Related Party Transactions

12 Months Ended

Jan. 31, 2022

13. Related Party Transactions

In December 2020, the Company’s board of directors facilitated a tender offer which allowed the Company’s current and former team members and founders to sell ordinary shares and vested options to a set of existing investors. These investors purchased 3,887,156 ordinary shares, 408,211 preferred shares, and 556,816 vested options for a total purchase price of $194.1 million. The fair value was $16.71 per share/vested option and the transaction price was $40.00 per ordinary share/vested option. The Company recorded $103.3 million incremental stock-based compensation expense in the consolidated statements of operations for fiscal 2021.

In connection with the above tender offer, during the year ended January 31, 2022, the Company repurchased 13,000 shares of Class B common stock from certain team members (ineligible to participate in the original fiscal 2021 tender offer) of vested stock options for an aggregate amount of $0.6 million. The excess of the transaction price over the fair value of the instruments repurchased has been recognized as additional stock-based compensation expense of $0.3 million. Shares repurchased have

been retired and deducted from common stock for par value and from additional paid in capital for the excess over par value.

Total stock-based compensation expense related to the above-mentioned tender offers included in the consolidated statements of operations was as follows (in thousands):


	Fiscal Year Ended January 31,
	2022		2021		2020
Cost of revenue	$	—	$	878	$	231
Sales and marketing	344		18,362		2,887
Research and development	—		28,916		10,165
General and administrative	—		55,666		23,887
Total stock-based compensation expense related to tender offers	$	344	$	103,822	$	37,170