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Share-Based Compensation (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2021 | Mar. 31, 2021
Schedule of Fair Value Assumptions |  | The Company estimated the fair value of each stock option on the date of grant using the Black-Scholes closed form option-pricing model applying the weighted average assumptions in the following table.
|  | Years Ended March 31, |
Assumptions |  | 2021 |  |  | 2020 |
Expected stock price volatility |  |  | 74.84 | % |  |  | 66.47 | %
Expected risk free interest rate |  |  | 0.43 | % |  |  | 2.27 | %
Expected term, in years |  |  | 6.25 |  |  |  | 6.72 |
Expected dividend yield |  |  | — | % |  |  | — | %
Summary of Stock Option Activity | A summary of stock option activity and data under the RSL 2015 EIP for the three months ended June 30, 2021 is as follows:
|  | Number of Stock Options |  |  | Weighted Average Exercise Price |
Stock options outstanding at March 31, 2021 |  |  | 9,389,371 |  |  | $ | 26.61 |
Granted |  |  | 3,798,605 |  |  | $ | 29.26 |
Forfeited |  |  | (106,428 | ) |  | $ | 30.27 |
Stock options outstanding at June 30, 2021 |  |  | 13,081,548 |  |  | $ | 27.35 |
| A summary of stock option activity and data under the RSL 2015 EIP for the year ended March 31, 2021 is as follows:
|  | Number of Stock Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Grant Date Fair Value |  |  | Weighted Average Remaining Contractual Life |
Stock options outstanding at March 31, 2020 |  |  | 8,176,814 |  |  | $ | 24.52 |  |  | $ | 16.53 |  |  |  | 7.93 |
Granted |  |  | 1,482,604 |  |  | $ | 38.71 |  |  | $ | 25.37 |  |  |  |  |
Forfeited/Canceled |  |  | (270,047 | ) |  | $ | 29.89 |  |  | $ | 19.85 |  |  |  |  |
Stock options outstanding at March 31, 2021 |  |  | 9,389,371 |  |  | $ | 26.61 |  |  | $ | 17.90 |  |  |  | 7.26 |
Stock options exercisable at March 31, 2021 |  |  | 5,533,848 |  |  | $ | 21.52 |  |  | $ | 14.95 |  |  |  | 6.49 |
Summary of Fair Value of Vested Stock Option |  | Additional information regarding stock options is set forth below (in thousands, except per share data).
|  | Years Ended March 31, |
|  | 2021 |  |  | 2020 |
Grant date fair value of stock options vested |  | $ | 25,711 |  |  | $ | 33,789 |
Weighted-average grant date fair value per share of stock options granted |  | $ | 25.37 |  |  | $ | 20.63 |
Summary of Restricted Stock Units | A summary of restricted stock units under the RSL 2015 EIP is as follows:
|  | Number of Restricted Stock Units |
Non-vested balance at March 31, 2021 |  |  | 2,292,738 |
Granted |  |  | 5,939,340 |
Forfeited |  |  | (119,285 | )
Non-vested balance at June 30, 2021 |  |  | 8,112,793 |
| A summary of restricted stock units under the RSL 2015 EIP is as follows:
|  | Number of Restricted Stock Units |  |  | Weighted Average Grant Date Fair Value |
Non-vested balance at March 31, 2020 |  |  | 1,008,175 |  |  | $ | 32.50 |
Granted |  |  | 1,454,199 |  |  | $ | 39.19 |
Forfeited |  |  | (169,636 | ) |  | $ | 36.36 |
Non-vested balance at March 31, 2021 |  |  | 2,292,738 |  |  | $ | 36.53 |
Summary of Share-Based Compensation Expense | Share-based compensation expense was as follows (in thousands):
|  | Three Months Ended June 30, |
|  | 2021 |  |  | 2020 |
Share-based compensation expense recognized as: |  |  |  |  |  |  |  |
R&D expenses |  | $ | 1,615 |  |  | $ | 1,119 |
G&A expenses |  |  | 17,654 |  |  |  | 13,159 |
Total |  | $ | 19,269 |  |  | $ | 14,278 |
| Share-based compensation expense from continuing operations was as follows (in thousands):
|  | Years Ended March 31, |
|  | 2021 |  |  | 2020 |
Share-based compensation expense recognized as: |  |  |  |  |  |  |  |
R&D expenses |  | $ | 22,637 |  |  | $ | 7,738 |
G&A expenses |  |  | 62,321 |  |  |  | 60,013 |
Total |  | $ | 84,958 |  |  | $ | 67,751 |
Performance Options [Member] |  |
Schedule of Fair Value Assumptions |  | The Company estimated the fair value of each Performance Option on the date of grant using the Black-Scholes closed form option-pricing model applying the weighted average assumptions in the following table.
|  | Year Ended March 31, |
Assumptions |  | 2020 |
Expected stock price volatility |  |  | 73.60 | %
Expected risk free interest rate |  |  | 0.62 | %
Expected term |  |  | 6 years |
Expected dividend yield |  |  | — | %
Summary of Stock Option Activity | A summary of Performance Option activity and data under the RSL 2015 EIP for the three months ended June 30, 2021 is as follows:
|  | Number of Performance Options |  |  | Weighted Average Exercise Price |
Performance Options outstanding at March 31, 2021 |  |  | 14,425,663 |  |  | $ | 38.93 |
Granted |  |  | — |  |  | $ | — |
Forfeited |  |  | — |  |  | $ | — |
Performance Options outstanding at June 30, 2021 |  |  | 14,425,663 |  |  | $ | 38.93 |
| A summary of Performance Option activity and data under the RSL 2015 EIP for the year ended March 31, 2021 is as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Grant Date Fair Value |  |  | Weighted Average Remaining Contractual Life |
Performance Options outstanding at March 31, 2020 |  |  | 14,518,870 |  |  | $ | 38.97 |  |  | $ | 23.78 |  |  |  | 6.00 |
Granted |  |  | — |  |  | $ | — |  |  | $ | — |  |  |  |  |
Forfeited |  |  | (93,207 | ) |  | $ | 46.38 |  |  | $ | 22.18 |  |  |  |  |
Performance Options outstanding at March 31, 2021 |  |  | 14,425,663 |  |  | $ | 38.93 |  |  | $ | 23.42 |  |  |  | 5.00 |
CVARs [Member] |  |
Summary of Restricted Stock Units | A summary of CVARs under the RSL 2015 EIP is as follows:
|  | Number of CVARs |
Non-vested balance at March 31, 2021 |  |  | 11,088,658 |
Granted |  |  | — |
Forfeited |  |  | — |
Non-vested balance at June 30, 2021 |  |  | 11,088,658 |
| A summary of CVARs under the RSL 2015 EIP is as follows:
|  | Number of CVARs |  |  | Weighted Average Grant Date Fair Value |
Non-vested balance at March 31, 2020 |  |  | 11,088,658 |  |  | $ | 2.07 |
Granted |  |  | — |  |  | $ | — |
Forfeited |  |  | — |  |  | $ | — |
Non-vested balance at March 31, 2021 |  |  | 11,088,658 |  |  | $ | 2.07 |
Performance RSU [Member] |  |
Summary of Restricted Stock Units | A summary of Performance RSU activity under the pRSU Plan is as follows:
|  | Number of Performance RSUs |
Non-vested balance at March 31, 2021 |  |  | 200,000 |
Granted |  |  | — |
Forfeited |  |  | — |
Non-vested balance at June 30, 2021 |  |  | 200,000 |
| A summary of pRSU activity under the pRSU Plan is as follows:
|  | Number of pRSUs |  |  | Weighted Average Grant Date Fair Value |
Non-vested balance at March 31, 2020 |  |  | 266,845 |  |  | $ | 13.92 |
Granted |  |  | — |  |  | $ | — |
Forfeited |  |  | (66,845 | ) |  | $ | 13.92 |
Non-vested balance at March 31, 2021 |  |  | 200,000 |  |  | $ | 13.92 |
RSL Common Share Award |  |
Summary of Stock Option Activity | A summary of RSL restricted common stock activity as of June 30, 2021 is as follows:
|  | Number of Restricted Common Stock |
Non-vested balance at March 31, 2021 |  |  | 587,824 |
Granted |  |  | — |
Forfeited |  |  | — |
Non-vested balance at June 30, 2021 |  |  | 587,824 |
| A summary of RSL restricted common stock activity as of March 31, 2021 is as follows:
|  | Number of Restricted Common Stock |  |  | Weighted Average Grant Date Fair Value |
Non-vested balance at March 31, 2020 |  |  | — |  |  | $ | — |
Granted |  |  | 587,824 |  |  | $ | 38.50 |
Vested |  |  | — |  |  | $ | — |
Forfeited |  |  | — |  |  | $ | — |
Non-vested balance at March 31, 2021 |  |  | 587,824 |  |  | $ | 38.50 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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