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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay Versus Performance Table
The following table sets forth information concerning the compensation of our named executive officers (NEOs) for each of the fiscal years ended March 31, 2021, 2022, 2023 and 2024, and our financial performance for each such fiscal year:
Year
Summary
Compensation
Table Total for
PEO
($)
Compensation
Actually Paid to
PEO
($)(1)(2)
Average
Summary
Compensation
Table Total for
Non-PEO NEOs
($)
Average
Compensation
Actually Paid to
Non-PEO NEOs
($)(1)(2)
Value of Initial Fixed $100
Investment Based on:
Net Income
($M)
Cash from
Operating
Activities
($M)(4)
Total
Shareholder
Return
($)
Peer Group
Total
Shareholder
Return
($)(3)
2024
$2,526,062
$2,450,091
$674,126
$668,556
$64
$258
$(49)
$39
2023
$2,830,752
$69,201
$630,959
$364,826
$59
$234
$(4)
$(22)
2022
$4,334,649
$3,535,526
$776,186
$677,328
$142
$222
$7
$(45)
2021
$4,674,829
$4,715,471
$627,465
$800,010
$179
$179
$21
$56
(1)
Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year:
Year
PEO
Non-PEO NEOs
2024
Selwyn Joffe
David Lee, Doug Schooner, Juliet Stone, and Kamlesh Shah
2023
Selwyn Joffe
David Lee, Richard Mochulsky, Doug Schooner, and Juliet Stone
2022
Selwyn Joffe
David Lee, Richard Mochulsky, Doug Schooner, and Juliet Stone
2021
Selwyn Joffe
David Lee, Richard Mochulsky, Doug Schooner, and Juliet Stone
Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:
 
2024
Adjustments
PEO
Average Non-
PEO NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY
$(902,144)
$(164,355)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End
$1,105,681
$205,860
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date
$0
$0
Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End
$(171,862)
$(33,158)
Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date
$(107,646)
$(13,917)
Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End
n/a
n/a
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date
n/a
n/a
Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY
n/a
n/a
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable FY
n/a
n/a
Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans
n/a
n/a
TOTAL ADJUSTMENTS
$(75,971)
$(5,570)
(2)
Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for solely service-vesting RSU awards, the closing price per share on the applicable year-end date(s) or, in the case of vesting dates, the closing price per share on the applicable vesting date(s); (ii) for performance-based RSU/RS awards (excluding any market-based awards), the same valuation methodology as RS/RSU awards above except that the year-end values are multiplied by the probability of achievement of the applicable performance objective as of the applicable date; (iii) for market-based awards, the fair value calculated by a Monte Carlo simulation model as of the applicable year-end date(s), which utilizes multiple input variables, including expected volatility of our stock price and other assumptions appropriate for determining fair value, to estimate the probability of satisfying the performance objective established for the award, including the expected volatility of our stock price relative to the applicable comparative index and a risk-free interest rate derived from linear interpolation of the term structure of Treasury Constant Maturities yield rates for the applicable period and (iv) for stock options, a Black Scholes value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life set equal to the remaining life of the award in the case of underwater stock options and, in the case
of in the money options, an expected life equal to the original ratio of expected life relative to the ten year contractual life multiplied times the remaining life as of the applicable revaluation date, and in all cases based on volatility and risk free rates determined as of the revaluation date based on the expected life period and based on an expected dividend rate of 0%. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024 and prior fiscal years.
(3)
For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the Zacks Retail and Wholesale Auto Parts Index.
(4)
Cash from operating activities is a GAAP measure. An explanation of how the Company determines cash from operating activities is included in Appendix A and ties to the Company’s 8-K filing, of the press release to our earnings release made on June 11, 2024.
     
Company Selected Measure Name Cash from operating activities      
Named Executive Officers, Footnote
(1)
Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year:
Year
PEO
Non-PEO NEOs
2024
Selwyn Joffe
David Lee, Doug Schooner, Juliet Stone, and Kamlesh Shah
2023
Selwyn Joffe
David Lee, Richard Mochulsky, Doug Schooner, and Juliet Stone
2022
Selwyn Joffe
David Lee, Richard Mochulsky, Doug Schooner, and Juliet Stone
2021
Selwyn Joffe
David Lee, Richard Mochulsky, Doug Schooner, and Juliet Stone
     
Peer Group Issuers, Footnote
(3)
For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the Zacks Retail and Wholesale Auto Parts Index.
     
PEO Total Compensation Amount $ 2,526,062 $ 2,830,752 $ 4,334,649 $ 4,674,829
PEO Actually Paid Compensation Amount $ 2,450,091 69,201 3,535,526 4,715,471
Adjustment To PEO Compensation, Footnote
Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:
 
2024
Adjustments
PEO
Average Non-
PEO NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY
$(902,144)
$(164,355)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End
$1,105,681
$205,860
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date
$0
$0
Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End
$(171,862)
$(33,158)
Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date
$(107,646)
$(13,917)
Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End
n/a
n/a
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date
n/a
n/a
Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY
n/a
n/a
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable FY
n/a
n/a
Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans
n/a
n/a
TOTAL ADJUSTMENTS
$(75,971)
$(5,570)
     
Non-PEO NEO Average Total Compensation Amount $ 674,126 630,959 776,186 627,465
Non-PEO NEO Average Compensation Actually Paid Amount $ 668,556 364,826 677,328 800,010
Adjustment to Non-PEO NEO Compensation Footnote
Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:
 
2024
Adjustments
PEO
Average Non-
PEO NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY
$(902,144)
$(164,355)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End
$1,105,681
$205,860
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date
$0
$0
Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End
$(171,862)
$(33,158)
Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date
$(107,646)
$(13,917)
Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End
n/a
n/a
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date
n/a
n/a
Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY
n/a
n/a
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable FY
n/a
n/a
Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans
n/a
n/a
TOTAL ADJUSTMENTS
$(75,971)
$(5,570)
     
Equity Valuation Assumption Difference, Footnote
(2)
Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for solely service-vesting RSU awards, the closing price per share on the applicable year-end date(s) or, in the case of vesting dates, the closing price per share on the applicable vesting date(s); (ii) for performance-based RSU/RS awards (excluding any market-based awards), the same valuation methodology as RS/RSU awards above except that the year-end values are multiplied by the probability of achievement of the applicable performance objective as of the applicable date; (iii) for market-based awards, the fair value calculated by a Monte Carlo simulation model as of the applicable year-end date(s), which utilizes multiple input variables, including expected volatility of our stock price and other assumptions appropriate for determining fair value, to estimate the probability of satisfying the performance objective established for the award, including the expected volatility of our stock price relative to the applicable comparative index and a risk-free interest rate derived from linear interpolation of the term structure of Treasury Constant Maturities yield rates for the applicable period and (iv) for stock options, a Black Scholes value as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair value but using the closing stock price on the applicable revaluation date as the current market price and with an expected life set equal to the remaining life of the award in the case of underwater stock options and, in the case
of in the money options, an expected life equal to the original ratio of expected life relative to the ten year contractual life multiplied times the remaining life as of the applicable revaluation date, and in all cases based on volatility and risk free rates determined as of the revaluation date based on the expected life period and based on an expected dividend rate of 0%. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024 and prior fiscal years.
     
Compensation Actually Paid vs. Total Shareholder Return
Relationship Between Financial Performance Measures
The graphs below compare the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs, with (i) our cumulative TSR, (ii) our Peer Group TSR, (iii) our net income, and (iv) Cash from operating activities, in each case, for the fiscal years ended March 31, 2021, 2022, 2023 and 2024.
TSR amounts reported in the graph assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.

     
Compensation Actually Paid vs. Net Income
Relationship Between Financial Performance Measures
The graphs below compare the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs, with (i) our cumulative TSR, (ii) our Peer Group TSR, (iii) our net income, and (iv) Cash from operating activities, in each case, for the fiscal years ended March 31, 2021, 2022, 2023 and 2024.

     
Compensation Actually Paid vs. Company Selected Measure
Relationship Between Financial Performance Measures
The graphs below compare the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs, with (i) our cumulative TSR, (ii) our Peer Group TSR, (iii) our net income, and (iv) Cash from operating activities, in each case, for the fiscal years ended March 31, 2021, 2022, 2023 and 2024.

     
Total Shareholder Return Vs Peer Group
Relationship Between Financial Performance Measures
The graphs below compare the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs, with (i) our cumulative TSR, (ii) our Peer Group TSR, (iii) our net income, and (iv) Cash from operating activities, in each case, for the fiscal years ended March 31, 2021, 2022, 2023 and 2024.
TSR amounts reported in the graph assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.

     
Tabular List, Table
Pay Versus Performance Tabular List
We believe the following performance measures represent the most important financial performance measures used by us to link compensation actually paid to our NEOs for the fiscal year ended March 31, 2024:
Cash from Operating Activities;
EBITDA after adjustments;
Absolute Shareholder Return; and
Gross Profit after adjustments
For additional details regarding our most important financial performance measures, please see the introduction to our Compensation Discussion and Analysis (CD&A), as well as the sections titled “Actions Taken” and “Say on Pay Vote” elsewhere in this Proxy Statement.
     
Total Shareholder Return Amount $ 64 59 142 179
Peer Group Total Shareholder Return Amount 258 234 222 179
Net Income (Loss) $ (49,000,000) $ (4,000,000) $ 7,000,000 $ 21,000,000
Company Selected Measure Amount 39,000,000 (22,000,000) (45,000,000) 56,000,000
PEO Name Selwyn Joffe Selwyn Joffe Selwyn Joffe Selwyn Joffe
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term 10 years      
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00%      
Measure:: 1        
Pay vs Performance Disclosure        
Name Cash from Operating Activities      
Measure:: 2        
Pay vs Performance Disclosure        
Name EBITDA after adjustments      
Measure:: 3        
Pay vs Performance Disclosure        
Name Absolute Shareholder Return      
Measure:: 4        
Pay vs Performance Disclosure        
Name Gross Profit after adjustments      
PEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (75,971)      
PEO | Amounts Reported under the "Stock Awards" and "Option Awards" Columns in the Summary Compensation Table for Applicable FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (902,144)      
PEO | ASC 718 Fair Value of Awards Granted During Applicable FY that Remain Unvested as of Applicable FY End, Determined as of Applicable FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,105,681      
PEO | ASC 718 Fair Value of Awards Granted During Applicable FY that Vested During Applicable FY, Determined as of Vesting Date [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Awards Granted During Prior FY that were Outstanding and Unvested as of Applicable FY End, Determined Based on Change in ASC 718 Fair Value from Prior FY End to Applicable FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (171,862)      
PEO | Awards Granted During Prior FY that Vested During Applicable FY, Determined Based on Change in ASC 718 Fair Value from Prior FY End to Vesting Date [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (107,646)      
Non-PEO NEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (5,570)      
Non-PEO NEO | Amounts Reported under the "Stock Awards" and "Option Awards" Columns in the Summary Compensation Table for Applicable FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (164,355)      
Non-PEO NEO | ASC 718 Fair Value of Awards Granted During Applicable FY that Remain Unvested as of Applicable FY End, Determined as of Applicable FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 205,860      
Non-PEO NEO | ASC 718 Fair Value of Awards Granted During Applicable FY that Vested During Applicable FY, Determined as of Vesting Date [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Awards Granted During Prior FY that were Outstanding and Unvested as of Applicable FY End, Determined Based on Change in ASC 718 Fair Value from Prior FY End to Applicable FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (33,158)      
Non-PEO NEO | Awards Granted During Prior FY that Vested During Applicable FY, Determined Based on Change in ASC 718 Fair Value from Prior FY End to Vesting Date [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (13,917)