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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Total stock‑based compensation expense consists of the following:


	Three Months Ended
	March 31,
		2023		2022
Restricted stock and restricted stock units (“RSUs”) expense		$	13,923	$	5,365
Bonus Plan expense (see Note 11)		4,546		8,161
ESPP expense (see Note 13)		575		680
Stock option expense		343		756

DCP elective participant deferrals expense (1) (see Note 12)		97		137
Total stock-based compensation expense (2)		$	19,484	$	15,099

(1)DCP elective participant deferrals expense excludes deferred incentive bonus payable pursuant to the Bonus Plan.

(2)As of March 31, 2023 and December 31, 2022, $5,213 and $7,300 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 Ended
	March 31,
		2023		2022
Cost of subscriptions and licenses		$	1,034	$	385
Cost of services		1,007		383
Research and development		5,286		5,395
Selling and marketing		2,870		1,454
General and administrative		9,287		7,482
Total stock-based compensation expense		$	19,484	$	15,099

Schedule of Options

The following is a summary of stock option activity and related information under the Company’s applicable equity incentive plans:


				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Stock	Exercise Price		Contractual	Intrinsic
	Options	Per Share		Life (in years)	Value
Outstanding, December 31, 2022	3,794,515	$	5.57
Exercised	(1,002,122)	5.46
Forfeited and expired	(7,500)	5.60
Outstanding, March 31, 2023	2,784,893	$	5.62	0.7	$	104,084
Exercisable, March 31, 2023	2,782,393	$	5.62	0.7	$	103,991

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-
							Based		Based
			Time-				Weighted		Weighted
	Total		Based				Average		Average
	Restricted		Restricted		Performance-		Grant Date		Grant Date
	Stock		Stock		Based		Fair Value		Fair Value
	and RSUs		and RSUs		RSUs		Per Share		Per Share
Unvested, December 31, 2022	3,068,851		2,706,078	(3)	362,773	(4)	$	36.67	$	38.21
Granted	1,152,992	(1)	962,574		190,418	(5)	41.09		38.93
Vested	(370,127)		(212,967)		(157,160)		39.37		38.20
Forfeited and canceled	(38,959)		(30,165)		(8,794)		27.23		34.36
Unvested, March 31, 2023	3,812,757	(2)	3,425,520		387,237		37.83		38.65

(1)For the three months ended March 31, 2023, the Company only granted RSUs.

(2)Includes 68,159 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)Primarily relates to the 2022 annual performance period, except for 185,186 performance‑based RSUs granted during the year ended December 31, 2022 with extraordinary terms, which are described below.

(5)Primarily relates to the 2023 annual performance period, except for 13,367 additional shares earned based on the achievement of 2022 performance goals for performance‑based RSUs granted during the year ended December 31, 2022.