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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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