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Share-based Compensation (Tables) | 9 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-Based Payment Award, Valuation Assumptions | The table below summarizes the key inputs used in the valuation of the BMP Equity Units granted during the nine months ended December 31, 2022:
Unobservable Inputs |  |  |  | Nine Months Ended December 31, 2022
Expected term in years |  |  |  | 4
Discount rate |  |  |  | 32.1%
Discount for lack of marketability |  |  |  | 23.1%
Long-term growth rate (after discrete projection period) |  |  |  | 2.5%
Share-Based Payment Arrangement, Activity | The following table summarizes the award activity, in units, for the BMP and Ben Equity Incentive Plans during the nine months ended December 31, 2023:
| BMP |  | RSU
(units in thousands) | Units |  | Weighted Average Grant Date Fair Value per Unit |  | Units |  | Weighted Average Grant Date Fair Value per Unit
Balance, March 31, 2023 | 438 |  |  | $ | 10.04 |  |  | 1,749 |  |  | $ | 10.00 |
Granted during the period | — |  |  | — |  |  | 4,060 |  |  | 2.73 |
Vested during the period | (181) |  |  | 9.78 |  |  | (3,059) |  |  | 4.95 |
Forfeited during the period | (48) |  |  | 10.47 |  |  | (552) |  |  | 4.32 |
Balance, December 31, 2023 | 209 |  |  | $ | 9.95 |  |  | 2,198 |  |  | $ | 4.97 |
Share-Based Payment Arrangement, Cost by Plan | The following table presents the components of share-based compensation expense, included in employee compensation and benefits, recognized in the consolidated statements of comprehens ive income (loss) for the three and nine months ended December 31, 2023 and 2022:
|  | Three Months Ended December 31, |  | Nine Months Ended December 31,
(dollars in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
BMP equity units |  | $ | 305 |  |  | $ | 806 |  |  | $ | 1,549 |  |  | $ | 3,506 |
Restricted stock units |  | 1,165 |  |  | 826 |  |  | 17,206 |  |  | 3,512 |
Preferred equity |  | 286 |  |  | 286 |  |  | 858 |  |  | 1,144 |
Other(1) |  | 270 |  |  | — |  |  | 17,917 |  |  | — |
Total share-based compensation |  | $ | 2,026 |  |  | $ | 1,918 |  |  | $ | 37,530 |  |  | $ | 8,162 |
(1) The year-to-date period includes $15.0 million of compensation recognized related to the BCG Recapitalization and $2.9 million recognized for equity based compensation issued to employees for Ben Liquidity transactions.
Share-Based Payment Arrangement, Nonvested Award, Cost | The following table presents the share-based compensation expense expected to be recognized over the next five fiscal years ending March 31 for awards outstanding as of December 31, 2023:
(dollars in thousands) | BMP |  | RSU |  |  |  | Commissions |  | Total
Three months ending 2024 | $ | 282 |  |  | $ | 1,223 |  |  |  |  | $ | 58 |  |  | $ | 1,563 |
2025 | 492 |  | 2,897 |  |  |  | 191 |  | 3,580 |
2026 | 167 |  | 2,064 |  |  |  | 60 |  | 2,291 |
2027 | — |  | 1,027 |  |  |  | — |  | 1,027 |
2028 | — |  | — |  |  |  | — |  | — |
Total | $ | 941 |  |  | $ | 7,211 |  |  |  |  | $ | 309 |  |  | $ | 8,461 |

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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