Company: PHR
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0001412408-25-000062
Chunk: 101

Company: Phreesia, Inc.
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 101
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 Stock optionsOptions granted under the equity award plans have a maximum term of ten years and vest over a period determined by the Board of Directors (generally four years from the date of grant or the commencement of the grantee’s employment with the Company). Options generally vest 25% at the one-year anniversary of the grant date, after which point they generally vest pro rata on a monthly basis.

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Stock option activity for the six months ended July 31, 2025 is as follows:Number ofoptionsWeighted-averageexercise priceWeighted-averageremainingcontractual life(in years)Aggregate IntrinsicvalueOutstanding, January 31, 2025899,381 $7.39 Granted in six months ended July 31, 2025— $— Exercised(42,210)$5.70 Forfeited and expired— $— Outstanding and expected to vest, July 31, 2025857,171 $7.47 3.24$16,705 Exercisable, July 31, 2025857,171 $7.47 3.24$16,705 The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company’s estimated stock price at the time of exercise and the exercise price, multiplied by the number of related in-the-money options) that would have been received by the option holders had they exercised their options at the end of the period. This amount changes based on the market value of the Company’s common stock. The total intrinsic value of options exercised for the six months ended July 31, 2025 and 2024 (based on the difference between the Company’s estimated stock price on the exercise date and the respective exercise price, multiplied by the number of options exercised), was $881 and $2,165, respectively.As of July 31, 2025 and January 31, 2025, all compensation costs related to stock options issued to employees have been recorded, and there is no unrecognized compensation cost remaining.(e) TSR performance-based stock units (“PSUs”)The Company grants PSUs to certain members of its management team. PSUs vest over approximately three years from the grant date upon satisfaction of both time-based requirements and market targets based on Phreesia's TSR relative to the TSR of each member of the Russell 3000 Index (the "Peer Group"). Depending on the percentage level at which the market