Company: BL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666134-25-000016
Chunk: 159

Company: BLACKLINE, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 159
---
20252,255 Restricted stock units - performance and service conditionsThe following table summarizes activity for restricted stock units with performance and service vesting conditions with grant dates established (in thousands):Nonvested at December 31, 2024198 Granted171 Performance adjustment(97)Vested(101)Forfeited/canceled(19)Nonvested at March 31, 2025152The following table summarizes activity for restricted stock units with performance and service vesting conditions with no grant dates established (in thousands):Nonvested at December 31, 2024244 Granted (legal grant with no grant date established)— Granted (accounting grant date established)(171)Forfeited/canceled(7)Nonvested at March 31, 202566 Restricted stock units - market and service conditionsThe following table summarizes activity for restricted stock units with market and service-based conditions (in thousands):Nonvested at December 31, 2024202 Granted— Vested— Forfeited/canceled(21)Nonvested at March 31, 2025181Common Stock Repurchases

On November 17, 2024, the Company's Board of Directors authorized the repurchase of up to $200.0 million of the Company’s common stock. During the quarter ended March 31, 2025, the Company repurchased and retired approximately 0.9 million shares of common stock for $45.5 million as part of the share repurchase program under which approximately $154.5 million of buyback capacity remained at March 31, 2025. 

Note 11 – Income Taxes 

In determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date income, adjusted for discrete items arising in that quarter. The Company’s annual estimated effective tax rate differs from the United States (“U.S.”) federal statutory rate of 21% primarily as a result of non-deductible officer compensation, stock-based compensation shortfalls, foreign taxes, and changes in the Company’s valuation allowance for income taxes.For the quarters ended March 31, 2025 and 2024, the Company recorded income tax expense of $4.7 million and $0.9 million, respectively. The increase in income tax expense for the quarter ended March 31, 2025, compared 

17

to the quarter ended March 31, 2024, resulted primarily from stock