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Share-based Payments (Tables) | 6 Months Ended
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Sep. 30, 2022
Share-based Payments [Abstract] |
Stock Option Transactions | The following is a summary of stock option transactions:
|  | Number of Shares |  |  | Weighted Average Exercise Price |
Outstanding at March 31, 2022 |  |  | 1,695,499 |  |  | $ | 17.53 |
Granted |  |  | - |  |  | $ | - |
Exercised |  |  | (309,191 | ) |  | $ | 6.59 |
Forfeited/Cancelled |  |  | (92,712 | ) |  | $ | 18.70 |
Expired |  |  | (3,000 | ) |  | $ | 9.85 |
Outstanding at September 30, 2022 |  |  | 1,290,596 |  |  | $ | 20.08 |
Restricted Stock Units Activity | The following is a summary of non-vested RSUs:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding at March 31, 2022 |  |  | 399,063 |  |  | $ | 19.98 |
Granted |  |  | 276,353 |  |  | $ | 13.14 |
Vested |  |  | (174,781 | ) |  | $ | 20.51 |
Forfeited/Cancelled |  |  | (51,652 | ) |  | $ | 20.18 |
Outstanding at September 30, 2022 |  |  | 448,983 |  |  | $ | 15.54 |
Monte Carlo Valuation Model Assumptions used in Determining Fair Value of TSR Awards | The following table summarizes the assumptions used in determining the fair value of the TSR awards:
|  | Six Months Ended September 30, |
|  | 2022 |  |  | 2021 |
Risk free interest rate |  |  | 3.35 | % |  |  | 0.47 | %
Expected life in years |  |  | 3 |  |  |  | 3 |
Expected volatility of MPA common stock |  |  | 51.30 | % |  |  | 53.70 | %
Expected average volatility of peer companies |  |  | 62.70 | % |  |  | 59.30 | %
Average correlation coefficient of peer companies |  |  | 27.50 | % |  |  | 26.70 |
Expected dividend yield |  |  | - |  |  |  | - |
Grant date fair value |  | $ | 16.02 |  |  | $ | 26.89 |
Performance Stock Units Activity | The following is a summary of non-vested PSUs:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding at March 31, 2022 |  |  | 84,593 |  |  | $ | 23.19 |
Granted |  |  | 126,028 |  |  | $ | 14.00 |
Vested |  |  | - |  |  | $ | - |
Forfeited |  |  | (4,808 | ) |  | $ | 23.19 |
Outstanding at September 30, 2022 |  |  | 205,813 |  |  | $ | 17.57 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of equity instruments other than options , including, but not limited to: (a) expected term of instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References No definition available. + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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