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Equity-Based Compensation | 6 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Equity-Based Compensation | NOTE 5 – EQUITY-BASED COMPENSATION: The 2020 Graham Corporation Equity Incentive Plan, as amended (the "2020 Plan"), provides for the issuance of 722 shares of common stock in connection with grants of incentive stock options, non-qualified stock options, restricted stock units and stock awards to officers, key employees and outside directors, including 112 shares that became available under the 2020 Plan from the Company’s prior plan, the Amended and Restated 2000 Graham Corporation Incentive Plan to Increase Shareholder Value (the "2000 Plan"). As of August 11, 2020, the effective date of the 2020 Plan, no further awards will be granted under the 2000 Plan. No time vesting restricted stock units ("RSUs") or performance based restricted stock units ("PSUs") were granted in the three months ended September 30, 2023 and 2022. The following restricted stock units were granted in the six months ended September 30, 2023 and 2022:
|  | Vest 100% on First |  |  | Vest One-Third Per Year |  |  | Vest 100% on Third |  |  |
|  | Anniversary (1) |  |  | Over Three-Year Term (1) |  |  | Anniversary (1) |  |  |
|  |  |  |  | Officers and |  |  | Officers and |  |  | Total Shares
Six months ended September 30, |  | Directors |  |  | Key Employees |  |  | Key Employees |  |  | Awarded
2023 |  |  |  |  |  |  |  |  |  |  |
Time Vesting RSUs |  | 38 |  |  | 40 |  |  |  | — |  |  | 78
Performance Vesting PSUs |  |  | — |  |  |  | — |  |  | 79 |  |  | 79
2022 |  |  |  |  |  |  |  |  |  |  |
Time Vesting RSUs |  | 37 |  |  | 56 |  |  | 18 |  |  | 111
Performance Vesting PSUs |  |  | — |  |  |  | — |  |  | 112 |  |  | 112
(1)Subject to the terms of the applicable award. The Company has an Employee Stock Purchase Plan, as amended (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 last, first or lower of the last or first day of the six-month offering period. As of September 30, 2023, a total of 400 shares of common stock may be purchased under the ESPP. The Company has recognized equity-based compensation costs as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Restricted stock awards |  | $ | 77 |  |  | $ | 201 |  |  | $ | 164 |  |  | $ | 306 |
Restricted stock units |  |  | 249 |  |  |  | — |  |  |  | 445 |  |  |  | — |
Employee stock purchase plan |  |  | 6 |  |  |  | (3 | ) |  |  | 16 |  |  |  | 6 |
|  | $ | 332 |  |  | $ | 198 |  |  | $ | 625 |  |  | $ | 312 |
Income tax benefit recognized |  | $ | 74 |  |  | $ | 43 |  |  | $ | 139 |  |  | $ | 68 |

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