Related Party Transactions

12 Months Ended

Jan. 31, 2022


16			Related Party Transactions

For a description of certain related party transactions, see Note 12, Conver tible Preferred Stock and Stockholders ' Equity (Deficit)—Repurchase and Retirement of Common Stock, —Tender Offer Transactions, and —Secondary Transactions.

On February 6, 2019 and March 6, 2019, we entered into loan agreements with our Chief Financial Officer which provided him a total loan amount of $0.2 million to facilitate his exercise of stock options under the 2018 Stock Plan. These loan agreements are nonrecourse; we deemed these transactions as a modification of the original vested stock options, and the incremental charges recognized as a result of this modification were immaterial. Each of these loans was repaid on November 3, 2020.

In August 2019, an immediate family member of our Chief Executive Officer, Co-Founder, and Chairman entered into an employment agreement with a third-party personnel supplier contracted by us to serve as a security specialist. Pursuant to this agreement, we paid $0.2 million and $0.2 million in compensation (through the third-party supplier and in the form of cash and RSUs) for fiscal year 2021 and 2020, respectively. In March 2021, we hired this individual and granted him options to purchase 7 thousand shares of Class A common stock at an exercise price of $0.10 per share, with an aggregate estimated fair value of $0.4 million. Additional compensation during fiscal year 2022 was not material.

Beginning in the third quarter of fiscal 2022, we have made use of an aircraft owned by our Chief Executive Officer through a special purpose limited liability company in which we have a variable interest. The aircraft is operated by a third-party aircraft management company. The CEO, through the special purpose limited liability company, obtained financing for the aircraft and bears all associated operating, personnel, and maintenance costs. For the fiscal year ended January 31, 2022, we incurred expenses of $1.1 million related to our business use of the aircraft.