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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2023
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,
2023202220232022
Restricted stock and restricted stock units (“RSUs”) expense
$13,988 $10,441 $41,441 $25,003 
Bonus Plan expense (see Note 11)3,847 7,305 11,729 21,444 
ESPP expense (see Note 13)634 565 1,809 2,394 
Stock grants expense— — 600 450 
Stock option expense— 395 343 1,762 
DCP elective participant deferrals expense (1) (see Note 12)
35 85 170 306 
Total stock-based compensation expense (2)
$18,504 $18,791 $56,092 $51,359 
(1)DCP elective participant deferrals expense excludes deferred incentive bonus payable pursuant to the Bonus Plan.
(2)As of September 30, 2023 and December 31, 2022, $4,656 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 EndedNine Months Ended
September 30,September 30,
2023202220232022
Cost of subscriptions and licenses$1,254 $757 $3,420 $1,927 
Cost of services671 460 2,385 1,407 
Research and development4,977 6,754 14,687 17,693 
Selling and marketing3,244 2,014 9,057 5,657 
General and administrative8,358 8,806 26,543 24,675 
Total stock-based compensation expense$18,504 $18,791 $56,092 $51,359 
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(2,656,554)5.50 
Forfeited and expired(17,500)5.68 
Outstanding, September 30, 20231,120,461 $5.74 0.5$49,771 
Exercisable, September 30, 20231,120,461 $5.74 0.5$49,771 
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 
Granted1,199,644 
(1)
1,003,180 196,464 
(5)
41.1739.03
Vested(780,084)(622,924)(157,160)33.46 38.20 
Forfeited and canceled(180,944)(143,620)(37,324)33.16 33.41 
Unvested, September 30, 20233,307,467 
(2)
2,942,714 364,753 39.06 39.15 
(1)For the nine months ended September 30, 2023, the Company only granted RSUs.
(2)Includes 59,089 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.