Company: IOT
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0001642896-25-000074
Chunk: 96

Company: Samsara Inc.
Filing Date: 2025-09-09
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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5, the Company had no remaining unrecognized stock-based compensation expense related to outstanding stock options.

17

RSUs—RSUs granted prior to the IPO had both a service condition and a performance condition (defined under the 2015 Plan as the occurrence of a qualifying liquidity event, which was defined as the earlier of a successful IPO or acquisition). Stock-based compensation expense was only recognized for RSUs for which both the service condition and performance condition have been met. The service condition for these awards is generally satisfied over four years. The performance condition was satisfied upon the IPO. Prior to the IPO, the Company did not record expense on RSUs as a liquidity event upon which vesting is contingent was not probable of occurring. Following the closing of the IPO in December 2021, the Company began recording stock-based compensation expense for these RSUs using the accelerated attribution method, based on the grant-date fair value of the RSUs. RSUs granted after the IPO only have a service condition, and the related stock-based compensation expense is recognized on a straight-line basis over the requisite service period. The service condition for these awards is generally satisfied over four years for RSUs granted through fiscal year 2023 and either three or four years for RSUs granted after fiscal year 2023.A summary of the RSUs activity under the 2015 Plan and 2021 Plan during the six months ended August 2, 2025 is presented below:Number of SharesWeighted-AverageGrant-DateFair ValueBalance as of February 1, 202522,310,864 $23.14 Granted7,993,176 $35.69 Vested(7,299,314)$21.62 Forfeited(1,963,428)$26.03 Balance as of August 2, 202521,041,298 $28.17 As of August 2, 2025, unrecognized stock-based compensation expense related to outstanding unvested RSUs for employees that are expected to vest was approximately $551.6 million. The remaining unrecognized stock-based compensation expense is expected to be recognized over a weighted-average period of approximately 1.3 years.2021 Employee Stock Purchase Plan—In December 2021, the Board of Directors adopted and stockholders approved the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which became effective in December 2021 in connection with the IPO. The total number of shares of the Company’s Class A common stock reserved for future issuance