Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Stock-based compensation expense, including cash settled, for the three and nine months ended September 30, 2022 and 2021 was recorded as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
in thousands	2022		2021		2022		2021
Cost of subscription revenue	$	4,905	$	2,516	$	13,783	$	8,522
Cost of professional services and other revenue	9,445		6,977		25,754		18,161
Research and development	28,722		33,697		115,553		89,410
Sales and marketing	55,622		36,651		155,540		94,917
General and administrative	148,582		196,979		467,962		553,582
Total stock-based compensation expense, including cash settled	247,276		276,820		778,592		764,592

The following table sets forth the outstanding Qualtrics RSUs and related activity for the nine months ended September 30, 2022:


	Number of RSUs (in thousands)	Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2021	82,164	$	43.11
Granted	32,117	21.69
Vested	(28,824)	42.03
Forfeited/Canceled	(5,208)	37.19
Outstanding as of September 30, 2022	80,249	$	35.31

The following table sets forth the outstanding common stock options and related activity for the nine months ended September 30, 2022:


	Number of Options (in thousands)	Weighted-Average Exercise Price per Share		Weighted-Average Remaining Term (years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2021	1,855	$	4.84	6.3	$	56,684
Exercised	(257)	4.11
Forfeited/Expired	(27)	6.34
Outstanding as of September 30, 2022	1,571	$	4.93	5.4	$	8,238
Vested and exercisable at September 30, 2022	787	$	4.61	5.4	$	4,387