XML 65 R47.htm IDEA: XBRL DOCUMENT
v3.20.4

Equity Awards and Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-based Compensation Expense | Total stock‑based compensation expense was as follows:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
IPO vested restricted stock and RSU expense | $ | 15,102 |  |  | $ | — |  |  | $ | — |
Bonus Plan expense (see Note 11) | 6,524 |  |  | — |  |  | — |
Stock option expense | 6,858 |  |  | 6,342 |  |  | 4,808 |
Restricted stock and RSU expense | 4,248 |  |  | 1,749 |  |  | 3,074 |
Stock grants expense | 319 |  |  | — |  |  | — |
Total pre-tax expense (1) | $ | 33,051 |  |  | $ | 8,091 |  |  | $ | 7,882 |
(1)As of December 31, 2020, $6,835 remained in Accruals and other current liabilities in the consolidated balance sheet. Total stock‑based compensation expense is included in the consolidated statements of operations as follows:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Cost of subscriptions and licenses | $ | 960 |  |  | $ | 115 |  |  | $ | 44 |
Cost of services | 2,939 |  |  | 522 |  |  | 362 |
Research and development | 12,105 |  |  | 3,107 |  |  | 2,971 |
Selling and marketing | 6,692 |  |  | 2,210 |  |  | 2,337 |
General and administrative | 10,355 |  |  | 2,137 |  |  | 2,168 |
Total pre-tax expense | $ | 33,051 |  |  | $ | 8,091 |  |  | $ | 7,882 |
Schedule of Valuation Assumptions |
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Expected volatility | 31.04% |  | 29.57% |  | 26.32% – 27.18%
Expected dividend yield | 1.11% |  | 1.38% |  | 1.18%
Risk-free interest rate | 1.31% |  | 2.48% |  | 2.40%
Expected term (in years) | 3.75 |  | 3.75 |  | 3.75
Weighted average grant date fair value of stock options issued | $2.49 |  | $1.66 |  | $1.46
Schedule of Options | The following is a summary of stock option activity and related information under the Company’s applicable equity incentive plans and after giving effect to the $1.50 downward exercise price adjustment as a result of the Special Dividend:
|  |  |  |  | Weighted |  |
|  |  | Weighted |  | Average |  |
|  |  | Average |  | Remaining |  | Aggregate
| Stock |  | Exercise Price |  | Contractual |  | Intrinsic
| Options |  | Per Share |  | Life (in years) |  | Value
Outstanding, December 31, 2019 | 18,691,667 |  |  | $ | 4.47 |  |  |  |  |
Granted | 10,000 |  |  | 9.34 |  |  |  |
Exercised | (5,486,191) |  |  | 3.47 |  |  |  |  |
Canceled | (373,250) |  |  | 5.33 |  |  |  |  |
Outstanding, December 31, 2020 | 12,842,226 |  |  | $ | 4.87 |  |  | 2.06 |  | $ | 457,650 |
Exercisable, December 31, 2020 | 6,327,541 |  |  | $ | 4.42 |  |  | 1.47 |  | $ | 228,378 |
Schedule of Restricted Stock and Restricted Stock Unit Activity | The following is a summary of unvested restricted stock and RSU activity and related information under the Company’s applicable equity incentive plans:
|  |  | Weighted Average
| Restricted |  | Grant Date
| Stock |  | Fair Value
| and RSUs |  | Per Share
Unvested, December 31, 2019 | 210,111 |  |  | $ | 6.79 |
Granted | 2,481,670 |  |  | 16.03
Vested | (1,148,656) |  |  | 14.58 |
Canceled | (88,371) |  |  | 10.06 |
Unvested, December 31, 2020 | 1,454,754 |  |  | $ | 16.17 |
|  | Restricted |  |  |  |  |  |
|  | Stock |  | Restricted |  |  |  |
Grant Date |  | and RSUs |  | Stock |  | RSUs |  | Vesting Terms
Q1 2020 |  | 12,454 |  |  | 12,454 |  |  | — |  |  | Time‑based
Q3 2020 |  | 185,324 |  |  | 175,004 |  |  | 10,320 |  |  | Performance-based (1)
Q3 2020 |  | 1,197,760 |  |  | 698,540 |  |  | 499,220 |  | (2) | Time-based
Q3 2020 |  | 994,912 |  |  | 962,674 |  |  | 32,238 |  | (3) | Upon the Company’s completion of the IPO on September 25, 2020
Q4 2020 |  | 12,435 |  |  | 1,667 |  |  | 10,768 |  |  | Performance-based (1)
Q4 2020 |  | 78,785 |  |  | 13,485 |  |  | 65,300 |  |  | Time‑based
2020 total granted |  | 2,481,670 |  |  | 1,863,824 |  |  | 617,846 |  |  |
(1)Performance‑based vesting is determined by the achievement of certain business growth targets, which include growth in annual recurring revenues, as well as actual bookings for perpetual licenses and non‑recurring services. Annual performance targets are seasonalized and targets are set for quarterly and annual performance periods ended on December 31, 2020. (2)Includes 46,300 RSUs that will be settled in cash. (3)32,238 RSUs will be settled in cash.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration