Company: ASAN
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001477720-25-000107
Chunk: 257

Company: Asana, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 8
Chunk 257
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 development$1,042 $(94)$948 Sales and marketing885 (54)831 General and administrative460 (22)438 Total$2,387 $(170)$2,217 

Note 15.     Subsequent Events

On May 30, 2025, the Company's board of directors amended the Repurchase Program to remove the expiration date of the Repurchase Program and authorized the repurchase of an additional $100.0 million of the Company’s outstanding Class A common stock pursuant to the Repurchase Program. As of April 30, 2025, $56.0 million remained available for future stock repurchases under the Repurchase Program, and, after the increase, the Company now has a total of $156.0 million available for future repurchases under the Repurchase Program.Under the Repurchase Program, the Company may repurchase shares in the open market, through privately negotiated 

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ASANA, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

transactions, by entering into structured repurchase agreements with third parties, by making block purchases, and/or pursuant to Rule 10b5-1 trading plans. The timing, manner, price, and amount of any repurchases under the Repurchase Program will be determined by the Company in its discretion. The Repurchase Program does not obligate the Company to acquire any particular amount of Class A common stock, and the Repurchase Program may be suspended or discontinued at any time at the Company’s discretion. Repurchases under the Repurchase Program are expected to be funded from existing cash and cash equivalents. The Repurchase Program, as amended, has no specified expiration date and will continue until the funds committed to the Repurchase Programs are exhausted or such authorization is revoked by the Company’s board of directors.On May 29, 2025, the Company entered into the Fourth Amendment to the November 2022 Senior Secured Credit Facility with SVB which increased the amount of cash that the Company may use to repurchase its Class A common stock pursuant to the Repurchase Program permitted under the November 2022 Senior Secured Credit Facility to $250.0 million and removed the expiration date of the Repurchase Program to allow repurchases under the Repurchase Program to continue until the funds committed to the Repurchase Program are exhausted or such authorization is revoked by the Company’s board of directors.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS