under the Exchange Act in the company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2023
   
PEO Total Compensation Amount $ 4,904,510 $ 3,524,268 $ 2,524,773
PEO Actually Paid Compensation Amount $ 6,973,761 (1,040,038) 6,491,363
Adjustment To PEO Compensation, Footnote
PEO
Prior FYE
Current FYE
Fiscal Year
4/30/2020
4/30/2021
2021
4/30/2021
4/30/2022
2022
4/30/2022
4/30/2023
2023
Summary Compensation Table Total
$2,524,773
$3,524,268
$4,904,510
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
$(1,333,024)
$(2,645,306)
$(3,158,927)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
$3,013,951
$1,554,919
$4,544,265
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
$1,749,099
$(3,378,254)
$691,874
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
$0
$0
$0
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
$536,565
$(95,665)
$(7,961)
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
$0
$0
$0
Compensation Actually Paid
$6,491,363
$(1,040,038)
$6,973,761
   
Non-PEO NEO Average Total Compensation Amount $ 1,210,207 1,184,605 743,648
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,219,831 149,399 1,273,866
Adjustment to Non-PEO NEO Compensation Footnote
Average for non-PEO NEOs
Prior FYE
Current FYE
Fiscal Year
4/30/2020
4/30/2021
2021
4/30/2021
4/30/2022
2022
4/30/2022
4/30/2023
2023
SCT Total
$743,648
$1,184,605
$1,210,207
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
$(204,970)
$(760,296)
$(989,739)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
$463,449
$280,308
$949,192
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
$219,241
$(291,827)
$128,731
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
$0
$0
$0
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
$52,497
$(14,650)
$5,279
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
$0
$(248,741)
$(83,840)
Compensation Actually Paid
$1,273,866
$149,399
$1,219,831
   
Compensation Actually Paid vs. Total Shareholder Return
[MISSING IMAGE: bc_paidvsttlshrretrun-bw.jpg]
   
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: bc_paidvsnetincome-bw.jpg]
   
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: bc_paidvsrevenue-bw.jpg]
   
Tabular List, Table
Pay Versus Performance Tabular List
We believe the following performance measures represent the most important financial performance measures used by us to link compensation actually paid to our NEOs for the fiscal year ended April 30, 2023:

Revenue;

Adjusted EBIDTA; and

Bookings.
   
Total Shareholder Return Amount $ 167.09 133.29 183.16
Peer Group Total Shareholder Return Amount 149.02 134.89 139.22
Net Income (Loss) $ (176,167,000) $ (4,185,000) $ 23,345,000
Company Selected Measure Amount 540,536,000 445,732,000 394,912,000
PEO Name Wahid Nawabi    
Measure:: 1      
Pay vs Performance Disclosure      
Name Revenue    
Non-GAAP Measure Description
3.
While we use numerous financial and non-financial performance measures for the purpose of evaluating performance when establishing compensation programs, we have determined that revenue is the financial performance measure that represents the most important performance measure (that is not otherwise required to be disclosed in the table) we use to link compensation actually paid to our Named Executive Officers for the most recently completed fiscal year to the company’s performance.
   
Measure:: 2      
Pay vs Performance Disclosure      
Name Adjusted EBIDTA    
Measure:: 3      
Pay vs Performance Disclosure      
Name Bookings    
PEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (3,158,927) $ (2,645,306) $ (1,333,024)
PEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 4,544,265 1,554,919 3,013,951
PEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 691,874 (3,378,254) 1,749,099
PEO | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (7,961) (95,665) 536,565
PEO | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (989,739) (760,296) (204,970)
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 949,192 280,308 463,449
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 128,731 (291,827) 219,241
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 5,279 (14,650) 52,497
Non-PEO NEO | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (83,840) $ (248,741) $ 0