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Equity Awards and Instruments (Tables)
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
Total stock‑based compensation expense consists of the following:
Three Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Restricted stock and restricted stock units (“RSUs”) expense (1)
$10,441 $4,681 $25,003 $11,139 
Bonus Plan expense (see Note 11)7,305 5,586 21,444 17,181 
ESPP expense (see Note 13)565 539 2,394 1,416 
Stock option expense395 773 1,762 2,494 
Stock grants expense— — 450 450 
DCP elective participant deferrals expense (2) (see Note 12)
85 173 306 173 
Total stock-based compensation expense (3)
$18,791 $11,752 $51,359 $32,853 
(1)Includes acquisition‑related shares (see Note 4).
(2)DCP elective participant deferrals expense excludes deferred incentive bonus payable pursuant to the Bonus Plan.
(3)As of September 30, 2022 and December 31, 2021, $7,382 and $6,749 remained in Accruals and other current liabilities in the consolidated balance sheets, respectively.
Total stock‑based compensation expense is included in the consolidated statements of operations as follows:
Three Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Cost of subscriptions and licenses$757 $323 $1,927 $822 
Cost of services460 235 1,407 685 
Research and development6,754 5,227 17,693 14,069 
Selling and marketing2,014 1,582 5,657 3,885 
General and administrative8,806 4,385 24,675 13,392 
Total stock-based compensation expense$18,791 $11,752 $51,359 $32,853 
Schedule of Options
The following is a summary of stock option activity and related information under the Company’s applicable equity incentive plans:
Weighted
WeightedAverage
AverageRemainingAggregate
StockExercise PriceContractualIntrinsic
OptionsPer ShareLife (in years)Value
Outstanding, December 31, 20216,917,925 $5.26 
Exercised(2,635,429)4.77 
Forfeited and expired(105,500)5.64 
Outstanding, September 30, 20224,176,996 $5.56 1.1$104,542 
Exercisable, September 30, 20223,225,496 $5.51 1.0$80,897 
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:
Time-Performance-
BasedBased
Time-Performance-WeightedWeighted
TotalBasedBasedAverageAverage
RestrictedRestrictedRestrictedGrant DateGrant Date
StockStockStockFair ValueFair Value
and RSUsand RSUsand RSUsPer SharePer Share
Unvested, December 31, 20211,708,545 1,611,862 96,683 
(4)
$32.81 $49.93 
Granted1,598,661 
(1)
1,235,888 
(3)
362,773 
(5)
38.8238.21
Vested(477,283)(386,113)(91,170)
(4)
26.40 49.93 
Forfeited and canceled(147,816)(142,303)(5,513)33.64 49.93 
Unvested, September 30, 20222,682,107 
(2)
2,319,334 362,773 37.02 38.21 
(1)For the nine months ended September 30, 2022, the Company only granted RSUs.
(2)Includes 50,917 RSUs which are expected to be settled in cash.
(3)Includes 199,076 time‑based RSUs granted during the three months ended March 31, 2022 to certain officers and key employees, which cliff vest on January 31, 2025.
(4)Relates to the 2021 annual performance period. Total stock‑based compensation expense associated with these awards was fully recognized as of December 31, 2021.
(5)Primarily relates to the 2022 annual performance period, except for 185,186 performance‑based RSUs granted during the three months ended March 31, 2022 with extraordinary terms, which are described below.