Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.1
Stock-Based Compensation
 3 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Equity Plan 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 415,185  73.45 
Forfeited / Cancelled (121,187) 5.40 
Exercised (178,127) 3.90 
Options outstanding as of June 30, 2021
 8,262,316  $ 7.48  6.77 $ 567,952 
Vested and expected to vest (net of estimated forfeitures) at June 30, 2021
 8,117,035  $ 7.18  6.73 $ 560,286 
Exercisable as of June 30, 2021
 5,748,775  $ 2.84  5.89 $ 420,873 
At June 30, 2021 and 2020, total unrecognized stock-based compensation expense related to unvested stock options, net of estimated forfeitures, was $23,621 and $7,658, respectively, with expected remaining weighted-average recognition periods of 2.52 years and 2.42 years, respectively.
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 279,303  42.43 
Vested (276,010) 2.51 
Cancelled (3,526) 13.88 
Unvested restricted shares outstanding as of June 30, 2021
 333,311  $ 37.88 
At June 30, 2021 and 2020, total unrecognized stock-based compensation expense related to RSUs and RSAs was $11,400 and $1,101, respectively, with expected remaining weighted-average recognition periods of 2.74 years and 2.37 years, respectively.
Stock-Based Compensation Expense
As of June 30, 2021, 11,612,158 shares of common stock were available for issuance as future awards under the Company's equity incentive plans. Stock-based compensation expense for the three months ended June 30, 2021 and 2020 was $3,705 and $1,610, respectively, and was recorded within general and administrative expenses on the condensed consolidated statements of operations and comprehensive income.