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Subsequent Events
6 Months Ended
Sep. 30, 2019
Subsequent Events [Abstract]  
Subsequent Events

Note 18 — Subsequent Events

 

Effective October 20, 2019, the Company's board of directors elected Bridget Baker as a director of the Company. The board determined that Ms. Baker is an "independent" director pursuant to the definition of independence under Rule 5605(a)(2) of the Nasdaq Listing Rules. The board also appointed Ms. Baker to the Compensation Committee of the board.

 

In consideration of Ms. Baker's agreement to join the board, the Company approved the grant to her of 60,900 restricted stock units (the "RSUs"), which shall vest on November 30, 2020, subject to her continued service on the board through such vesting date. The RSUs will be issued under the Company's 2016 Equity Incentive Plan (as amended, the "Plan"). Each RSU represents a contingent right to receive one share of the Company's common stock or the cash value thereof. The board, in its sole discretion, will determine in accordance with the terms and conditions of the Plan the form of payout of the RSUs (cash and/or stock). Ms. Baker will also be entitled to participate in the annual compensation package that the Company provides to its other non-employee directors.