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Note 8 - Stock Based Compensation

6 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

8. Stock Based Compensation

Air T, Inc. maintains a stock option plan for the benefit of certain eligible employees and directors, though

no

awards

may

be granted under the plan after

July 29, 2015.

In addition, Delphax maintains a number of stock option plans. Compensation expense is recognized over the requisite service period for stock options which are expected to vest based on their grant-date fair values. The Company uses the Black-Scholes option pricing model to value stock options granted under the Air T, Inc. plan and the Delphax plans. The key assumptions for this valuation method include the expected term of the option, stock price volatility, risk-free interest rate and dividend yield. Many of these assumptions are judgmental and highly sensitive in the determination of compensation expense.

No

options were granted or exercised under Air T, Inc.

’s stock option plan during the

six

-month periods ended

September 30, 2016

and

2015.

Stock-based compensation expense with respect to this plan in the amount of

$0

was recognized for the

six

-month periods ended

September 30, 2016

and

2015,

respectively. At

September 30, 2016,

there was

no

unrecognized compensation expense related to the Air T Inc. stock options. During the quarter ended

September 30, 2016,

30,000

stock options expired.

A summary of stock option activity occurring during the

three

months ended

September 30, 2016

is presented below:

		Shares
Outstanding as of March 31, 2016			40,000
Activity during the three months ended September 30, 2016
Granted			-
Exercised			-
Canceled (forfeited/expired)			(30,000	)
Outstanding as of September 30, 2016			10,000
Exerciseable as of September 30, 2016			10,000

No

options were granted or exercised during the

September 2016

quarter under any of Delphax

’s stock option plans. Delphax did

not

recognize any stock-based compensation expense during the

September 2016

quarter.

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
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-URI http://asc.fasb.org/subtopic&trid=2208855

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X

- References

No definition available.

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