Company: PHR
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001412408-25-000010
Chunk: 41

Company: Phreesia, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 41
---
 follows:Performancestock unitsOutstanding, February 1, 2022396,216 Granted during the year ended January 31, 2023255,572 Vested— Forfeited and expired(3,555)Outstanding, February 1, 2023648,233 Granted during the year ended January 31, 2024576,680 Vested(67,251)Forfeited(117,443)Outstanding, February 1, 20241,040,219 Granted during the year ended January 31, 2025434,269 Vested(255,269)Forfeited(14,248)Outstanding, January 31, 20251,204,971 During the fiscal year ended January 31, 2025, the PSUs granted in fiscal 2022 vested at a 53.50% payout based upon the relative TSR performance achieved during the performance period, which was approved by the Company’s Board of Directors.As of January 31, 2025, unrecognized compensation cost for the PSUs was $34,528, to be recognized over a weighted average remaining vesting period of 2.4 years, subject to the participants' continued employment with the Company.(f) Employee stock purchase planThe ESPP is a compensatory plan because it provides participants with terms that are more favorable than those offered to other holders of the Company's common stock. Employees purchase shares at the lesser of (1) 85% of the closing stock price on the first day of the offering period or (2) 85% of the closing stock price on the last day of the offering period. The ESPP is structured as a qualified employee stock purchase plan under Section 423 of the U.S. Internal Revenue Code of 1986. The fair value of shares granted under the ESPP during the year ended January 31, 2025 was estimated using a Black-Scholes pricing model with the following assumptions:

102

Year endedJanuary 31, 2025Year endedJanuary 31, 2024Year endedJanuary 31, 2023Risk-free interest rate4.74 %5.30 %3.68 %Expected dividendsnonenonenoneExpected term (in years)0.49 years0.49 years0.47 yearsVolatility52.96 %62.41 %74.78 %During the fiscal years ended January 31, 2025,