Share-Based Compensation and Other Compensation Plans (Tables)
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12 Months Ended |
Mar. 31, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Activity for Stock Options and Performance Stock Options |
Activity for stock options and performance stock options under the Company’s equity incentive plans for the year ended March 31, 2026 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Number of
Options | | Weighted
Average
Exercise
Price | | Weighted
Average
Remaining
Contractual Life
(in years) | | Aggregate
Intrinsic Value
(in thousands) | | Options outstanding at March 31, 2025 | 139,412,098 | | $ | 8.46 | | | 4.69 | | $ | 384,006 | | | Granted | 2,264,315 | | $ | 10.69 | | | | | | | Exercised | (64,389,618) | | $ | 10.60 | | | | | | | Forfeited/Canceled | (1,194,802) | | $ | 9.36 | | | | | | | Options outstanding at March 31, 2026 | 76,091,993 | | $ | 6.71 | | | 5.45 | | $ | 1,596,933 | | | Options exercisable at March 31, 2026 | 69,594,586 | | $ | 6.51 | | | 5.24 | | $ | 1,474,526 | |
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| Schedule of Fair Value Assumptions |
The Company estimated the fair value of each stock option on the date of grant using the Black-Scholes closed form option-pricing model applying the weighted average assumptions in the following table. No performance stock options were granted during the years ended March 31, 2026, 2025 and 2024. | | | | | | | | | | | | | | | | | | | Years Ended March 31, | | Assumptions | 2026 | | 2025 | | 2024 | | Expected stock price volatility | 53.99 | % | | 70.52 | % | | 72.22 | % | | Expected risk free interest rate | 4.00 | % | | 4.52 | % | | 3.72 | % | | Expected term, in years | 6.18 | | 6.21 | | 6.21 | | Expected dividend yield | — | % | | — | % | | — | % |
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| Schedule of Fair Value of Vested Stock Option |
Additional information regarding stock options and performance stock options is set forth below (in thousands, except per share data). | | | | | | | | | | | | | | | | | | | Years Ended March 31, | | 2026 | | 2025 | | 2024 | | Intrinsic value of options exercised | $ | 645,161 | | | $ | 90,542 | | | $ | 68,673 | | | Grant date fair value of options vested | $ | 86,810 | | | $ | 100,639 | | | $ | 157,359 | | | Weighted-average grant date fair value per share of stock options granted | $ | 5.95 | | | $ | 7.22 | | | $ | 5.98 | |
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| Schedule of Activity for RSUs |
Activity for RSUs under the Company’s equity incentive plans for the year ended March 31, 2026 was as follows: | | | | | | | | | | | | | Number of RSUs | | Weighted Average
Grant Date Fair
Value | | Non-vested balance at March 31, 2025 | 14,119,949 | | $ | 9.63 | | | Granted | 6,473,525 | | $ | 10.84 | | | Vested | (5,946,593) | | $ | 9.01 | | | Forfeited | (2,040,870) | | $ | 9.18 | | | Non-vested balance at March 31, 2026 | 12,606,011 | | $ | 10.62 | |
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| Schedule of Activity for PSUs |
Activity for PSUs under the Company’s equity incentive plans for the year ended March 31, 2026 was as follows: | | | | | | | | | | | | | Number of PSUs | | Weighted Average
Grant Date Fair
Value | | Non-vested balance at March 31, 2025 | 36,872,465 | | $ | 9.35 | | | Granted | 11,900,000 | | $ | 7.15 | | Forfeited(1) | (585,229) | | $ | 4.76 | | | Non-vested balance at March 31, 2026 | 48,187,236 | | $ | 8.86 | |
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| Schedule of Long-Term Equity Incentive Awards Approved |
A summary of the long-term equity incentive awards approved is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Executive | | Title | | Performance
Restricted Stock
Units (at max) | | Restricted
Stock Units | | Stock
Options | | | | | | | | | | | Matthew Gline | | Chief Executive Officer | | 14,450,000 | | 2,754,821 | | — | | Mayukh Sukhatme | | President and Chief Investment Officer | | 17,000,000 | | 1,836,547 | | — | | Eric Venker | | President and Immunovant CEO | | * | | 204,000 | | 409,000 | | Frank Torti | | President and Vant Chair | | 11,900,000 | | 1,836,547 | | — |
*The Company entered into a letter agreement pursuant to which Dr. Venker may be granted up to 11,900,000 PSUs in the future, in the sole discretion of the Compensation Committee of the board of directors.
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| Schedule of Activity of PSU's Performance Condition |
The “Performance Condition” will be deemed satisfied for each tranche on the first date, during the performance period ending on the five-year anniversary of the grant date (the “Performance Period”), when the Company’s trailing 30-day volume weighted average trading price per share (“30-Day VWAP”) for trading days during the Performance Period exceeds the specified share price hurdle set forth in the table below: | | | | | | | | | | | | | | | | Tranche | | % of PSUs | | Share Price | | First Tranche | | 14.71 | % | | $ | 15.00 | | | Second Tranche | | 7.35 | % | | $ | 17.50 | | | Third Tranche | | 8.82 | % | | $ | 20.00 | | | Fourth Tranche | | 11.77 | % | | $ | 22.50 | | | Fifth Tranche | | 22.06 | % | | $ | 25.00 | | | Sixth Tranche | | 35.29 | % | | $ | 30.00 | |
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| Schedule of Fair Value Assumptions |
The Company estimated the fair value of the PSUs on the date of grant using a Monte Carlo simulation applying the assumptions in the following table: | | | | | | | | | | | | | | | | | Years Ended March 31, | | Assumptions | | 2026 | | 2025 | | Expected stock price volatility | | 50.0 | % | | 70.0 | % | | Expected risk free interest rate | | 3.9 | % | | 4.1 | % | | Stock price on date of grant | | $ | 11.40 | | | $ | 10.80 | |
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| Schedule of Activity for Capped Value Appreciation Rights |
Activity for CVARs under the RSL 2021 EIP for the year ended March 31, 2026 was as follows: | | | | | | | | | | | | | Number of CVARs | | Weighted Average
Grant Date Fair
Value | | Non-vested balance at March 31, 2025 | 348,527 | | $ | 4.89 | | | Vested | (297,795) | | $ | 4.99 | | | Forfeited | (50,732) | | $ | 4.28 | | | Non-vested balance at March 31, 2026 | — | | $ | — | |
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| Schedule of One-time Cash Retention Awards |
Pursuant to the Senior Executive Compensation Program, the Company paid the following one-time cash retention awards to the officers listed in the table below: | | | | | | | | | | | | | | | | Executive | | Title | | Cash Awards
(in thousands) | | Matthew Gline | | Chief Executive Officer | | $ | 5,725 | | | Mayukh Sukhatme | | President and Chief Investment Officer | | $ | 80,550 | | | Eric Venker | | President and Immunovant CEO | | $ | 7,465 | | | Frank Torti | | President and Vant Chair | | $ | 7,500 | |
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