XML 36 R26.htm IDEA: XBRL DOCUMENT v3.22.2
STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Performance Shares Vesting Based on EPS Targets The Performance Option performance target is set forth below.
Trailing 4-Quarter EPS Targets for
September 30, 2018 through March 31, 2025		Options Eligible for Vesting
(Percentage of Award)
$25.30100%
Fair Value was Estimated at Grant Date Using the Weighted-Average Fair value was estimated at grant date using the weighted-average assumptions listed below:
Three months ended June 30,
20222021
Dividend Yield—%—%
Expected Volatility55.96%57.05%
Average risk-free rate2.94%1.01%
Expected Life5.9 years6.0 years
Summary Schedule of Stock Option Activity
Option activity for the three months ended June 30, 2022 was as follows:
 SharesWeighted Average Exercise
Price		Weighted Average
Remaining
Contractual Term		Aggregate Intrinsic Value
Options outstanding, beginning of period348,566 $104.33   
Granted during period643 148.64   
Exercised during period(4,300)93.85   
Forfeited during period(5,197)155.72   
Expired during period(272)161.83   
Options outstanding, end of period339,440  2$103.71 6.2 years$4,789,686 
Options exercisable, end of period96,457 $89.38 4.6 years$2,365,777 
Intrinsic Value of Options Exercised The total intrinsic value of options exercised during the periods ended June 30, 2022 and 2021 was as follows:
June 30,
2022		June 30,
2021
Three months ended$430,466 $2,021,676 
Summary of the Status and Changes Restricted Stock
A summary of the status of the Company’s restricted stock as of June 30, 2022, and changes during the three months ended June 30, 2022, are presented below:
 SharesWeighted Average Fair Value at Grant Date
Outstanding at March 31, 2022552,502 $102.51 
Granted during the period1,750 148.64 
Vested during the period— — 
Forfeited during the period— — 
Outstanding at June 30, 2022554,252 $102.66 
Share-Based Compensation Included as a Component of Net Income
Total stock-based compensation included as a component of net income during the three month periods ended June 30, 2022 and 2021 was as follows:
Three months ended June 30,
20222021
Stock-based compensation related to equity classified awards:
Stock-based compensation related to stock options$768,055 $943,627 
Stock-based compensation related to restricted stock, net of adjustments and exclusive of cancellations3,048,003 3,240,463 
Total stock-based compensation related to equity classified awards$3,816,058 $4,184,090 
Restricted Stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Performance Shares Vesting Based on EPS Targets The Performance Share performance targets are set forth below.
Trailing 4-Quarter EPS Targets for
September 30, 2018 through March 31, 2025		Restricted Stock Eligible for Vesting
(Percentage of Award)
$16.3540%
$20.4560%