Company: QLYS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001107843-25-000038
Chunk: 211

Company: QUALYS, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 211
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DA margin, which are approved annually by the Board or the CTC. Each annual installments 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 nine months ended September 30, 2025 is as follows:Outstanding RSUsWeighted Average Grant Date Fair ValuePer Share(in thousands)Balance as of December 31, 20241,086(1)$140.72 Granted455(2)$135.13 Vested(343)(3)$141.93 Forfeited(189)(4)$148.40 Balance as of September 30, 20251,009(5)$136.34 Outstanding and expected to vest as of September 30, 2025769$136.10 (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 nine months ended September 30, 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 and 2022. Stock-based CompensationThe following table shows a summary