Company: QLYS
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001107843-25-000031
Chunk: 194

Company: QUALYS, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 194
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 the fair market value of the Company's stock on the purchase date (i.e., the last trading day of the offering period).During the six months ended June 30, 2025, 37 thousand shares were issued in connection with the purchase of common stock by participating employees. As of June 30, 2025, 398 thousand shares were available for future purchase.Stock OptionsStock options granted under the Restated 2012 Plan and Previous 2012 Plan (collectively, the "Plans") generally vest based on continued service over four years and expire ten years from the date of grant. A summary of the Company’s stock option activity during the six months ended June 30, 2025 is as follows:Outstanding OptionsWeighted Average ExercisePriceWeighted Average RemainingContractual LifeAggregate Intrinsic Value(in thousands)(Years)(in thousands)Balance as of December 31, 20241,314$113.07 6.6$40,141 Granted97$132.27 Exercised(113)$49.15 Canceled(46)$140.70 Balance as of June 30, 20251,252$119.34 6.6$33,004 Vested and expected to vest as of June 30, 20251,147$117.51 6.4$32,029 Exercisable as of June 30, 2025791$108.36 5.5$28,532 Restricted Stock UnitsRSUs granted under the Plans generally only contain a service-based vesting condition that is typically satisfied over four years.The Company, at times, grants performance-based restricted stock units ("PRSU") under the Plans, to its executive officers and certain other members of its senior leadership team. These PRSUs include both service-based and performance-based vesting conditions. During the fourth quarter each year, the Company’s board of directors (the "Board") or the Compensation and Talent Committee ("CTC") approves the target value for the PRSUs. The target PRSUs are scheduled to vest in three equal annual installments over a three-year  period, beginning the year after approval. The performance-based vesting condition is satisfied upon the achievement of certain Company annual performance metrics, including revenue growth and adjusted EBITDA margin, which are approved annually by the Board or the CTC. Each annual installments at 200% of the annual target will be considered granted when the performance metrics for the corresponding performance year is