Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 339

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 8
Chunk 339
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 plans was as follows:As of July 31, 2025Unrecognized Expense (in thousands)Weighted-Average Expected Recognition Period (in years)Stock options$139 2.6RSUs294,887 2.2PSUs18,817 2.3Total unrecognized stock-based compensation expense$313,843 2.2

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ASANA, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

2020 Employee Stock Purchase PlanIn September 2020, the Company’s board of directors adopted and approved the 2020 Employee Stock Purchase Plan (“ESPP”), which became effective on the effective date of the Company's registration statement on Form S-1 filed with the SEC in connection with the direct listing. The ESPP initially reserved and authorized the issuance of up to a total of 2,000,000 shares of Class A common stock to participating employees. The number of shares reserved under the ESPP was automatically increased on February 1, 2021 to 3,614,801 shares of Class A common stock, to 5,497,785 on February 1, 2022, to 7,640,712 on February 1, 2023, to 9,887,991 on February 1, 2024, and to 12,216,871 on February 1, 2025, all pursuant to the evergreen provisions of the ESPP.Subject to any limitations contained therein, the ESPP allows eligible participants to contribute, through payroll deductions, up to 15% of their eligible compensation to purchase shares of the Company’s Class A common stock at a purchase price equal to 85% of the fair market value of the Class A common stock on either the first day of the offering period or the purchase date, whichever fair market value is lower. The ESPP generally provides for consecutive 24-month offering periods, each consisting of four separate consecutive purchase periods of approximately six months in length. The ESPP also includes a two year look back in purchase price, including a reset feature. The reset feature is triggered if the price on the date of purchase is less than the price on the first day of the offering period. The Company recognized stock-based compensation expense related to the ESPP of $1.5 million and $2.9 million during the three months ended July 31, 2025 and 2024, respectively, and $3.7 million and $5.