Quarterly report pursuant to Section 13 or 15(d)

Description of Stock Plans (Tables)

v3.8.0.1
Description of Stock Plans (Tables)
 9 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Options Granted
The following table summarizes stock option activity for the Stock Plans for the periods or as of the dates indicated:
 
 
Number of
Shares
 
Weighted Average
Exercise Price (per share)
 
Weighted Average
Remaining Contractual
Life (in years)
 
Aggregate Intrinsic
Value (in thousands)
Options Outstanding, March 31, 2017
 
9,735,778

 
$
2.56

 
7.95
 
$
801

Granted
 
1,338,778

 
1.17

 
 
 
 
Forfeited / Cancelled
 
(972,299
)
 
1.91

 
 
 
 
Exercised
 
(182,769
)
 
1.05

 
 
 
 
Options Outstanding, December 31, 2017
 
9,919,488

 
2.48

 
7.36
 
4,977

Vested and expected to vest (net of estimated forfeitures) at December 31, 2017 (a)
 
8,984,997

 
2.63

 
7.19
 
4,228

Exercisable, December 31, 2017
 
5,065,645

 
$
3.81

 
5.97
 
$
1,196

(a) For options vested and expected to vest, options exercisable, and options outstanding, the aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between Digital Turbine's closing stock price on December 31, 2017 and the exercise price multiplied by the number of in-the-money options) that would have been received by the option holders, had the holders exercised their options on December 31, 2017. The intrinsic value changes based on changes in the price of the Company's common stock.
Exercise Price for Options Outstanding and Options Exercisable
Information about options outstanding and exercisable at December 31, 2017 is as follows:
 
 
Options Outstanding
 
Options Exercisable
Exercise Price
 
Number of Shares
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Life (Years)
 
Number of Shares
 
Weighted-Average Exercise Price
$0.00 - 0.50
 
7,652

 
$
0.24

 
2.23
 
7,652

 
$
0.24

$0.51 - 1.00
 
3,202,046

 
$
0.73

 
8.82
 
520,025

 
$
0.71

$1.01 - 1.50
 
2,832,305

 
$
1.27

 
8.42
 
1,215,155

 
$
1.31

$1.51 - 2.00
 
446,000

 
$
1.55

 
8.95
 
148,622

 
$
1.51

$2.01 - 2.50
 
253,779

 
$
2.43

 
3.08
 
220,445

 
$
2.42

$2.51 - 3.00
 
908,756

 
$
2.61

 
6.19
 
818,757

 
$
2.62

$3.51 - 4.00
 
907,384

 
$
3.96

 
5.75
 
850,507

 
$
3.96

$4.01 - 4.50
 
831,566

 
$
4.14

 
5.45
 
763,443

 
$
4.14

$4.51 - 5.00
 
60,000

 
$
4.65

 
5.24
 
60,000

 
$
4.65

$5.01 and over
 
470,000

 
$
16.32

 
1.01
 
461,039

 
$
16.53

 
 
9,919,488

 
 
 
 
 
5,065,645

 
 
Schedule of Intrinsic Value of stock option
Other information pertaining to stock options for the Stock Plans for the nine months ended December 31, 2017 and 2016, as stated in the table below, is as follows:
 
 
December 31,
 
 
2017
 
2016
Total fair value of options vested
 
$
2,750

 
$
2,250

Total intrinsic value of options exercised (a)
 
$
101

 
$
8

(a) The total intrinsic value of options exercised represents the total pre-tax intrinsic value (the difference between the stock price at exercise and the exercise price multiplied by the number of options exercised) that was received by the option holders who exercised their options during the nine months ended December 31, 2017 and 2016.
Fair Value of Options Granted Using the Black-Scholes Option-Pricing Model
The assumptions utilized in this model for options granted during the nine months ended December 31, 2017 are presented below.

 
December 31, 2017
Risk-free interest rate
 
 1.8% to 2.4%
Expected life of the options
 
 5.69 to 9.43 years
Expected volatility
 
68% to 73%
Expected dividend yield
 
—%
Expected forfeitures
 
20%