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Stockholders' Equity | 9 Months Ended
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Oct. 31, 2023
Equity [Abstract] |
Stockholders' Equity | Stockholders' Equity Equity Incentive Plans We maintain three stock-based compensation plans: the 2018 Equity Incentive Plan (the “2018 Plan”), the Amended and Restated 2011 Equity Incentive Plan and the Amended and Restated 2003 Stock Plan. As of October 31, 2023, 35.7 million shares of our common stock were available for issuance under the 2018 Plan. Restricted Stock Units Restricted stock unit (“RSU”) activity for the nine months ended October 31, 2023 was as follows:
(in thousands, except per share data) | Number of Units |  | Weighted-Average Grant Date Fair Value
Unvested at January 31, 2023 | 17,621 |  |  | $ | 81.30 |
Granted | 18,095 |  |  | 54.50 |
Vested | (5,929) |  |  | 83.90 |
Canceled | (2,191) |  |  | 88.83 |
Unvested at October 31, 2023 | 27,596 |  |  | $ | 62.58 |
As of October 31, 2023, the grant date fair value of unvested RSUs subject to market-based and performance-based vesting conditions was $117.9 million. As of October 31, 2023, our total unrecognized compensation cost related to RSUs was $1.3 billion. We expect to recognize this expense over the remaining weighted-average period of approximately 3.2 years. Stock Options Option activity for the nine months ended October 31, 2023 was as follows:
(in thousands, except years and per share data) | Number of Options |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding at January 31, 2023, all vested and exercisable | 2,228 |  |  | $ | 17.11 |  |  | 3.60 |  | $ | 96,839 |
Exercised | (769) |  |  | 17.18 |  |  |  |  |
Canceled/expired | (3) |  |  | 17.48 |  |  |  |  |
Outstanding at October 31, 2023, all vested and exercisable | 1,456 |  |  | $ | 17.07 |  |  | 2.80 |  | $ | 31,677 |
As of October 31, 2023, there was no remaining unrecognized compensation cost related to stock option grants. Employee Stock Purchase Plan The Employee Stock Purchase Plan (“ESPP”) allows eligible employees to purchase shares of our common stock at a discounted price, normally through payroll deductions, subject to the terms of the ESPP and applicable law. As of October 31, 2023, 10.6 million shares of our common stock were reserved for issuance under the ESPP. Compensation expense related to the ESPP was $4.2 million and $5.4 million for the three months ended October 31, 2023 and 2022, and $12.8 million and $17.3 million for the nine months ended October 31, 2023 and 2022. Stock Repurchase Program In March 2022, our board of directors authorized a stock repurchase program of up to $200.0 million of our outstanding common stock. Subsequently, in September 2023, our board of directors authorized an increase to its existing stock repurchase program for an additional amount of up to $300.0 million of our outstanding common stock. During the three months ended October 31, 2023, we repurchased and cancelled 1.8 million shares of common stock at an average price of $42.48 per share, for an aggregate amount of $75.0 million. During the nine months ended October 31, 2023, we repurchased and cancelled 3.1 million shares of common stock at an average price of $47.57 per share, for an aggregate amount of $145.5 million. During the three months ended October 31, 2022, we repurchased and cancelled 0.7 million shares of common stock at an average price of $51.28 per share, for an aggregate amount of $38.0 million. During the nine months ended October 31, 2022, we repurchased and cancelled 1.1 million shares of common stock at an average price of $55.52 per share, for an aggregate amount of $63.0 million.

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