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Stock Acquisition Rights, Stock Options and Warrants (Tables)
12 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Restricted Stock and Restricted Stock Units Activity
A summary of non-vested restricted stock activity for the year ended March 31, 2022 is as follows:
Restricted
Stock
Weighted
Average
Grant Day
Fair Value
Non-vested restricted stock outstanding at March 31, 2021475,759 $42.48 
Granted362,073 50.64 
Vested(221,554)42.72 
Forfeited(71,991)44.75 
Non-vested restricted stock outstanding at March 31, 2022544,287 $47.39 
Schedule of Restricted Stock Activity
The following table reflects activity related to our restricted stock for the years ended March 31, 2022, 2021 and 2020:
202220212020
Weighted-average grant-date fair value per unit granted$50.64 $46.07 $42.86 
Fair value of restricted stock units vested (in thousands) $12,240 $8,165 $5,877 
Summary of Performance Stock Activity
A summary of the performance-based restricted stock unit activity for the year ended March 31, 2022 is as follows:
Performance StockWeighted
Average
Grant Day
Fair Value
Performance stock outstanding at March 31, 202175,049 $58.65 
Granted— — 
Vested— — 
Forfeited/cancelled— — 
Performance stock outstanding at March 31, 202275,049 $58.65 
Schedule of Performance Shares Activity
The following table reflects activity related to our performance-based restricted stock units for the years ended March 31, 2022, 2021 and 2020:
202220212020
Weighted-average grant-date fair value per unit granted$— $58.65 $46.23 
Fair value of Performance stock units vested (in thousands) $— $3,941 $— 
Schedule of Assumptions used to Calculate Fair Value of Performance-Based Restricted Units
The following assumptions were used to calculate the grant date fair value of performance-based restricted units with market price condition using the Monte Carlo simulation model:
February 1, 2021
Risk-free interest rate0.29%
Dividend yield—%
Volatility56.09%
Simulation term4 years
Forfeiture rate—%
Summary of Stock Option Activity
A summary of Stock Option activity for the year ended March 31, 2022 is as follows:
OptionsWeighted Average Exercise Price Weighted Average Contractual TermAggregate Intrinsic Value
Options outstanding at March 31, 20211,663,223 $24.96 
Options granted165,768 58.56 
Options exercised(822,750)21.92 
Options forfeited/expired— — 
Options outstanding at March 31, 20221,006,241 $32.98 5.33$25,278,510 
Exercisable at March 31, 2022720,180 $26.11 3.97$22,892,912 
Total vested or expected to vest at March 31, 20221,004,729 $32.97 5.33$25,242,985 
Schedule of Additional Information Regarding Stock Options Outstanding
Additional information regarding stock options outstanding at March 31, 2022 is as follows:


Exercise
Prices
Number OutstandingWeighted Average Remaining
Life in Years
Weighted Average
Exercise Price
Options ExercisableWeighted Average Exercise-Price
of Shares Exercisable
$20.00 $20.00 189,000 2.18$20.00 189,000 $20.00 
20.01 46.23 569,585 4.9427.44 494,710 26.74 
46.24 72.85 247,656 8.6455.60 36,470 49.25 
1,006,241 5.33$32.98 720,180 $26.11 
Schedule of Assumptions used to Calculate Fair Value of Options
The following assumptions were used to calculate the fair value of stock options:
Year EndedYear EndedYear Ended
March 31, 2022March 31, 2021March 31, 2020
Risk-free interest rate
0.92% to 0.96%
0.43% to 0.51%
0.93%
Dividend yield—%—%—%
Volatility
53.18% to 53.45%
53.41% to 52.43%
49.63%
Expected term
5.92 and 6.02 years
6.07 years5.67 years
Forfeiture rate
—%
—% to 2%
—% to 2%
Weighted-average grant-date fair value per option granted$58.56 $42.04 $46.85 
Summary of Performance Stock Options
A summary of the Performance-Based Stock Options for the year ended March 31, 2022 is as follows:
Performance OptionsWeighted Average Exercise Price
Performance Options outstanding at March 31, 202148,417 $46.85 
Performance Options granted— — 
Performance Options exercised(14,635)46.85 
Performance Options forfeited/expired— — 
Performance Options outstanding at March 31, 202233,782 $46.85 
Share Repurchase Activity
The following table presents the share repurchase activity for Fiscal 2022, Fiscal 2021 and Fiscal 2020 (in thousands, except per share data):

For the years ended March 31,
202220212020
Number of shares repurchased252 — — 
Average price paid per share*$57.50 $— $— 
Total cost to repurchase$14,962 $— $— 
* Average price paid per share includes costs associated with the repurchases.