XML 27 R18.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Stock-Based Compensation | 6 Months Ended
--- | ---
Jul. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Note 11. Stock-Based Compensation Employee Equity Plans We currently have two employee equity plans that have been adopted by our board of directors. These plans, the 2015 Equity Incentive Plan (the "2015 Plan") and the 2015 Employee Stock Purchase Plan (the "2015 ESPP"), are described in more detail in Item 8. Financial Statements and Supplementary Data in our Form 10-K for the fiscal year ended January 31, 2022. As of July 31, 2022, 23,057,400 shares and 5,795,134 shares were reserved for future issuance under the 2015 Plan and the 2015 ESPP, respectively. Stock Options The following table summarizes the stock option activity under the equity incentive plans and related information:
|  | Shares Subject to Options Outstanding |  |  | Weighted- Average |  |  |  |
|  |  |  |  | Weighted- |  |  | Remaining |  |  |  |
|  |  |  |  | Average Exercise |  |  | Contractual Life |  |  | Aggregate |
|  | Shares |  |  | Price |  |  | (Years) |  |  | Intrinsic Value |
|  |  |  |  |  |  |  |  |  |  | (in thousands) |
Balance as of January 31, 2022 |  |  | 5,726,893 |  |  | $ | 11.74 |  |  |  | 3.04 |  |  | $ | 82,481 |
Options granted |  |  | — |  |  |  | — |  |  |  |  |  |  |
Options exercised |  |  | (2,083,277 | ) |  |  | 3.09 |  |  |  |  |  |  |
Options forfeited/cancelled |  |  | (650,000 | ) |  |  | 20.28 |  |  |  |  |  |  |
Balance as of July 31, 2022 |  |  | 2,993,616 |  |  | $ | 15.90 |  |  |  | 3.82 |  |  | $ | 37,546 |
Vested and expected to vest as of July 31, 2022 |  |  | 2,989,152 |  |  | $ | 15.89 |  |  |  | 3.81 |  |  | $ | 37,506 |
Exercisable as of July 31, 2022 |  |  | 2,903,245 |  |  | $ | 15.79 |  |  |  | 3.72 |  |  | $ | 36,740 |
Restricted Stock Units The following table summarizes the restricted stock unit activity under the equity incentive plans and related information:
|  | Number of |  |  | Weighted- |
|  | Restricted |  |  | Average |
|  | Stock Units |  |  | Grant Date |
|  | Outstanding |  |  | Fair Value |
Unvested balance - January 31, 2022 |  |  | 14,840,913 |  |  | $ | 21.35 |
Granted |  |  | 8,247,887 |  |  |  | 28.14 |
Vested |  |  | (4,365,169 | ) |  |  | 22.69 |
Forfeited/cancelled |  |  | (1,369,225 | ) |  |  | 22.24 |
Unvested balance - July 31, 2022 |  |  | 17,354,406 |  |  | $ | 24.17 |
As of July 31, 2022, there was $394.1 million of unrecognized stock-based compensation expense related to outstanding restricted stock units granted to employees that is expected to be recognized over a weighted-average period of 2.94 years. Performance-Based Restricted Stock Units We use performance-based incentives for certain employees, including our named executive officers, to achieve our annual financial and operational objectives, while making progress towards our longer-term strategic and growth goals. Based on a review of our actual achievement of pre-established corporate financial objectives and additional inputs from our Compensation Committee, the Fiscal 2022 Executive Bonus Plan was determined, settled and paid out in the first quarter of fiscal year 2023 in the form of fully vested restricted stock units. During the first quarter of fiscal year 2023, our Compensation Committee also adopted and approved the performance criteria and targets for the Fiscal 2023 Executive Bonus Plan, which is expected to be paid out in the form of cash and fully vested restricted stock units in the first quarter of fiscal year 2024. During the six months ended July 31, 2022, we recognized stock-based compensation expense related to the Fiscal 2022 and Fiscal 2023 Executive Bonus Plans in the amount of $4.5 million and $6.0 million, respectively. The unrecognized compensation expense related to the ungranted and unvested Fiscal 2023 Executive Bonus Plan is $9.1 million, based on the expected performance against the pre-established corporate financial objectives as of July 31, 2022, which is expected to be recognized over a remaining weighted-average period of less than one year. 2015 ESPP As of July 31, 2022, there was $13.2 million of unrecognized stock-based compensation expense related to the 2015 ESPP that is expected to be recognized over the remaining term of the respective offering periods. Stock-Based Compensation The following table summarizes the components of stock-based compensation expense recognized in the condensed consolidated statements of operations (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 31, |  |  | July 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Cost of revenue |  | $ | 4,787 |  |  | $ | 4,883 |  |  | $ | 9,142 |  |  | $ | 10,223 |
Research and development |  |  | 18,095 |  |  |  | 16,626 |  |  |  | 35,821 |  |  |  | 32,079 |
Sales and marketing |  |  | 14,800 |  |  |  | 12,919 |  |  |  | 30,089 |  |  |  | 24,470 |
General and administrative |  |  | 11,004 |  |  |  | 9,700 |  |  |  | 20,744 |  |  |  | 19,146 |
Total stock-based compensation |  | $ | 48,686 |  |  | $ | 44,128 |  |  | $ | 95,796 |  |  | $ | 85,918 |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI https://asc.fasb.org/topic&trid=2228938 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (l) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration