Company: LPSN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001102993-25-000053
Chunk: 105

Company: LIVEPERSON INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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 expected to be recognized over a weighted average period of approximately 1.2 years.

27

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

Restricted Stock Unit and Performance-Vesting Restricted Stock Unit ActivityThe following table is a summary of the Company’s RSU and PRSU activity and weighted average grant date fair value for the three months ended March 31, 2025:Number of SharesWeighted Average Grant Date Fair ValueAggregate Fair Value(In thousands)(Per share)(In thousands)Balance outstanding at December 31, 202412,522 $2.03 Awarded618 1.25 Vested(2,221)1.76 Forfeited(116)9.81 Non-vested and outstanding at March 31, 202510,803 1.86 8,632 Expected to vest 8,520 $2.00 $6,808 RSUs granted to employees generally vest over a one- to four-year period, or upon achievement of certain performance conditions. As of March 31, 2025, total unrecognized compensation cost, adjusted for estimated forfeitures, related to nonvested RSUs and PRSUs was $13.0 million and the weighted-average remaining vesting period was 1.32 years.PRSUs granted are generally subject to both a service-based vesting condition and a performance-based vesting condition. PRSUs will vest upon the achievement of specified performance targets and subject to continued service through the applicable vesting dates. The associated compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied. There were no PRSUs granted during the three months ended March 31, 2025, and PRSUs granted during the three months ended March 31, 2024 were immaterial.Total stock-based compensation costs included in the condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024 are as follows:Three Months Ended March 31,20252024(In thousands)Cost of revenue $186 $343 Sales and marketing 1,378 2,455 General and administrative 1,773 1,798 Product development 1,372 2,962 Total$4,709 $7,558 

Note 12. Restructuring 

LivePerson maintains restructuring initiatives to realign the Company’s cost structure with its current business model.