Company: PAYC
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000950170-25-024136
Chunk: 215

Company: Paycom Software, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 215
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        $300.76
         
        (4.5)
         
        $288.75

        Forfeited
         
        (31.3)
         
        $200.62
         
        (59.5)
         
        $257.66

        Unvested restricted stock units outstanding at December 31, 2024(1)
         
        23.6
         
        $198.54
         
        23.7
         
        $181.24
       
      (1)A maximum of 23,715 shares could be delivered upon settlement of PSUs based upon the Company’s achievement of the applicable performance goals over the applicable performance periods.For the year ended December 31, 2024, the Company recognized non-cash stock-based compensation expense, inclusive of forfeitures, that totaled a net benefit of $22.9 million. For the years ended December 31, 2023 and 2022, our total non-cash stock-based compensation expense was $129.8 million and $94.9 million, respectively.The following table presents the non-cash stock-based compensation expense that is included within the specified line items in our consolidated statements of comprehensive income:

        Year Ended December 31,

        2024

        2023

        2022

        Non-cash stock-based compensation expense:

        Operating expenses
         
        $
        13.5

        $
        10.6

        $
        4.7

        Sales and marketing

        19.0

        23.9

        18.7

        Research and development

        26.3

        22.3

        11.1

        General and administrative

        (81.7
        )

        73.0

        60.4

        Total non-cash stock-based compensation expense
         
        $
        (22.9
        )
         
        $
        129.8

        $
        94.9

76

Paycom Software, Inc.Notes to the Consolidated Financial Statements(tabular dollars and shares in millions, except per share and per unit amounts) 

The following table presents the unrecognized compensation cost and the related weighted average recognition period associated with unvested restricted stock awards and unvested restricted stock unit awards (including RSUs and PSUs) as of December 31, 2024:

        Restricted