Share-Based Compensation (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Changes in Options Outstanding |
The following is a summary of the changes in the Options outstanding during the years ended March 31, 2024, 2025 and 2026:
|
|
|
|
|
|
|
|
|
|
|
Options
issued |
|
|
Weighted
average
exercise price |
|
Balance outstanding at March 31, 2023 |
|
|
1,375,089 |
|
|
$ |
271.20 |
|
Options granted |
|
|
2,438,257 |
|
|
|
6.22 |
|
Options exercised |
|
|
(1,143 |
) |
|
|
0.60 |
|
Options forfeited |
|
|
(928,281 |
) |
|
|
214.17 |
|
Balance outstanding at March 31, 2024 |
|
|
2,883,922 |
|
|
$ |
271.20 |
|
Options granted |
|
|
990,107 |
|
|
|
8.81 |
|
Replacement options issued resulting from the Acreage Acquisition |
|
|
93,383 |
|
|
|
85.67 |
|
Options exercised |
|
|
(18,621 |
) |
|
|
6.05 |
|
Options forfeited |
|
|
(299,876 |
) |
|
|
334.48 |
|
Balance outstanding at March 31, 2025 |
|
|
3,648,915 |
|
|
$ |
32.81 |
|
Options granted |
|
|
2,799,022 |
|
|
|
2.00 |
|
Replacement options issued(1) |
|
|
230,515 |
|
|
|
1.55 |
|
Options expired/forfeited |
|
|
(3,934,597 |
) |
|
|
28.94 |
|
Balance outstanding at March 31, 2026(1) |
|
|
2,743,855 |
|
|
$ |
4.19 |
|
(1) Included is 70,515 replacement compensation options with an exercise price of $1.59 per compensation option. Each compensation option is exercisable for one Canopy Share and one half of one Canopy Growth warrant. Each whole Canopy Growth warrant is exercisable to acquire one Canopy Share until September 19, 2028 at an exercise price of $2.61 per Canopy Share. |
|
|
| Summary of Options Outstanding |
The following is a summary of the Options outstanding as at March 31, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
|
Options Exercisable |
|
|
|
|
|
|
Weighted Average |
|
|
|
|
|
Weighted Average |
|
|
|
|
|
|
Remaining |
|
|
|
|
|
Remaining |
|
|
|
Outstanding at |
|
|
Contractual Life |
|
|
Exercisable at |
|
|
Contractual Life |
|
Range of Exercise Prices |
|
March 31, 2026 |
|
|
(years) |
|
|
March 31, 2026 |
|
|
(years) |
|
$1.53 - $7.50 |
|
|
2,573,074 |
|
|
|
4.73 |
|
|
|
486,325 |
|
|
|
3.11 |
|
$7.51 - $56.10 |
|
|
157,803 |
|
|
|
3.70 |
|
|
|
80,886 |
|
|
|
3.22 |
|
$56.11 - $308.70 |
|
|
12,978 |
|
|
|
1.87 |
|
|
|
12,978 |
|
|
|
1.87 |
|
|
|
|
2,743,855 |
|
|
|
4.65 |
|
|
|
580,189 |
|
|
|
3.10 |
|
|
| Summary of Assumptions Applied to Establish Fair Value of Options Granted Using Black-Scholes Option Pricing Model |
The Company uses the Black-Scholes option pricing model to establish the fair value of Options granted during the years ended March 31, 2026, 2025 and 2024 on their measurement date by applying the following assumptions:
|
|
|
|
|
|
|
|
|
March 31, |
|
March 31, |
|
March 31, |
|
|
2026 |
|
2025 |
|
2024 |
Risk-free interest rate |
|
2.72% |
|
3.44% |
|
3.83% |
Expected life of options (years) |
|
3 - 5 |
|
3 - 5 |
|
3 - 5 |
Expected volatility |
|
121% |
|
117% |
|
83% |
Expected forfeiture rate |
|
18% |
|
19% |
|
21% |
Expected dividend yield |
|
nil |
|
nil |
|
nil |
Black-Scholes value of each Option |
|
$1.60 |
|
$5.94 |
|
$3.87 |
|
| Summary of Changes in RSUs and PSUs |
The following is a summary of changes in the Company’s RSUs and PSUs during the years ended March 31, 2024, 2025 and 2026:
|
|
|
|
|
|
|
Number of RSUs
and PSUs |
|
Balance outstanding at March 31, 2023 |
|
|
258,322 |
|
RSUs and PSUs granted |
|
|
1,556,983 |
|
RSUs and PSUs released |
|
|
(140,496 |
) |
RSUs and PSUs cancelled and forfeited |
|
|
(402,510 |
) |
Balance outstanding at March 31, 2024 |
|
|
1,272,299 |
|
RSUs and PSUs granted |
|
|
774,331 |
|
Replacement RSUs issued resulting from the Acreage Acquisition |
|
|
6,627 |
|
RSUs and PSUs released |
|
|
(449,636 |
) |
RSUs and PSUs cancelled and forfeited |
|
|
(243,936 |
) |
Balance outstanding at March 31, 2025 |
|
|
1,359,685 |
|
RSUs granted |
|
|
3,881,642 |
|
RSUs and PSUs released |
|
|
(778,558 |
) |
RSUs and PSUs cancelled and forfeited |
|
|
(1,540,151 |
) |
Balance outstanding at March 31, 2026 |
|
|
2,922,618 |
|
|