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Employee Stock Purchase Plan | 12 Months Ended
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Mar. 31, 2018
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Employee Stock Purchase Plan | Note 6 — Employee Stock Purchase Plan The Company maintains an Employee Stock Purchase Plan (as amended, “ESPP”) which allows employees of the Company and its subsidiaries to purchase shares of common stock on the last day of two six-month purchase periods (i.e. March 31 and September 30) at a purchase price which is 95% of the closing sale price of shares as quoted on NASDAQ on the last day of such purchase period. Employees are allowed to contribute up to 20% of their gross pay. A maximum of 2,850,000 shares has been authorized for issuance under the ESPP. As of March 31, 2018, 2,469,843 shares had been issued pursuant to the ESPP. Summarized ESPP information is as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
Employee contributions |  | $ | 458,000 |  |  | $ | 419,000 |  |  | $ | 371,000 |
Shares acquired |  |  | 8,976 |  |  |  | 10,596 |  |  |  | 10,975 |
Average purchase price |  | $ | 49.78 |  |  | $ | 38.80 |  |  | $ | 33.81 |

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- Definition Employee stock purchase plan. + References No definition available. + Details
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