Quarterly report pursuant to Section 13 or 15(d)

Description of Stock Plans (Tables)

v3.20.4
Description of Stock Plans (Tables)
 9 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of RSU 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 (77,321) 2.49 
Cancelled —  — 
Unvested restricted units outstanding as of December 31, 2020 325,238  $ 3.91 
Summary of Stock Option Activity
The following table summarizes stock option activity for Digital Turbine's Incentive 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, 2020 8,984,430  $ 2.75  7.17 $ 16,517 
Granted 1,937,462  6.47 
Forfeited / Cancelled (282,840) 5.58 
Exercised (1,979,387) 2.99 
Options Outstanding, December 31, 2020 8,659,665  3.44  7.11 460,038 
Vested and expected to vest (net of estimated forfeitures) at December 31, 2020 (a) 7,784,550  3.14  6.90 415,871 
Exercisable, December 31, 2020 4,870,289  $ 2.43  6.10 $ 263,634 
(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, 2020 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, 2020. The intrinsic value changes based on changes in the price of the Company's common stock.
Summary of Exercise Price
Information about options outstanding and exercisable at December 31, 2020 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 - 5.00
 6,008,608  $ 2.09  6.22 4,417,792  $ 2.08 
$5.01 - 10.00
 2,458,446  $ 5.67  9.10 446,846  $ 5.65 
$10.01 - 15.00
 126,272  $ 13.43  9.52 —  $ — 
$15.01 - 20.00
 31,681  $ 15.54  9.53 3,734  $ 15.54 
$30.01 - and over
 34,658  $ 30.03  9.83 1,917  $ 30.03 
8,659,665  3.44  7.11 4,870,289  2.43 
Schedule of Options Vested and Intrinsic Value of Options Exercised
Other information pertaining to stock options for Digital Turbine's Incentive Plans for the nine months ended December 31, 2020 and 2019, as stated in the table below, is as follows:
December 31,
  2020 2019
Total fair value of options vested $ 3,340  $ 2,028 
Total intrinsic value of options exercised (a) $ 52,657  $ 10,364 
(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, 2020 and 2019.
Schedule of Market-based Assumptions The assumptions utilized in this model for options granted during the nine months ended December 31, 2020 are presented below.
December 31, 2020
Risk-free interest rate
0.21% to 0.36%
Expected life of the options
5.02 to 5.23 years
Expected volatility
64% to 69%
Expected dividend yield —%
Expected forfeitures
28% to 29%