Company: BL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666134-25-000016
Chunk: 18

Company: BLACKLINE, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 the Company has not accrued a liability for these indemnification arrangements because the likelihood of incurring a payment obligation, if any, in connection with these indemnification arrangements was not probable or reasonably estimable.

Note 14 – Unearned Revenue and Performance Obligations 

Revenue totaling $138.4 million and $129.6 million was recognized during the quarters ended March 31, 2025 and 2024, respectively, that was previously included in the deferred revenue balance at December 31, 2024 and 2023, respectively.Contracted but unrecognized revenue was $913.2 million at March 31, 2025, of which the Company expects to recognize approximately 56% over the next 12 months and the remainder thereafter.

Note 15 – Subsequent Events

On April 2, 2025, the Compensation Committee of the Board of Directors of BlackLine, Inc. approved restricted stock unit grants totaling 1.7 million shares. Each restricted stock unit entitles the recipient to receive one share of common stock upon vesting of the award. The majority of the restricted stock units will vest as to one-fourth of the total number of units awarded on the first anniversary of February 20, 2025 and quarterly thereafter for 12 consecutive quarters.On April 2, 2025, the Compensation Committee approved grants of performance and service-based restricted stock units totaling 0.2 million target shares. Once specified performance metrics are met, each performance stock unit entitles the recipient to receive one share of common stock upon vesting of the award. The performance and service-based restricted stock units will vest as to one-third of the total number of units awarded equally over the next three years. Grant dates will be established upon approval of the performance metrics for the respective years of the performance period, and the grant-date fair value per share will be equal to the closing price on the grant date for each tranche.On April 2, 2025, the Compensation Committee approved grants of market and service-based restricted stock units totaling 0.2 million target shares. The awards are tied to relative total shareholder return measured over a three-year performance period with vesting occurring in February of the year following the end of the performance period. Grant dates were established upon award approval, and the grant-date fair value per share was estimated using the Monte Carlo valuation simulation model that incorporates various assumptions, including stock price volatility, risk-free interest rate, and the performance of our stock price relative to the applicable peer group