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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
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,
20242023
Restricted stock and restricted stock units (“RSUs”) expense
$13,690 $13,923 
Bonus Plan expense (see Note 11)5,301 4,546 
ESPP expense (see Note 13)624 575 
Stock option expense— 343 
DCP elective participant deferrals expense (1) (see Note 12)
43 97 
Total stock-based compensation expense (2)
$19,658 $19,484 
(1)DCP elective participant deferrals expense excludes deferred incentive bonus payable pursuant to the Bonus Plan.
(2)As of March 31, 2024 and December 31, 2023, $6,300 and $4,043 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,
20242023
Cost of subscriptions and licenses$1,094 $1,034 
Cost of services882 1,007 
Research and development4,881 5,286 
Selling and marketing2,778 2,870 
General and administrative10,023 9,287 
Total stock-based compensation expense$19,658 $19,484 
Schedule of Options
The following is a summary of stock option activity and related information under the Company’s applicable equity incentive plans:
Weighted
Average
StockExercise Price
OptionsPer Share
Outstanding, December 31, 2023916,429 $5.74 
Exercised(911,429)5.74 
Forfeited and expired(5,000)5.74 
Outstanding, March 31, 2024— $— 
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, 20233,303,849 2,938,208 
(3)
365,641 
(4)
$39.87 $39.21 
Granted830,534 
(1)
670,560 159,974 
(5)
51.3648.60
Vested(606,781)(424,991)(181,790)40.30 39.15 
Forfeited and canceled(55,497)(55,497)— 36.01 0.00 
Unvested, March 31, 20243,472,105 
(2)
3,128,280 
(3)
343,825 $42.34 $43.61 
(1)For the three months ended March 31, 2024, the Company only granted RSUs.
(2)Includes 51,638 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 2023 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 2024 annual performance period, except for 1,335 additional shares earned based on the achievement of 2023 performance goals for performance-based RSUs granted during the year ended December 31, 2023.