v3.25.4
Stock-Based Compensation (Tables)
12 Months Ended
Nov. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
A summary of stock option activity under all the plans is as follows: 
 Shares
(in thousands)
Weighted Average Exercise PriceWeighted Average Remaining Contractual Term
(in years)
Aggregate Intrinsic Value
(in thousands)
Options outstanding, December 1, 20241,826 $45.89 
Granted428 52.61 
Exercised(185)38.35 
Canceled(115)44.52 
Options outstanding, November 30, 20251,954 $48.45 3.8$458 
Exercisable, November 30, 20251,231 $45.99 2.9$458 
Vested or expected to vest, November 30, 20251,954 $48.45 3.8$458 
Schedule of Status of Restricted Stock Units
A summary of restricted stock units' activity is as follows:
 
(in thousands, except per share data)Number of SharesWeighted Average Fair Value
Restricted stock units outstanding, December 1, 20241,402 $54.62 
Granted1,275 53.30 
Issued(822)52.19 
Canceled(104)54.84 
Restricted stock units outstanding, November 30, 20251,751 $54.79 
Schedule of Valuation Assumptions
We estimated the fair value of stock options and ESPP awards granted in fiscal years 2025, 2024, and 2023 on the measurement dates using the Black-Scholes option valuation model, and LTIP awards using the Monte Carlo Simulation valuation model, with the following weighted average assumptions:
 
Fiscal Year Ended
November 30, 2025November 30, 2024November 30, 2023
Stock options:
Expected volatility23.7 %27.3 %30.6 %
Risk-free interest rate4.3 %4.1 %3.5 %
Expected life (in years)4.84.84.8
Expected dividend yield— %1.2 %1.4 %
Employee stock purchase plan:
Expected volatility25.7 %24.5 %26.9 %
Risk-free interest rate4.1 %4.7 %4.9 %
Expected life (in years)1.21.21.2
Expected dividend yield1.1 %1.3 %1.3 %
Long-term incentive plan:
Expected volatility27.4 %26.9 %31.4 %
Risk-free interest rate4.3 %4.1 %3.8 %
Expected life (in years)2.92.82.9
Expected dividend yield— %— %— %
Schedule of Stock Options and Stock Awards Activity
The following additional activity occurred under our plans:
 
Fiscal Year Ended
(in thousands)November 30, 2025November 30, 2024November 30, 2023
Total intrinsic value of stock options on date exercised$5,646 $7,471 $12,171 
Total fair value of deferred stock units on date vested$1,531 $1,600 $2,260 
Total fair value of restricted stock units on date vested$42,261 $47,145 $33,402 
Schedule of Classification of Stock-Based Compensation
The following table provides the classification of stock-based compensation as reflected in our consolidated statements of operations:
 
Fiscal Year Ended
(in thousands)November 30, 2025November 30, 2024November 30, 2023
Cost of maintenance, SaaS, and professional services$5,818 $3,540 $2,976 
Sales and marketing13,277 8,964 6,797 
Product development19,410 13,551 12,214 
General and administrative26,263 20,701 18,542 
Total stock-based compensation$64,768 $46,756 $40,529 
Income tax benefit included in the provision for income taxes$11,155 $10,091 $9,355