Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 41

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 41
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168 

105

UiPath, Inc.Notes to Consolidated Financial Statements 

12Stockholders' EquityCommon StockOur amended and restated certificate of incorporation authorizes a total of 2.0 billion shares of Class A common stock and 115.7 million shares of Class B common stock.Each share of Class B common stock will convert automatically into Class A common stock, on a one-to-one basis, upon certain circumstances, including: (1) the sale or transfer of such share of Class B common stock (except under certain circumstances described in the amended and restated certificate of incorporation), (2) a date fixed by the board of directors that is no less than 120 days and no more than 180 days following the date that the number of shares of Class B common stock outstanding is less than 20% of the number of shares of Class B common stock outstanding immediately prior to the completion of the IPO, or (3) six months after the death or incapacity of Daniel Dines. Class A common stock is entitled to one vote per share and Class B common stock is entitled to thirty-five votes per share.Stock Repurchase ProgramOn September 1, 2023, our board of directors authorized a stock repurchase program, pursuant to which we may repurchase from time to time up to $500.0 million of our outstanding shares of Class A common stock. This authorization was scheduled to expire on March 1, 2025. On August 30, 2024, our board of directors authorized the repurchase of an additional $500.0 million of our Class A common stock. The current authorization may be suspended or discontinued at any time and does not have a specified expiration date. Repurchases under the program may be effected through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital.We repurchased 31.8 million shares of our Class A common stock at an average price of $12.30 per share during fiscal year 2025 and 5.8 million shares of our Class A common stock at an average price of $17.57 per share during fiscal year 2024 (inclusive of brokerage commission). For fiscal year 2025, we accrued $