XML 39 R21.htm IDEA: XBRL DOCUMENT
v3.20.1

Equity Compensation Plans | 12 Months Ended
--- | ---
Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Equity Compensation Plans | Note 13 - Equity Compensation Plans: The Amended and Restated 2000 Graham Corporation Incentive Plan to Increase Shareholder Value, as approved by the Company's stockholders at the Annual Meeting on July 28, 2016, provides for the issuance of up to 1,375 shares of common stock in connection with grants of incentive stock options, non-qualified stock options, stock awards and performance awards to officers, key employees and outside directors; provided, however, that no more than 467 shares of common stock may be used for awards other than stock options. Stock options may be granted at prices not less than the fair market value at the date of grant and expire no later than ten years after the date of grant. In fiscal 2020, fiscal 2019 and fiscal 2018, 83, 53 and 59 shares, respectively, of restricted stock were awarded. Restricted shares of 40, 27 and 30 granted to officers in fiscal 2020, fiscal 2019 and fiscal 2018, respectively, vest 100% on the third anniversary of the grant date subject to the satisfaction of the performance metrics for the applicable three-year period. Restricted shares of 28, 20, and 22 granted to officers and key employees in fiscal 2020, fiscal 2019, and fiscal 2018 respectively, vest 33⅓% per year over a three-year term. The restricted shares granted to directors of 15, 6 and 7 in fiscal 2020, fiscal 2019 and fiscal 2018, respectively, vest 100% on the first anniversary of the grant date. The Company recognizes compensation cost over the period the shares vest. During fiscal 2020, fiscal 2019, and fiscal 2018, the Company recognized $945, $1,069, and $577, respectively, of stock-based compensation cost related to stock option and restricted stock awards, and $208, $237 and $125, respectively, of related tax benefits. The Company received cash proceeds from the exercise of stock options of $24, $307 and $0 in fiscal 2020, fiscal 2019 and fiscal 2018, respectively. The following table summarizes information about the Company's stock option awards during fiscal 2020, fiscal 2019 and fiscal 2018:
|  |  |  |  |  | Weighted |  |  |  |  |  |  |
|  | Shares |  |  | Average |  |  | Weighted |  | Aggregate |
|  | Under |  |  | Exercise |  |  | Average Remaining |  | Intrinsic |
|  | Option |  |  | Price |  |  | Contractual Term |  | Value |
Outstanding at April 1, 2017 |  |  | 69 |  |  |  | 20.26 |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2018 |  |  | 69 |  |  |  | 20.26 |  |  |  |  |  |  |
Exercised |  |  | (19 | ) |  |  | 15.89 |  |  |  |  |  |  |
Cancelled |  |  | (11 | ) |  |  | 33.02 |  |  |  |  |  |  |
Outstanding at March 31, 2019 |  |  | 39 |  |  |  | 18.76 |  |  |  |  |  |  |
Exercised |  |  | (2 | ) |  |  | 15.25 |  |  |  |  |  |  |
Outstanding at March 31, 2020 |  |  | 37 |  |  |  | 18.92 |  |  | 2.07 years |  | $ | — |
Vested or expected to vest at March 31, 2020 |  |  | 37 |  |  |  | 18.92 |  |  | 2.07 years |  |  | — |
Exercisable at March 31, 2020 |  |  | 37 |  |  |  | 18.92 |  |  | 2.07 years |  |  | — |
The following table summarizes information about stock options outstanding at March 31, 2020:
Exercise Price |  | Options Outstanding at March 31, 2020 |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |
$18.65 |  |  | 33 |  |  | $ | 18.65 |  |  |  | 2.17 |
$21.19 |  |  | 4 |  |  |  | 21.19 |  |  |  | 1.17 |
$18.65-21.19 |  |  | 37 |  |  |  | 18.92 |  |  |  | 2.07 |
The total intrinsic value of the stock options exercised during fiscal 2020, fiscal 2019 and fiscal 2018 was $10, $161 and $0, respectively. As of March 31, 2020, there was $2,318 of total unrecognized stock-based compensation expense related to non-vested restricted stock. The Company expects to recognize this expense over a weighted average period of 1.38 years. The outstanding options expire between May 2021 and May 2022. Options, stock awards and performance awards available for future grants were 202 at March 31, 2020. The following table summarizes information about the Company's restricted stock awards during fiscal 2020, fiscal 2019 and fiscal 2018:
|  | Restricted Stock |  |  | Weighted Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Non-vested at April 1, 2017 |  |  | 120 |  |  |  | 21.96 |  |  |  |  |
Granted |  |  | 59 |  |  |  | 23.03 |  |  |  |  |
Vested |  |  | (25 | ) |  |  | 20.44 |  |  |  |  |
Forfeited |  |  | (28 | ) |  |  | 25.27 |  |  |  |  |
Non-vested at March 31, 2018 |  |  | 126 |  |  |  | 22.02 |  |  |  |  |
Granted |  |  | 53 |  |  |  | 30.08 |  |  |  |  |
Vested |  |  | (28 | ) |  |  | 20.38 |  |  |  |  |
Forfeited |  |  | (2 | ) |  |  | 22.83 |  |  |  |  |
Non-vested at March 31, 2019 |  |  | 149 |  |  |  | 25.19 |  |  |  |  |
Granted |  |  | 83 |  |  |  | 22.95 |  |  |  |  |
Vested |  |  | (38 | ) |  |  | 23.17 |  |  |  |  |
Forfeited |  |  | (45 | ) |  |  | 22.52 |  |  |  |  |
Non-vested at March 31, 2020 |  |  | 149 |  |  |  | 25.26 |  |  | $ | — |
The Company has an Employee Stock Purchase Plan (the "ESPP"), which allows eligible employees to purchase shares of the Company's common stock at a discount of up to 15% of its fair market value on the (1) last, (2) first or (3) lower of the last or first day of the six-month offering period. A total of 200 shares of common stock may be purchased under the ESPP. In fiscal 2020, fiscal 2019 and fiscal 2018, 9, 6 and 7 shares, respectively, were issued from treasury stock to the ESPP for the offering periods in each of the fiscal years. During fiscal 2020, fiscal 2019 and fiscal 2018, the Company recognized stock-based compensation cost of $30, $0 and $0, respectively, related to the ESPP and $7, $0 and $0, respectively, of related tax benefits.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration