XML 55 R10.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Note 5 - Stock-Based Compensation | 6 Months Ended
--- | ---
Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 5 - Stock-B ased Compensation Amounts recognized in the condensed consolidated financial statements related to stock-based compensation are as follows (in thousands, except per share data):
|  | Three Months E nded September 30, |  |  | Six Months E nded September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Total cost of stock-based compensation charged against income before income taxes |  | $ | 237 |  |  | $ | 208 |  |  | $ | 516 |  |  | $ | 357 |
Amount of income tax benefit recognized in earnings |  |  | 84 |  |  |  | 71 |  |  |  | 182 |  |  |  | 130 |
Amount charged against net income |  | $ | 153 |  |  | $ | 137 |  |  |  | 334 |  |  |  | 227 |
Impact on net income per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.04 |  |  | $ | 0.04 |  |  | $ | 0.10 |  |  | $ | 0.07 |
Diluted |  |  | 0.04 |  |  |  | 0.04 |  |  | $ | 0.09 |  |  |  | 0.06 |
Stock-based compensation expense is included in cost of revenues, selling, and general and administrative expense in the accompanying condensed consolidated statements of income. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model (“Black-Scholes”). We use historical data to estimate the expected price volatility, the expected stock option life and expected forfeiture rate. The risk-free interest rate is based on the United States Treasury yield curve in effect at the time of grant for the estimated life of the stock option. The dividend yield is calculated based upon the dividend payments made during the prior four quarters as a percent of the average stock price for that period. The following is a summary of stock option activity for the six months ended September 30, 2014:
|  | Number of Shares |  |  | Weighted- A verage Exercise Price per Share |  |  | Weighted- A verage Remaining Contractual Term |  |  | Aggregate Intrinsic Value (000s) |
Outstanding at March 31, 2014 |  |  | 398,172 |  |  | $ | 38.75 |  |  |  | 4.4 |  |  | $ | 20,505 |
Stock options granted |  |  | 145,400 |  |  |  | 89.11 |  |  |  | 7.5 |  |  |  |  |
Stock options forfeited |  |  | (25,916 | ) |  |  | 64.09 |  |  |  |  |  |  |  |  |
Stock options expired |  |  | -- |  |  |  | -- |  |  |  |  |  |  |  |  |
Stock options exercised |  |  | (36,198 | ) |  |  | 29.25 |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2014 |  |  | 481,458 |  |  |  | 53.23 |  |  |  | 5.0 |  |  |  | 6,595 |
Exercisable at September 30, 2014 |  |  | 200,640 |  |  |  | 31.41 |  |  |  | 3.3 |  |  |  | 5,291 |
The total intrinsic value of stock options exercised was $1,516,000 and $1,710,000 for the six months ended September 30, 2014 and 2013, respectively. A summary of the status of our unvested stock option shares as of September 30, 2014 is as follows:
|  | Number of Shares |  |  | Weighted-A verage Grant-Date Fair Value |
Unvested at March 31, 2014 |  |  | 257,347 |  |  | $ | 11.86 |
Stock options granted |  |  | 145,400 |  |  |  | 24.23 |
Stock options forfeited |  |  | (25,916 | ) |  |  | 17.15 |
Stock options vested |  |  | (96,013 | ) |  |  | 10.04 |
Unvested at September 30, 2014 |  |  | 280,818 |  |  |  | 18.32 |
As of September 30, 2014, there was $3,772,000 of total unrecognized compensation expense related to unvested stock options. On August 8, 2014 we adopted The Mesa Laboratories, Inc. 2014 Equity Plan (the “2014 Plan”), which was subsequently approved by our shareholders on October 2, 2014 at our 2014 Annual Meeting of Shareholders. The purpose of the 2014 Plan is to promote the success and enhance the value of the Company by linking the personal interests of our employees, officers and directors to those of our shareholders by providing such persons with an incentive for outstanding performance. A total of 1,100,000 shares of common stock were reserved for issuance under the 2014 Plan and are subject to terms as set by the Compensation Committee of the Board of Directors at the time of grant. As a result of the approval of the 2014 Plan by our shareholders, no further awards will be made under the 2006 Plan and it will remain in effect only as long as awards previously made thereunder remain outstanding.

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration