Stock-Based Compensation (Tables)

9 Months Ended

12 Months Ended

May 16, 2022

Jun. 30, 2022

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]


	Year Ended June 30,
	2023		2022
Risk-free interest rate	3.4	%	3.0	%
Expected dividend yield	None		None
Expected life (in years)	4.8		5.2
Expected volatility factor	38.2	%	36.1	%

Stock-based compensation expense

The stock-based compensation expense and its classification in the accompanying consolidated and combined statements of operations for fiscal 2023, 2022 and 2021 was as follows:


	Year Ended June 30, 2023		Nine Months Ended June 30, 2022		Year Ended September 30, 2021
	(Dollars in Thousands)
Recorded as expenses:
Cost of license and solutions	$	3,565	$	1,351	$	—
Cost of maintenance	1,893		344		—
Cost of service and other	1,995		282		—
Selling and marketing	16,202		2,850		—
Research and development	21,790		3,507		—
General and administrative	39,405		7,429		1,744
Total stock-based compensation	$	84,850	$	15,763	$	1,744

Stock options and RSU activity

A summary of stock option and RSU activity under all equity plans in fiscal 2023 and 2022 is as follows:


	Stock Options						Restricted Stock Units
	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in 000’s)		Shares	Weighted Average Grant Date Fair Value
Outstanding at September 30, 2021	—	$	—	—	$	—	—	$	—
Issuance of replacement awards	1,165,494	101.44					453,397	166.30
Issuance of non-replacement awards	76,056	193.55					124,226	193.70
Settled (RSUs)							(87,930)	188.32
Exercised	(62,250)	93.32
Cancelled / Forfeited	(3,447)	138.78					(5,149)	184.62
Outstanding at June 30, 2022	1,175,853	$	120.03	7.06	$	75,597	484,544	$	188.45
Granted	208,361	205.46					257,773	201.59
Settled (RSUs)							(244,161)	193.72
Exercised	(347,238)	96.12
Cancelled / Forfeited	(31,150)	178.39					(41,788)	194.48
Outstanding at June 30, 2023	1,005,826	$	144.17	6.44	$	32,935	456,368	$	192.55
Exercisable at June 30, 2023	643,086	$	125.00	5.42	$	29,872
Vested and expected to vest at June 30, 2023	983,744	$	143.36	6.39	$	32,719	390,284	$	192.37

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

The fair value of the replacement awards that are attributable to pre- and post-combination services was as follows:


	Pre-combination portion		Post-combination portion
	(Dollars in Thousands)
Restricted stock units	$	22,422	$	61,898
Stock options	79,883		34,752
Total	$	102,305	$	96,650