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Employee Incentive Plans | 6 Months Ended
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Jul. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Employee Incentive Plans | Employee Incentive Plans The Company’s equity incentive plans provide for granting stock options, restricted stock units (“RSUs”), restricted stock awards (“RSAs”) to employees, consultants, officers and directors and restricted stock units with market-based vesting conditions to certain executives. In addition, the Company offers an Employee Stock Purchase Plan (“ESPP”) to eligible employees. Stock-based compensation expense was recorded in the following cost and expense categories in the Company’s condensed consolidated statements of operations:
| Three Months Ended July 31, |  | Six Months Ended July 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (dollars in millions)
Cost of revenue |  |  |  |  |  |  |
Subscription | $ | 21 |  |  | $ | 18 |  |  | $ | 37 |  |  | $ | 35 |
Professional services and other | 4 |  |  | 3 |  |  | 8 |  |  | 7 |
Research and development | 74 |  |  | 70 |  |  | 142 |  |  | 140 |
Sales and marketing | 41 |  |  | 39 |  |  | 79 |  |  | 78 |
General and administrative | 45 |  |  | 40 |  |  | 85 |  |  | 81 |
Total | $ | 185 |  |  | $ | 170 |  |  | $ | 351 |  |  | $ | 341 |
The following table presents total unrecognized stock-based compensation expense related to outstanding equity awards as of July 31, 2023:
| Unrecognized Stock-based Compensation Expense (in millions) |  | Weighted-average remaining period (in years) |  |
Unvested RSUs | $ | 1,212 |  |  | 2.7 years |  |  |  |
Unvested RSAs | 85 |  |  | 0.8 years |  |  |  |
Unvested stock options | 51 |  |  | 1.4 years |  |  |  |
ESPP | 10 |  |  | 0.5 years |  |  |  |
Total | $ | 1,358 |  |  |  |  |  |  |
Market-based Restricted Stock Units In March 2023, the Company granted market-based RSUs to certain members of management. The target number of market-based RSUs granted was 192,843. One-third of these market-based RSUs vest over each of a one-, two- and three-year performance period, each starting on February 1, 2023. The number of shares that can be earned ranges from 0% to 200% of the target number of shares based on the relative performance of the per share price of the Company’s common stock as compared to the Nasdaq Composite Index over the respective performance periods and subject to continuous employment through the vesting dates. The $149.78 average grant date fair value per target market-based RSU was determined using a Monte Carlo simulation approach. Compensation expense for awards with market conditions is recognized over the service period using the accelerated attribution method and is not reversed if the market condition is not met.

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