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Stockholders’ Equity and Equity Incentive Plans
9 Months Ended
Oct. 31, 2021
Stockholders' Equity Note [Abstract]  
Stockholders’ Equity and Equity Incentive Plans Stockholders’ Equity and Equity Incentive Plans
Common Stock
In connection with our initial public offering (“IPO”) in April 2019, our amended and restated certificate of incorporation became effective, which authorized the issuance of 2,000,000,000 shares of Class A common stock, $0.001 par value per share, and 300,000,000 shares of Class B common stock, $0.001 par value per share. Class A and Class B common stock are referred to as common stock throughout the notes to the condensed consolidated financial statements, unless otherwise noted.
Equity Incentive Plans
We have two equity incentive plans: the 2011 Global Share Plan (“2011 Plan”) and the 2019 Equity Incentive Plan (“2019 Plan”). All shares that remain available for future grants are under the 2019 Plan.
Stock Options
A summary of stock option activity under our equity incentive plan and related information is as follows:
 Stock Options
Outstanding
Stock
Options
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic
Value
(in thousands, except share, life, and per share data)
Balance as of January 31, 20219,239,504 $7.17 7.0$3,371,457 
Granted— $— 
Exercised(2,205,249)$5.01 
Canceled/forfeited/expired(128,780)$9.32 
Balance as of October 31, 20216,905,475 $7.83 6.3$1,842,547 
Vested and exercisable as of October 31, 20214,978,217 $5.16 6.0$1,341,584 
As of October 31, 2021, unrecognized stock-based compensation expense related to outstanding unvested stock options was $26.1 million, which is expected to be recognized over a weighted-average period of 0.9 years.
Restricted Stock Units
A summary of restricted stock unit (“RSU”) activity under our equity incentive plan and related information is as follows:
RSUs
Unvested
RSUs
Weighted-
Average
Grant Date Fair Value Per Share
Unvested as of January 31, 20214,510,730 $194.57 
Granted2,046,653 $312.71 
Vested(1,480,536)$187.38 
Canceled/forfeited(233,344)$248.84 
Unvested as of October 31, 20214,843,503 $244.07 
In October 2021, an update made to our equity compensation program resulted in the modification of the value of RSUs offered to our employees. This had an immaterial impact on our condensed consolidated statement of operations for the three months ended October 31, 2021.
As of October 31, 2021, unrecognized stock-based compensation expense related to RSUs was $1,243.8 million, including the impact of the modification, which is expected to be recognized over a weighted-average period of 2.6 years.
2019 Employee Stock Purchase Plan
In April 2019, we adopted the 2019 Employee Stock Purchase Plan (“ESPP”). As of October 31, 2021, unrecognized stock-based compensation expense related to the ESPP was $52.1 million, which is expected to be recognized over a weighted-average period of 1.6 years.
Stock-Based Compensation
The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:
Three Months Ended October 31,Nine Months Ended October 31,
2021202020212020
(in thousands)
Cost of revenue$17,206 $11,287 $46,050 $22,263 
Research and development27,879 16,035 71,615 31,269 
Sales and marketing54,220 46,716 156,888 96,237 
General and administrative15,496 19,887 41,359 29,788 
Total stock-based compensation expense$114,801 $93,925 $315,912 $179,557