Company: PHR
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001412408-25-000039
Chunk: 92

Company: Phreesia, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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 and expired — Outstanding, April 30, 20251,204,971 As of April 30, 2025, unrecognized compensation cost for the PSUs was $30,173, to be recognized over a weighted average remaining vesting period of 2.2 years, subject to the participants' continued employment with the Company. (f) Employee stock purchase planThe ESPP is a compensatory plan because it provides participants with terms that are more favorable than those offered to other holders of the Company's common stock. Employees purchase shares at the lesser of (1) 85% of the closing stock price on the first day of the offering period or (2) 85% of the closing stock price on the last day of the offering period. The ESPP is structured as a qualified employee stock purchase plan under Section 423 of the U.S. Internal Revenue Code of 1986. As of April 30, 2025, unrecognized compensation cost related to the ESPP was $188, to be recognized over the next two months.(g) Liability awardsAt the beginning of each year, the Company provides eligible employees the option to elect to receive all or a portion of their incentive compensation in the form of immediately vested restricted stock units instead of cash. Restricted stock units issued to settle liability awards are covered by the 2019 Plan. Share-settled bonus awards will be settled at a value equal to 115% of the cash bonuses. These share-settled bonus awards vest based on the achievement of the Company’s predefined performance targets. As share-settled bonus awards will be settled in a variable number of shares, the Company classifies share-settled bonus awards as liabilities within accrued expenses in the accompanying consolidated balance sheets until they are settled in shares and included in stockholders' equity. The Company’s share-settled bonus awards are settled semiannually. During the three months ended April 30, 2025, the Company settled $6,508 of share-settled bonus awards by issuing 267,687 immediately vested RSUs. See (c) Restricted stock units above for additional discussion regarding RSUs.

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Table of Contents

9. Fair value measurements

The following table presents information about the Company's assets and liabilities that are measured at fair value as of April 30, 2025 and indicates the classification of each item within the fair value hierarchy: Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (