Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 70

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 were made in open market transactions.As of July 31, 2025, the Company is authorized to repurchase a remaining $39.5 million of its common stock under the share repurchase program.

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Table of ContentsnCino, Inc.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(In thousands, except share and per share amounts and unless otherwise indicated)

Stock OptionsStock option activity for the six months ended July 31, 2025 was as follows:Number ofSharesWeightedAverageExercise PriceOutstanding, January 31, 2025811,602 $7.22 Expired or forfeited(1,627)14.70 Exercised(247,346)5.19 Outstanding, July 31, 2025562,629 $8.09 Exercisable, July 31, 2025562,629 $8.09 Fully vested or expected to vest, July 31, 2025562,629 $8.09 Restricted Stock UnitsRSU activity during the six months ended July 31, 2025 was as follows:Number ofSharesWeighted AverageGrant Date FairValueNonvested, January 31, 20256,105,459 $32.78 Granted3,318,737 24.50 Vested(1,670,647)34.77 Forfeited(802,089)31.01 Nonvested, July 31, 20256,951,460 $28.57 As of July 31, 2025, total unrecognized compensation expense related to non-vested RSUs was $166.6 million, adjusted for estimated forfeitures, based on the estimated fair value of the Company’s common stock at the time of grant. That cost is expected to be recognized over a weighted average period of 2.91 years.Employee Stock Purchase PlanThe first offering period for the Employee Stock Purchase Plan ("ESPP") began on July 1, 2021 and ended on December 31, 2021. Thereafter, offering periods begin each year on January 1 and July 1.The fair value of ESPP shares during the six months ended July 31, 2024 and 2025 was estimated at the date of grant using the Black-Scholes option valuation model based on assumptions as follows for ESPP awards: Six Months Ended July 31,202420