Company: QLYS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001107843-25-000017
Chunk: 157

Company: QUALYS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 157
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 at 200% of the annual target will be considered granted when the performance metrics for the corresponding performance year is determined and approved. The actual number of the PRSUs earned and eligible to vest ranges from 0% to 200% of the annual target, based on the weighted-average achievement of such Company annual performance metrics set for the corresponding annual performance period. Up to 100% of the first and second installment will vest and be released upon completion of the respective performance period following the certification by the Audit and Risk Committee ("ARC"), with cumulative achievement over 100%, if any, to be vested and released at the end of the third year performance period, along with the third installment, following the certification by the ARC. Under the Plan, any 

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unvested PRSU award may be accelerated in part or in full upon the occurrence of certain events, such as death or disability, or a change in control, as defined in the grant agreement.A summary of the Company’s RSU activity, inclusive of PRSU activity, during the three months ended March 31, 2025 is as follows:Outstanding RSUsWeighted Average Grant Date Fair ValuePer Share(in thousands)Balance as of December 31, 20241,086(1)$140.72 Granted192(2)$139.73 Vested(172)(3)$147.54 Forfeited(135)(4)$152.02 Balance as of March 31, 2025971(5)$137.73 Outstanding and expected to vest as of March 31, 2025760$137.06 (1)Included 161 thousand PRSUs granted to certain executive officers in 2024, 2023, 2022 and 2021.(2)Included 164 thousand PRSUs granted to certain executive officers in the three months ended March 31, 2025.(3)Included 90 thousand PRSUs granted to certain executive officers in 2024, 2023, 2022 and 2021.(4)Included 70 thousand PRSUs granted to certain executive officers in 2024, 2023, 2022 and 2021.(5)Included 165 thousand PRSUs granted to certain executive officers in 2025, 2024, 2023, 2022 and 2021. Stock-based CompensationThe following table shows a summary of the stock-based compensation expenses included in the condensed consolidated statements of operations:Three