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Stock Compensation (Tables)
12 Months Ended
Mar. 31, 2024
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, 2024 is as follows:
Restricted
Stock
Weighted
Average
Grant Day
Fair Value
Non-vested restricted stock outstanding at March 31, 2023568,662 $47.93 
Granted183,789 33.45 
Vested(232,823)46.89 
Forfeited(17,054)45.38 
Non-vested restricted stock outstanding at March 31, 2024502,574 $43.19 
Schedule of Restricted Stock Activity
The following table reflects activity related to the Company’s restricted stock for the years ended March 31, 2024 and 2023:
20242023
Weighted-average grant-date fair value per unit granted$33.45 $47.85 
Fair value of restricted stock units vested (in thousands) $10,918 $12,245 
Summary of Performance Stock Activity
A summary of the performance-based restricted stock unit activity for the year ended March 31, 2024 is as follows:
Performance StockWeighted
Average
Grant Day
Fair Value
Performance stock outstanding at March 31, 202375,049 $58.65 
Granted78,683 30.89 
Vested— — 
Forfeited/cancelled— — 
Performance stock outstanding at March 31, 2024153,732 $44.44 
Schedule of Performance Shares Activity
The following table reflects activity related to the Company’s performance-based restricted stock units for the years ended March 31, 2024 and 2023:
20242023
Weighted-average grant-date fair value per unit granted$30.89 $— 
Fair value of Performance stock units vested (in thousands) $— $— 
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, 2024 is as follows:
OptionsWeighted Average Exercise Price Weighted Average Contractual TermAggregate Intrinsic Value
Options outstanding at March 31, 20231,402,949 $39.12 
Options granted306,187 36.10 
Options exercised(91,250)21.93 
Options forfeited/expired— — 
Options outstanding at March 31, 20241,617,886 $39.52 6.33$4,400,717 
Exercisable at March 31, 2024851,854 $34.94 4.10$4,400,717 
Total vested or expected to vest at March 31, 20241,616,910 $39.51 6.33$4,400,717 
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 Ended
March 31, 2024March 31, 2023
Risk-free interest rate
3.90% to 4.22%
2.95% to 3.62%
Dividend yield—%—%
Volatility
49.23% to 49.54%
50.80% to 51.60%
Expected term
5.39 years to 5.72 years
5.43 years
Forfeiture rate
—% to 3%
—% to 3%
Weighted-average grant-date fair value per option granted$36.10 $49.39 
Summary of Performance Stock Options
A summary of the Performance-Based Stock Options for the year ended March 31, 2024 is as follows:
Performance OptionsWeighted Average Exercise Price
Performance Options outstanding at March 31, 202333,782 $46.85 
Performance Options granted— — 
Performance Options exercised— — 
Performance Options forfeited/expired— — 
Performance Options outstanding at March 31, 202433,782 $46.85 
Share Repurchase Activity
The following table presents the share repurchase activity for Fiscal 2024 and Fiscal 2023 (in thousands, except per share data):

For the years ended March 31,
20242023
Number of shares repurchased and retired736 216 
Average price paid per share*$33.72 $47.05 
Total cost to repurchase$24,676 $8,223 
* Average price paid per share includes costs associated with the repurchases.