Company: QLYS
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001107843-25-000031
Chunk: 154

Company: QUALYS, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 154
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 periods beginning on or about August 16 and February 16 of each 

20

year. Eligible employees who elect to participate can contribute from 1% to 15% of their eligible compensation through payroll withholding. During any offering period, contribution rates cannot be changed. However, eligible employees may withdraw 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 six months ended June 30, 2025, 37 thousand shares were issued in connection with the purchase of common stock by participating employees. As of June 30, 2025, 398 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 six months ended June 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 Granted97$132.27 Exercised(113)$49.15 Canceled(46)$140.70 Balance as of June 30, 20251,252$119.34 6.6$33,004 Vested and expected to vest as of June 30, 20251,147$117.51 6.4$32,029 Exercisable as of June 30, 2025791$108.36 5.5$28,532 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