Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 203

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 203
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 circumstances described in the amended and restated certificate of incorporation), (2) a date fixed by the board of directors that is no less than 120 days and no more than 180 days following the date that the number of shares of Class B common stock outstanding is less than 20% of the number of shares of Class B common stock outstanding immediately prior to the completion of the IPO, or (3) six months after the death or incapacity of Daniel Dines. Class A common stock is entitled to one vote per share and Class B common stock is entitled to thirty-five votes per share.Stock Repurchase ProgramOn September 1, 2023, our board of directors authorized a stock repurchase program, pursuant to which we may repurchase from time to time up to $500.0 million of our outstanding shares of Class A common stock. This authorization was scheduled to expire on March 1, 2025. On August 30, 2024, our board of directors authorized the repurchase of an additional $500.0 million of our Class A common stock. The current authorization may be suspended or discontinued at any time and does not have a specified expiration date. Repurchases under the program may be effected through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital.We repurchased 31.8 million shares of our Class A common stock at an average price of $12.30 per share during fiscal year 2025 and 5.8 million shares of our Class A common stock at an average price of $17.57 per share during fiscal year 2024 (inclusive of brokerage commission). For fiscal year 2025, we accrued $1.4 million of related excise tax pursuant to the Inflation Reduction Act of 2022, which is included in the cost of treasury stock on our condensed consolidated balance sheet as of January 31, 2025.Subsequent to January 31, 2025, between February 1, 2025 and March 20, 2025, we repurchased an additional 2.3 million shares of our Class A common stock at an average price of $11.76 per share.Charitable Donations of Class A Common StockWe