Annual report pursuant to Section 13 and 15(d)

Description of Stock Plans (Tables)

v3.21.1
Description of Stock Plans (Tables)
12 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Restricted Stock Units Activity
Number of Shares Weighted-Average Grant Date Fair Value
Unvested restricted units outstanding as of March 31, 2020 293,525  $ 2.48 
Granted 109,034  6.42 
Vested (91,570) 2.47 
Cancelled —  — 
Unvested restricted units outstanding as of March 31, 2021 310,989  $ 3.87 
Summary of Options Granted The following table summarizes stock option activity for the Stock Plans during the years ended March 31, 2021 and 2020:
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, 2019 9,128,885  $ 1.80  7.31 $ 16,347 
Granted 2,624,244  5.00 
Forfeited / Canceled (488,952) 2.05 
Exercised (2,279,747) 1.70 
Options Outstanding, March 31, 2020 8,984,430  2.75  7.17 16,517 
Granted 1,999,997  8.49 
Forfeited / Canceled (331,599) 5.61 
Exercised (2,506,383) 2.87 
Options Outstanding, March 31, 2021 8,146,445  $ 4.01  6.86 $ 622,249 
Vested and expected to vest (net of estimated forfeitures) at March 31, 2021 (a) 7,994,718  $ 3.92  6.82 $ 611,356 
Exercisable, March 31, 2021 5,469,049  $ 2.39  5.92 $ 426,418 
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 March 31, 2021 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 March 31, 2021. The intrinsic value changes based on changes in the price of Digital Turbine's common stock.
Exercise Price for Options Outstanding and Options Exercisable Information about options outstanding and exercisable at March 31, 2021 is as follows:
Options Outstanding Options Exercisable
Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Life (Years) Number of Shares Weighted-Average Exercise Price
$0.01 - 5.00
5,578,097  2.13  5.91 4,908,281  1.96 
$5.01 - 10.00
2,314,183  5.66  8.85 547,958  5.61 
$10.01 - 15.00
126,272  13.43  9.27 —  — 
$15.01 - 20.00
31,288  15.54  9.35 5,959  15.54 
$20.01 - and over
96,605  56.69  9.80 6,851  41.25 
8,146,445  4.01 6.86 5,469,049  2.39
Schedule of Intrinsic Value of stock option
Other information pertaining to stock options for the Stock Plans is as follows:
  Year ended March 31,
  2021 2020 2019
Total fair value of options vested $ 4,816  $ 2,577  $ 1,977 
Total intrinsic value of options exercised (a) $ 97,603  $ 10,890  $ 603 
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 fiscal year.
Fair Value of Options Granted Using the Black-Scholes Option-Pricing Model The assumptions utilized in this model during fiscal years 2021, 2020, and 2019 are presented below.
  Year ended March 31,
  2021 2020 2019
Risk-free interest rate
0.21% to 0.66%
0.64% to 2.25%
 2.38% to 2.96%
Expected life of the options
4.93 to 5.23 years
5.02 to 9.83 years
5.52 to 9.19 years
Expected volatility
64% to 72%
64% to 66%
66%
Expected dividend yield —% —% —%
Expected forfeitures
6%-7%
29% 29%
Stock Compensation Expense
Total stock compensation expense for the Company’s equity plans, which includes stock options, restricted stock, and warrants issued, is included in the following Consolidated Statements of Operations and Comprehensive Income / (Loss) component. See Note "Capital Stock Transactions" regarding restricted stock.
Year ended March 31,
2021 2020 2019
General and administrative $ 5,876  $ 3,353  $ 2,531