Company: PHR
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0001412408-25-000062
Chunk: 155

Company: Phreesia, Inc.
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 8
Chunk 155
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The Company has issued RSUs to employees and independent directors that vest based on a time-based condition. RSUs granted to employees vest over four years based on a variety of vesting schedules, including quarterly, annually, and 10/20/30/40 (10% after one year, 20% after two years, 30% after three years and 40% after four years). RSUs granted during fiscal 2024 generally vest annually, and RSUs granted during fiscal 2025 and 2026 generally vest following a 10/20/30/40 vesting schedule.Additionally, at the beginning of each fiscal year, the Company provides certain employees the option to settle their incentive bonus in immediately vested RSUs. RSUs granted to settle bonus awards are included in RSUs granted and vested in the table below. See section (g) Liability awards below for additional information regarding share-settled bonus awards.Restricted stock unitsUnvested, January 31, 20253,597,948 Granted in six months ended July 31, 2025672,814 Vested(939,633)Forfeited(193,008)Unvested, July 31, 2025(1)3,138,121 (1) Includes 9,500 awards granted pursuant to the 2023 Inducement Award Plan.As of July 31, 2025, there was $66,282 remaining of total unrecognized compensation cost related to these awards. The total unrecognized costs are expected to be recognized over a weighted-average term of 2.50 years. (d) 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 Forfe