Company: QLYS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001107843-25-000038
Chunk: 169

Company: QUALYS, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 169
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 from the current offering period. Any contributions made prior to each purchase date in the case of withdrawal or termination of employment will be refunded. On each purchase date, eligible participating employees will purchase the shares at a price per share equal to 85% of the lesser of (i) the fair market value of the Company's stock on the first trading day of the offering period or (ii) the fair market value of the Company's stock on the purchase date (i.e., the last trading day of the offering period).During the nine months ended September 30, 2025, 64 thousand shares were issued in connection with the purchase of common stock by participating employees. As of September 30, 2025, 371 thousand shares were available for future purchase.Stock OptionsStock options granted under the Restated 2012 Plan and Previous 2012 Plan (collectively, the "Plans") generally vest based on continued service over four years and expire ten years from the date of grant. A summary of the Company’s stock option activity during the nine months ended September 30, 2025 is as follows:Outstanding OptionsWeighted Average ExercisePriceWeighted Average RemainingContractual LifeAggregate Intrinsic Value(in thousands)(Years)(in thousands)Balance as of December 31, 20241,314$113.07 6.6$40,141 Granted192$132.66 Exercised(180)$49.12 Canceled(71)$139.98 Balance as of September 30, 20251,255$123.72 6.8$18,450 Vested and expected to vest as of September 30, 20251,141$122.32 6.6$18,143 Exercisable as of September 30, 2025781$115.30 5.7$16,921 Restricted Stock UnitsRSUs granted under the Plans generally only contain a service-based vesting condition that is typically satisfied over four years.The Company, at times, grants performance-based restricted stock units ("PRSU") under the Plans, to its executive officers and certain other members of its senior leadership team. These PRSUs include both service-based and performance-based vesting conditions. During the fourth quarter each year, the Company’s board of directors (the "Board") or the Compensation and Talent Committee ("CTC") approves the target value for the PRSUs. The target PRSUs are scheduled to vest in three equal annual installments over