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Stock Plans | 6 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Stock Plans | Note 10. Stock Plans In May 2019, the Company’s Board of Directors (“Board”) authorized a stock repurchase program allowing for the repurchase of up to $8.0 million of the Company’s outstanding shares of common stock in open market purchases, privately negotiated transactions, or through other structures in accordance with applicable federal securities laws. The authorization was effective immediately. The timing and actual number of shares will depend on a variety of factors, including stock price, corporate and regulatory requirements and other market and economic conditions. The Company’s stock repurchase program may be suspended or discontinued at any time. In August 2019, the Company’s Board authorized an additional repurchase of up to $1.0 million of the Company’s outstanding shares. On September 5, 2024, the Company settled in cash with the dissenting shareholders to repurchase the 652,249 Dissenting Shares at a price per share of $8.63, or $5.6 million (as discussed in Note 2). The Dissenting Shares were retained by the Company to be included within treasury stock. The table below summarizes treasury share transactions for the Company:
|  | Three Months Ended September 30, (in thousands) |
|  | 2024 |  |  | 2023 |
|  | Number of Shares |  |  | Amount |  |  | Number of Shares |  |  | Amount |
Treasury shares at the beginning of period |  |  | 5,368 |  |  | $ | (76,794 | ) |  |  | 5,368 |  |  | $ | (76,794 | )
Treasury shares purchased |  |  | 652 |  |  |  | (5,629 | ) |  |  | - |  |  |  | - |
Treasury shares at the end of period |  |  | 6,020 |  |  | $ | (82,423 | ) |  |  | 5,368 |  |  | $ | (76,794 | )
|  | Six Months Ended September 30, (in thousands) |
|  | 2024 |  |  | 2023 |
|  | Number of Shares |  |  | Amount |  |  | Number of Shares |  |  | Amount |
Treasury shares at the beginning of period |  |  | 5,368 |  |  | $ | (76,794 | ) |  |  | 5,368 |  |  | $ | (76,794 | )
Treasury shares purchased |  |  | 652 |  |  |  | (5,629 | ) |  |  | - |  |  |  | - |
Treasury shares at the end of period |  |  | 6,020 |  |  | $ | (82,423 | ) |  |  | 5,368 |  |  | $ | (76,794 | )

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505-30/tableOfContent + Details
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