Equity Awards and Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Total stock‑based compensation expense was as follows:

	Three Months Ended
	March 31,
	2022		2021
Bonus Plan expense (see Note 11)	$	8,161	$	6,124
Restricted stock and restricted stock units (“RSUs”) expense (1)	5,365		1,497
Stock option expense	756		998
ESPP expense (see Note 13)	680		449
DCP elective participant deferrals expense (2) (see Note 12)	137		—
Total stock-based compensation expense (3)	$	15,099	$	9,068

(1)Includes acquisition‑related shares for the three months ended March 31, 2022 (see Note 4).

(2)DCP elective participant deferrals expense excludes deferred incentive bonus payable pursuant to the Bonus Plan.

(3)As of March 31, 2022 and December 31, 2021, $8,658 and $6,749 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,
	2022		2021
Cost of subscriptions and licenses	$	385	$	89
Cost of services	383		243
Research and development	5,395		3,955
Selling and marketing	1,454		788
General and administrative	7,482		3,993
Total stock-based compensation expense	$	15,099	$	9,068

Schedule of Options

The following is a summary of stock option activity and related information under the Company’s applicable equity incentive plans:

				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Stock	Exercise Price		Contractual	Intrinsic
	Options	Per Share		Life (in years)	Value
Outstanding, December 31, 2021	6,917,925	$	5.26
Exercised	(1,715,908)	4.42
Forfeited	(25,125)	5.56
Outstanding, March 31, 2022	5,176,892	$	5.54	1.6	$	200,026
Exercisable, March 31, 2022	3,144,392	$	5.55	1.6	$	121,455

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-
							Based		Based
			Time-		Performance-		Weighted		Weighted
	Total		Based		Based		Average		Average
	Restricted		Restricted		Restricted		Grant Date		Grant Date
	Stock		Stock		Stock		Fair Value		Fair Value
	and RSUs		and RSUs		and RSUs		Per Share		Per Share
Unvested, December 31, 2021	1,708,545		1,611,862		96,683	(4)	$	32.81	$	49.93
Granted	1,377,889	(1)	1,072,104	(3)	305,785	(5)	39.26		39.26
Vested	(95,877)		(4,707)		(91,170)	(4)	44.20		49.93
Forfeited	(20,044)		(14,531)		(5,513)		39.27		49.93
Unvested, March 31, 2022	2,970,513	(2)	2,664,728		305,785		$	35.35	$	39.26

(1)For the three months ended March 31, 2022, the Company only granted RSUs.

(2)Includes 67,957 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)Relates to the 2021 annual performance period. Total stock‑based compensation expense associated with these awards was fully recognized as of December 31, 2021.

(5)Relates to the 2022 annual performance period, except for 185,186 performance‑based RSUs granted during the three months ended March 31, 2022 with extraordinary terms, which are described below.