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Note 7 - Stockholders' Equity | 6 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
Share-Based Payment Arrangement [Text Block] | Note 7. Stockholders' Equity Stock-Based Compensation On August 22, 2025, our shareholders approved an amendment to the Mesa Laboratories Inc. 2021 Amended and Restated Equity Incentive Plan (the "2021 Equity Plan"), increasing the number of shares authorized for issuance from 660 shares to 1,156 shares, an increase of 496 shares. During the six months ended September 30, 2025, we issued time-based restricted stock units ("RSUs") and performance-based restricted stock units ("PSUs") pursuant to the 2021 Equity Plan. Stock-based compensation expense is included in cost of revenues, selling, general and administrative, and research and development expense in the accompanying unaudited Condensed Consolidated Statements of Income. The following is a summary of RSU and PSU award activity for the six months ended September 30, 2025:
|  | Time-Based Restricted Stock Units |  |  | Performance-Based Restricted Stock Units |
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value per Share |  |  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value per Share |
Nonvested as of March 31, 2025 |  |  | 145 |  |  | $ | 106.54 |  |  |  | 85 |  |  | $ | 166.31 |
Awards granted(1) |  |  | 108 |  |  |  | 90.87 |  |  |  | 44 |  |  |  | 99.56 |
Awards forfeited |  |  | (5 | ) |  |  | 98.14 |  |  |  | - |  |  |  | - |
Awards distributed |  |  | (62 | ) |  |  | 116.85 |  |  |  | (4 | ) |  |  | 174.73 |
Nonvested as of September 30, 2025 |  |  | 186 |  |  | $ | 94.13 |  |  |  | 125 |  |  | $ | 142.39 |
(1) | Balances for PSUs granted are reflected at target.
Time-based RSUs vest and settle in shares of our common stock on a one-for-one basis. The significant majority of RSUs granted to employees during the six months ended September 30, 2025 vest in equal installments on June 15, 2026, June 13, 2027 and June 13, 2028. RSUs granted to non-employee directors during the six months ended September 30, 2025 vest one year from the grant date. We generally recognize expense relating to RSUs, net of estimated forfeitures, on a straight-line basis over the vesting period. For time-based RSUs granted to participants who qualify as retirement-eligible under the 2021 Equity Plan, we recognize expense either upon grant or over a shortened service period, depending on the retirement notification requirements applicable to participants. During the six months ended September 30, 2025, the Compensation Committee of the Board of Directors approved a grant of 44 PSUs at target (“the FY26 PSUs”) to eligible employees. The FY26 PSUs are subject to market-based performance conditions and service conditions. The market performance measurement period and service period is from June 15, 2025 through June 15, 2028. The number of shares that will be earned based on market performance will range from 0% to 200% of the target number of shares. If defined minimum targets are not met, no shares will vest. As of September 30, 2025, there were 134 shares subject to options outstanding, with a weighted average exercise price per share of $191.02, an intrinsic value of $0 and a remaining contractual life of 2.5 years. Our Compensation Committee has not granted options to any plan participants in the current or prior fiscal year.

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