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Equity-Based Compensation | 9 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Equity-Based Compensation | NOTE 6 – 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 awarded in the three months ended December 31, 2024 and 2023. The following restricted stock units were awarded in the nine months ended December 31, 2024 and 2023:
|  | 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
Nine months ended December 31, |  | Directors |  |  | Key Employees |  |  | Key Employees |  |  | Awarded
2024 |  |  |  |  |  |  |  |  |  |  |
Time Vesting RSUs |  | 18 |  |  | 29 |  |  | 8 |  |  | 55
Performance Vesting PSUs |  |  | — |  |  |  | — |  |  | 62 |  |  | 62
2023 |  |  |  |  |  |  |  |  |  |  |
Time Vesting RSUs |  | 38 |  |  | 40 |  |  |  | — |  |  | 78
Performance Vesting PSUs |  |  | — |  |  |  | — |  |  | 79 |  |  | 79
(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 lower of the last or first day of the six-month offering period. As of December 31, 2024, a total of 400 shares of common stock may be purchased under the ESPP. The Company has recognized equity-based compensation costs, which is primarily included in selling, general and administrative costs, as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Restricted stock awards |  | $ | — |  |  | $ | 77 |  |  | $ | 33 |  |  | $ | 241 |
Restricted stock units |  |  | 392 |  |  |  | 256 |  |  |  | 1,074 |  |  |  | 701 |
Employee stock purchase plan |  |  | 34 |  |  |  | 44 |  |  |  | 97 |  |  |  | 60 |
|  | $ | 426 |  |  | $ | 377 |  |  | $ | 1,204 |  |  | $ | 1,002 |
Income tax benefit recognized |  | $ | 98 |  |  | $ | 84 |  |  | $ | 277 |  |  | $ | 223 |

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