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Stock-based compensation | 6 Months Ended
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Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Stock-based compensation | Stock-based compensation Service-based vesting stock options The following table summarizes the activity for options that vest solely based upon the satisfaction of a service condition for the six months ended September 30, 2021:
| Shares subject to options outstanding |  | Weighted-average exercise price |  | Weighted-average remaining contractual life (in years) |  | Aggregate intrinsic values (in thousands)
Balance as of March 31, 2021 | 1,640,981 |  |  | $ | 14.86 |  |  |  |  |
Exercised | (92,832) |  |  | 11.12 |  |  |  |  |
Balance as of September 30, 2021 | 1,548,149 |  |  | $ | 15.08 |  |  | 5.6 |  | $ | 21,627 |
Exercisable, September 30, 2021 | 1,267,031 |  |  | $ | 15.23 |  |  | 5.2 |  | $ | 17,514 |
The aggregate intrinsic value is calculated as the difference between the exercise price of the options and the Company's closing stock price of $29.05, as reported on the New York Stock Exchange on September 30, 2021. The Company recognized stock-based compensation cost related to service-based vesting options of $0.2 million and $0.5 million in the three and six months ended September 30, 2021, respectively, and $0.5 million and $1.1 million in the three and six months ended September 30, 2020, respectively. As of September 30, 2021, there was $1.0 million of total unrecognized stock-based compensation cost related to unvested service-based stock options, which is expected to be recognized over the remaining weighted-average period of 1.7 years. All stock-based compensation cost is recorded in selling, general and administrative expenses. Performance-based and market-based vesting stock options The following table summarizes the activity for stock options that vest based upon the satisfaction of performance- or market-based vesting conditions for the six months ended September 30, 2021:
| Shares subject to options outstanding |  | Weighted-average exercise price |  | Weighted-average remaining contractual life (in years) |  | Aggregate intrinsic values (in thousands)
Balance as of March 31, 2021 | 1,108,592 |  |  | $ | 8.72 |  |  |  |  |
Exercised | (92,565) |  |  | 2.08 |  |  |  |  |
Balance as of September 30, 2021 | 1,016,027 |  |  | $ | 9.33 |  |  | 3.5 |  | $ | 20,039 |
Exercisable, September 30, 2021 | 716,027 |  |  | $ | 1.99 |  |  | 2.8 |  | $ | 19,376 |
The aggregate intrinsic value is calculated as the difference between the exercise price of the options and the Company's closing stock price of $29.05, as reported on the New York Stock Exchange on September 30, 2021. As of September 30, 2021 and September 30, 2020, there was no unrecognized compensation cost related to stock options with performance-based and market-based vesting conditions. Restricted stock and RSUs The following table summarizes the activities for restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the six months ended September 30, 2021:
| RSUs and shares of restricted stock outstanding |  | Weighted-average grant date fair value
Balance as of March 31, 2021 | 2,289,615 |  |  | $ | 14.67 |
Granted | 834,638 |  |  | 27.81 |
Vested | (463,596) |  |  | 15.00 |
Canceled or forfeited | (144,923) |  |  | 15.35 |
Balance as of September 30, 2021 | 2,515,734 |  |  | $ | 18.93 |
As of September 30, 2021, there were 986,361 unvested shares subject to RSAs outstanding. The Company recognized stock-based compensation cost related to RSAs and RSUs of $4.9 million and $8.9 million in the three and six months ended September 30, 2021, respectively, and $4.9 million and $8.9 million in the three and six months ended September 30, 2020, respectively. As of September 30, 2021, there was $37.9 million of total unrecognized stock-based compensation cost related to unvested RSAs and RSUs, which is expected to be recognized over a weighted-average period of 2.3 years.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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