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Incentive Compensation Plans (Tables)
12 Months Ended
Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Valuation Assumptions



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

Replacement



 

Time-Vesting

 

Exit-Vesting

 

Exit-Vesting



 

Options

 

Options

 

Restricted Stock

Year Ended March 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average fair value

 

$

9.78 

 

 

$

5.90 

 

 

$

12.80 

 

Expected dividend yield

 

 

 —

%

 

 

 —

%

 

 

 —

%

Expected volatility

 

 

52.5 

%

 

 

52.9 

%

 

 

62.2 

%

Risk-free interest rate

 

 

2.2 

%

 

 

2.2 

%

 

 

2.3 

%

Expected term (years)

 

 

4.5 

 

 

 

5.1 

 

 

 

1.9 

 



Summary of Equity Compensation Expense



 

 

 

 

 

 

 

 

 



 

Year-Ended

 

Year-Ended

 

Year-Ended



 

March 31, 2021

 

March 31, 2020

 

March 31, 2019

Equity compensation expense

 

$

59,016 

 

$

1,701 

 

$

 —

Deferred tax benefit recognized

 

$

7,336 

 

$

166 

 

$

 —

Actual tax benefit recognized

 

$

6,067 

 

$

152 

 

$

 —



Replacement Time-Vesting Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Option Activity



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Replacement

 

 

 

 

Weighted Average

 

 

Aggregate



 

Time-Vesting

 

Weighted Average

 

Remaining

 

 

Intrinsic



 

Options

 

Exercise Price

 

Contractual Term

 

 

Value

Outstanding at April 1, 2020

 

3,458,744 

 

$

11.95 

 

 

3.3 

 

 

$

4,083 

Exercised

 

(778,441)

 

$

10.64 

 

 

 —

 

 

$

4,906 

Forfeited

 

(196,221)

 

$

18.67 

 

 

 —

 

 

$

673 

Outstanding at March 31, 2021

 

2,484,082 

 

$

11.83 

 

 

2.4 

 

 

$

25,517 

Exercisable at March 31, 2021

 

2,484,082 

 

$

11.83 

 

 

2.4 

 

 

$

25,517 



Replacement Exit-Vesting Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Replacement Exit-Vesting Restricted Stock Activity



 

 

 

 

 



 

 

Weighted

 



 

Replacement 

Average

 



 

Exit-Vesting

Grant Date 

 



 

Restricted Stock

Fair Value

 

Unvested at April 1, 2020

 

1,005,718 

$

12.87 

 

Canceled

 

(83,466)

$

12.63 

 

Unvested at March 31, 2021

 

922,252 

$

12.89 

 



Time-Vesting and Exit-Vesting Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Option Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 



 

 

 

 

 

Weighted Average

 

Remaining

 

Aggregate



 

Awards

 

Exercise Price

 

Contractual Term

 

Intrinsic Value



 

Time-

 

Exit-

 

Time-

 

Exit-

 

Time-

 

Exit-

 

Time-

 

Exit-



 

Vesting

 

Vesting

 

Vesting

 

Vesting

 

Vesting

 

Vesting

 

Vesting

 

Vesting



 

Options

 

Options

 

Options

 

Options

 

Options

 

Options

 

Options

 

Options

Outstanding at April 1, 2020

 

5,732,247 

 

5,254,104 

 

$

18.99 

 

$

18.99 

 

7.6 

 

7.6 

 

$

 —

 

$

 —

Exercised

 

(410,632)

 

 —

 

$

18.99 

 

$

 —

 

 —

 

 —

 

$

1,754 

 

$

 —

Forfeited

 

(257,467)

 

(503,477)

 

$

18.99 

 

$

18.99 

 

 —

 

 —

 

$

906 

 

$

1,567 

Outstanding at March 31, 2021

 

5,064,148 

 

4,750,627 

 

$

18.99 

 

$

18.99 

 

6.6 

 

6.6 

 

$

15,764 

 

$

14,774 

Exercisable at March 31, 2021

 

4,426,522 

 

 —

 

$

18.99 

 

$

 —

 

6.6 

 

 —

 

$

13,781 

 

$

 —



Schedule of Time-Vesting and Exist-Vesting Nonvested Option Activity



 

 

 

 

 

 

 

 



 

Time-Vesting Options

 

Exit-Vesting Options



 

 

Weighted

 

 

Weighted



 

 

Average

 

 

Average



 

 

Grant Date

 

 

Grant Date



 

Shares

Fair Value

 

Shares

Fair Value

Unvested at April 1, 2020

 

1,988,559 

$

9.78 

 

5,254,104 

$

5.90 

Granted

 

 —

 

 —

 

 —

 

 —

Cancelled

 

(118,428)

$

9.78 

 

(503,477)

$

5.90 

Vested

 

(1,232,505)

$

9.78 

 

 —

 

 —

Unvested at March 31, 2021

 

637,626 

$

9.78 

 

4,750,627 

$

5.90 



Long-term Incentive Plan Awards [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock Unit Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Restricted

 

Deferred

 

Cash Settled

 

Performance 



 

Stock Units

 

Stock Units

 

Restricted Stock Units

 

Stock Units



 

 

Weighted

 

 

Weighted

 

 

Weighted

 

 

Weighted



 

 

Average

 

 

Average

 

 

Average

 

 

Average



 

 

Grant Date 

 

 

Grant Date 

 

 

Grant Date 

 

 

Grant Date 



 

Shares

Fair Value

 

Shares

Fair Value

 

Shares

Fair Value

 

Shares

Fair Value

Unvested at April 1, 2020

 

4,468,089 

$

13.53 

 

45,704 

$

15.06 

 

477,561 

$

14.35 

 

965,689 

$

14.34 

Granted

 

11,579,143 

$

17.68 

 

86,916 

$

11.93 

 

172,524 

$

11.93 

 

1,177,152 

$

14.26 

Cancelled

 

(795,515)

$

12.63 

 

 —

 

 —

 

(41,757)

$

13.19 

 

(84,311)

$

13.75 

Vested(1)

 

(1,131,199)

$

13.63 

 

(45,704)

$

15.06 

 

(173,816)

$

14.39 

 

 —

 

 —

Unvested at March 31, 2021

 

14,120,518 

$

16.98 

 

86,916 

$

11.93 

 

434,512 

$

13.49 

 

2,058,530 

$

14.32 





(1)

During the year ended March 31, 2021, 45,704 Deferred Stock Units vested. However, these holders of these awards do not receive shares of common stock in exchange for these DSUs until they leave their position as described above.

eRx Awards [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock Unit Activity



 

 

 

 

 

 

 

 



 

eRx Restricted 

 

eRx Unvested Stock



 

Stock Units

 

Appreciation Rights



 

 

Weighted

 

 

Weighted



 

 

Average

 

 

Average



 

 

Grant Date 

 

 

Grant Date 



 

Shares

Fair Value

 

Shares

Fair Value

Unvested at April 1, 2020

 

 —

 

 —

 

 —

 

 —

Granted

 

262,071 

$

11.04 

 

11,439 

$

11.04 

Cancelled

 

(18,238)

$

11.04 

 

 —

$

11.04 

Vested

 

 —

 

 —

 

 —

 

 —

Unvested at March 31, 2021

 

243,833 

$

11.04 

 

11,439 

$

11.04