Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes stock option activity:
Number of Shares Weighted-Average Exercise Price
(per share)		 Weighted-Average Remaining
Contractual
Life
(in years)		 Aggregate Intrinsic Value
(in thousands)
Options outstanding as of March 31, 2021
 8,146,445  $ 4.01  6.86 $ 622,249 
Granted 691,957  70.67 
Exercised (1,312,460) 3.28 
Forfeited / Expired (402,642) 26.55 
Options outstanding as of March 31, 2022
 7,123,300  $ 9.33  6.11 $ 262,419 
Exercisable as of March 31, 2022
 5,714,938  $ 4.93  5.56 $ 227,050 
Summary of RSU Activity
The following table summarizes restricted stock unit ("RSU") and restricted stock award ("RSA") activity:
Number of Shares Weighted-Average Grant Date Fair Value
Unvested restricted shares outstanding as of March 31, 2021
 333,544  $ 4.55 
Granted 388,405  39.71 
Vested (319,356) 4.94 
Forfeited (29,292) 49.68 
Unvested restricted shares outstanding as of March 31, 2022
 373,301  $ 35.82 
Schedule of Market-based Assumptions The assumptions utilized in this model during fiscal years 2022, 2021, and 2020 are presented below.
  Year ended March 31,
  2022 2021 2020
Risk-free interest rate
0.63% to 1.77%
0.21% to 0.66%
 0.64% to 2.25%
Expected life of the options
4.82 to 5.27 years
4.93 to 5.23 years
5.02 to 9.83 years
Expected volatility
72% to 72%
64% to 72%
64% to 66%
Expected dividend yield —% —% —%
Schedule of Intrinsic Value of Stock Option Total fair value of options vested and total intrinsic value of options exercised was as follows for the fiscal years presented:
  Year ended March 31,
  2022 2021 2020
Total fair value of options vested $ 11,495  $ 4,816  $ 2,577 
Total intrinsic value of options exercised (a) $ 68,163  $ 97,603  $ 10,890 
(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.