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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
Total stock‑based compensation expense consists of the following:
Three Months EndedSix Months Ended
June 30,June 30,
2023202220232022
Restricted stock and restricted stock units (“RSUs”) expense
$13,530 $9,197 $27,453 $14,562 
Bonus Plan expense (see Note 11)3,336 5,978 7,882 14,139 
ESPP expense (see Note 13)600 1,149 1,175 1,829 
Stock option expense— 611 343 1,367 
Stock grants expense600 450 600 450 
DCP elective participant deferrals expense (1) (see Note 12)
38 84 135 221 
Total stock-based compensation expense (2)
$18,104 $17,469 $37,588 $32,568 
(1)DCP elective participant deferrals expense excludes deferred incentive bonus payable pursuant to the Bonus Plan.
(2)As of June 30, 2023 and December 31, 2022, $4,338 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 EndedSix Months Ended
June 30,June 30,
2023202220232022
Cost of subscriptions and licenses$1,132 $785 $2,166 $1,170 
Cost of services707 564 1,714 947 
Research and development4,424 5,544 9,710 10,939 
Selling and marketing2,943 2,189 5,813 3,643 
General and administrative8,898 8,387 18,185 15,869 
Total stock-based compensation expense$18,104 $17,469 $37,588 $32,568 
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, 20223,794,515 $5.57 
Exercised(2,457,905)5.48 
Forfeited and expired(7,500)5.60 
Outstanding, June 30, 20231,329,110 $5.74 0.7$64,449 
Exercisable, June 30, 20231,329,110 $5.74 0.7$64,449 
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-WeightedWeighted
TotalBasedAverageAverage
RestrictedRestrictedPerformance-Grant DateGrant Date
StockStockBasedFair ValueFair Value
and RSUsand RSUsRSUsPer SharePer Share
Unvested, December 31, 20223,068,851 2,706,078 
(3)
362,773 
(4)
$36.67 $38.21 
Granted1,195,377 
(1)
998,913 196,464 
(5)
41.1539.03
Vested(518,106)(360,946)(157,160)44.70 38.20 
Forfeited and canceled(121,669)(87,875)(33,794)30.82 32.83 
Unvested, June 30, 20233,624,453 
(2)
3,256,170 368,283 37.32 39.14 
(1)For the six months ended June 30, 2023, the Company only granted RSUs.
(2)Includes 64,939 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.