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Share-based Payments (Tables) | 3 Months Ended
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Jun. 30, 2024
Share-based Payments [Abstract] |
Stock Option Transactions | The following is a summary of stock option transactions:
|  | Number of |  |  | Weighted Average |
|  | Shares |  |  | Exercise Price |
Outstanding at March 31, 2024 |  |  | 1,108,017 |  |  | $ | 20.29 |
Granted |  |  | - |  |  | $ | - |
Exercised |  |  | - |  |  | $ | - |
Forfeited/Cancelled |  |  | (1,383 | ) |  | $ | 17.29 |
Expired |  |  | (36,733 | ) |  | $ | 22.93 |
Outstanding at June 30, 2024 |  |  | 1,069,901 |  |  | $ | 20.21 |
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, 2024 |  |  | 240,923 |  |  | $ | 12.23 |
Granted |  |  | 207,050 |  |  | $ | 6.69 |
Vested |  |  | (86,559 | ) |  | $ | 16.63 |
Forfeited/Cancelled |  |  | (762 | ) |  | $ | 11.04 |
Outstanding at June 30, 2024 |  |  | 360,652 |  |  | $ | 8.00 |
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 these awards subject to market conditions:
|  | Three Months Ended |
|  | June 30, |
|  | 2024 |  |  | 2023 |
Risk free interest rate |  |  | 4.45 | % |  |  | 4.32 | %
Expected life in years |  |  | 3.0 |  |  |  | 0.8-1.8 |
Expected volatility of MPA common stock |  |  | 59.80 | % |  |  | 54.20 | %
Average correlation coefficient of peer companies |  |  | 16.50 | % |  |  | - | %
Expected dividend yield |  |  | - |  |  |  | - |
Grant date fair value |  | $ | 8.65 |  |  | $ | 3.57-5.06 |
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, 2024 |  |  | 773,923 |  |  | $ | 7.73 |
Granted |  |  | 155,391 |  |  | $ | 8.65 |
Added by performance factor |  |  | 10,952 |  |  | $ | 22.27 |
Vested |  |  | (32,848 | ) |  | $ | 22.27 |
Forfeited/Cancelled |  |  | (52,137 | ) |  | $ | 23.27 |
Outstanding at June 30, 2024 |  |  | 855,281 |  |  | $ | 6.58 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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