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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of 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%
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%
Schedule of 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 September 30,Six months ended September 30,
2023202220232022
Dividend yield—%—%—%—%
Expected volatility62.67%56.37%62.67%56.32%
Average risk-free rate4.58%2.92%4.58%2.93%
Expected life4.6 years5.8 years4.6 years5.8 years
Schedule of Stock Option Activity
Option activity for the six months ended September 30, 2023 was as follows:
 SharesWeighted Average Exercise
Price
Weighted Average
Remaining
Contractual Term
Aggregate Intrinsic Value
Options outstanding, beginning of period314,742 $104.41   
Granted during period274 132.16   
Exercised during period(11,743)91.12   
Forfeited during period(6,018)120.31   
Expired during period(992)176.51   
Options outstanding, end of period296,263  3$104.40 5.4 years$7,894,384 
Options exercisable, end of period102,022 $100.53 4.7 years$3,113,302 
Schedule of Intrinsic Value of Options Exercised The total intrinsic value of options exercised during the periods ended September 30, 2023 and 2022 was as follows:
September 30,
2023
September 30,
2022
Three months ended$226,175 $— 
Six months ended$441,310 $430,466 
Summary of the Status and Changes Restricted Stock
A summary of the status of the Company’s restricted stock as of September 30, 2023, and changes during the six months ended September 30, 2023, are presented below:
 SharesWeighted Average Fair Value at Grant Date
Outstanding at March 31, 2023460,614 $101.82 
Granted during the period3,993 120.12 
Vested during the period— — 
Forfeited during the period— — 
Outstanding at September 30, 2023464,607 $105.82 
Schedule of Share-Based Compensation Included as a Component of Net Income (Loss) Total stock-based compensation included as a component of net income (loss) during the three and six month periods ended September 30, 2023 and 2022 was as follows:
Three months ended September 30,Six months ended September 30,
2023202220232022
Stock-based compensation related to equity classified awards:
Stock-based compensation (reversal) related to stock options4
$(4,374,277)$676,704 $(4,060,930)$1,444,759 
Stock-based compensation related to restricted stock, net of adjustments and exclusive of cancellations1,066,500 3,143,874 2,165,851 6,191,877 
Total stock-based compensation (reversal) related to equity classified awards
$(3,307,777)$3,820,578 $(1,895,079)$7,636,636