Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.2.2
Stock-Based Compensation
 6 Months Ended
Jul. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Summary of Stock Option Activity
A summary of the Company’s stock option activity for the Plan for the three and six months ended July 31, 2022 is as follows:
Number of stock options Weighted average exercise price Weighted average remaining contractual life
(in thousands) (in years)
Outstanding as of January 31, 2022
 44,355  6.23  7.8
Exercised (2,309) 4.51 
Cancelled/forfeited (3,929) 7.98 
Outstanding as of July 31, 2022
 38,117  6.15  7.1
Exercisable as of July 31, 2022
 24,504  $ 5.31  6.7
Vested and expected to vest as of July 31, 2022
 34,685  $ 5.87  7.0
Restricted Stock Units
A summary of the Company’s RSU award activity was as follows:
Number of restricted shares Weighted Average Grant Date Fair Value
(in thousands)
Outstanding as of January 31, 2022
 1,730  $ 14.67 
Granted 7,732  12.74 
Released (206) 13.31 
Cancelled/forfeited (578) 13.77 
Outstanding as of July 31, 2022
 8,679  $ 13.06 
Stock-Based Compensation Expense
Stock-based compensation expense included in operating results was allocated as follows (in thousands):
Three Months Ended July 31, Six Months Ended July 31,
2022 2021 2022 2021
Costs of subscription $ 389  $ 443  $ 798  $ 822 
Costs of professional services 779  737  1,402  1,022 
Research and development 3,148  1,501  5,496  2,729 
Sales and marketing 7,809  4,766  13,665  8,966 
General and administrative 4,072  9,179  7,350  11,993 
Stock-based compensation, net of amounts capitalized 16,197  16,626  28,711  25,532 
Capitalized stock-based compensation 677  233  875  233 
Total stock-based compensation $ 16,874  $ 16,859  $ 29,586  $ 25,765 

Three Months Ended July 31, Six Months Ended July 31,
2022 2021 2022 2021
Equity classified awards 16,624  16,609  $ 29,086  $ 25,265 
Other awards (1)
250  250  500  500 
$ 16,874  $ 16,859  $ 29,586  $ 25,765 
(1) Nonemployee grant recorded over five years, representing the same period and in the same manner as if the grantor had paid cash for the services instead of paying with or using the share-based payment award.
Employee Stock Purchase Plan
During the second quarter of fiscal year 2023, the fair market value of the Company's stock on the purchase date, June 15, 2022, was lower than the fair market value of the Company's stock on the offering date. As a result, the offering period was reset and the new lower price became the new offering price for a new 12 months offering period. This reset was treated as a modification resulting in incremental charges totaling $3.7 million, which will be recognized over the remaining requisite service period.
As of July 31, 2022, total unrecognized compensation cost related to unvested awards not yet recognized under all equity compensation plans, adjusted for estimated forfeitures, was as follows:
July 31, 2022
Unrecognized expense Weighted average expense recognition period
(in thousands) (in years)
Stock options $ 28,673  2.4
Performance share units 1,696  2.5
Restricted stock units 54,256  3.5
ESPP 4,029  1.0