Company: PHR
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001412408-25-000039
Chunk: 89

Company: Phreesia, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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30, 2025, there were 7,851,562 shares available for future grant pursuant to the 2019 Plan after factoring in the automatic increase that occurs on February 1 of each fiscal year, as well as an additional 279,958 shares available for future grant pursuant to the ESPP. The ESPP has two six-month offering periods each calendar year beginning in January and July. The ESPP allows eligible employees to purchase shares of the Company’s common stock at a 15% discount through payroll deductions. As of April 30, 2025, there were 12,467 outstanding restricted stock units and 482,658 shares available for future grant under the Inducement Plan.(b) Summary of stock-based compensationThe following table sets forth stock-based compensation by type of award:Three months endedApril 30, 20252024RSUs$9,591 $11,323 PSUs4,355 2,804 Liability awards3,336 2,697 ESPP275 364 Total stock-based compensation$17,557 $17,188 The following table sets forth the presentation of stock-based compensation in the Company's financial statements:Three months endedApril 30, 20252024Stock-based compensation expense recorded to additional paid-in capital$14,221 $14,491 Stock-based compensation expense recorded to accrued expenses3,336 2,697 Total stock-based compensation$17,557 $17,188 Less: stock-based compensation expense capitalized as internal-use software(332)(348)Stock-based compensation expense per consolidated statements of operations$17,225 $16,840 The Company has not recognized, and does not expect to recognize in the foreseeable future, any tax benefit related to employee stock-based compensation expense. During the three months ended April 30, 2025 and 2024, the Company reduced stock compensation expense by $107 and $1,021, respectively, for improbable-to-probable modifications of stock compensation awards.(c) Restricted stock unitsThe Company has issued RSUs to employees and independent directors that vest based on a time-based condition. RSUs granted to employees vest over four years based on a variety of vesting schedules, including quarterly, annually, and 10/20/30/40 (10% after one year, 20% after two years, 30% after three years and 40% after four years). RSUs granted during fiscal 2024 generally vest annually,