Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 106

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 106
---
% of the fair market value of our Class A common stock on the corresponding purchase date.

107

UiPath, Inc.Notes to Consolidated Financial Statements 

Outstanding Equity AwardsStock OptionsStock options granted under the 2021 Plan generally vest over three to four years and expire ten years from the date of grant. Vested stock options generally expire three months after termination of employment. Stock option activity during fiscal year 2025 was as follows:Options OutstandingStock Options (in thousands)Weighted-AverageExercise PriceWeighted-AverageRemaining ContractualLife (years)Aggregate IntrinsicValue (in thousands)Balance as of January 31, 202411,080 $3.49 7.8$216,010 Granted2,738 $0.10 Exercised(4,002)$2.01 Forfeited(1,881)$13.91 Expired— $— Balance as of January 31, 20257,935 $0.60 7.5$108,138 Vested and exercisable as of January 31, 20253,017 $1.39 5.8$38,695 The weighted-average grant date fair value of stock options granted during fiscal years 2025, 2024, and 2023 was $18.00, $16.84 and $12.23 per share, respectively. The intrinsic value of stock options exercised during fiscal years 2025, 2024, and 2023 was $58.5 million, $93.2 million, and $83.6 million, respectively.As of January 31, 2025, unrecognized compensation expense associated with unvested stock options granted and outstanding was $78.9 million, to be recognized over a weighted-average remaining period of 1.8 years.Fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:Year Ended January 31,202520242023Expected term (years)5.75.95.9Expected volatility64.2%65.2%60.6%Risk-free interest rate4.2%3.6%3.5%Expected dividend yield0.0%0.0%0.0%During fiscal year 2023, our compensation committee approved modifications to allow acceleration of the service-based vesting condition of certain employee stock options upon termination