Company: ASAN
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001477720-25-000107
Chunk: 253

Company: Asana, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 8
Chunk 253
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Unvested RSUs at April 30, 202518,063 $18.18 $290,504 RSUs vested, not yet released at April 30, 2025561 $33.97 

19

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

The weighted-average grant date fair value of RSUs granted during the three months ended April 30, 2025 and 2024 was $18.46 and $18.31, respectively. The total grant date fair value of RSUs vested during the three months ended April 30, 2025 and 2024 was $45.4 million and $53.0 million, respectively.Stock-Based Compensation ExpenseStock-based compensation expense for stock-based awards to employees and non-employees in the Company’s condensed consolidated statements of operations for the periods below were as follows (in thousands):Three Months Ended April 30,20252024Cost of revenues$344 $283 Research and development24,364 26,740 Sales and marketing14,823 15,248 General and administrative8,636 6,369 Total stock-based compensation expense$48,167 $48,640 The stock-based compensation expense related to awards granted to non-employees for the three months ended April 30, 2025 and 2024 were not material.Total unrecognized stock-based compensation expense related to unvested awards not yet recognized under all equity compensation plans was as follows:As of April 30, 2025Unrecognized Expense (in thousands)Weighted-Average Expected Recognition Period (in years)Stock options$155 2.8RSUs290,670 2.5Total unrecognized stock-based compensation expense$290,825 2.52020 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