Company: PHR
Filing Date: 2025-12-09
Form Type: 10-Q
Source: 0001412408-25-000132
Chunk: 164

Company: Phreesia, Inc.
Filing Date: 2025-12-09
Form: 10-Q
Item: Part I, Item 8
Chunk 164
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4, the Company reduced stock compensation expense by $331 and $1,130, respectively, for improbable-to-probable modifications of stock compensation awards.(c) Restricted stock unitsThe Company has issued RSUs to employees and independent directors that vest based on a time-based condition. RSUs granted to employees vest over four years based on a variety of vesting schedules, including quarterly, annually, and 10/20/30/40 (10% after one year, 20% after two years, 30% after three years and 40% after four years). RSUs granted during fiscal 2024 generally vest annually, and RSUs granted during fiscal 2025 and 2026 generally vest following a 10/20/30/40 vesting schedule.Additionally, at the beginning of each fiscal year, the Company provides certain employees the option to settle their incentive bonus in immediately vested RSUs. RSUs granted to settle bonus awards are included in RSUs granted and vested in the table below. See section (g) Liability awards below for additional information regarding share-settled bonus awards.Restricted stock unitsUnvested, January 31, 20253,597,948 Granted in nine months ended October 31, 20251,369,541 Vested(1,283,306)Forfeited(308,473)Unvested, October 31, 2025(1)3,375,710 (1) Includes 7,713 awards granted pursuant to the 2023 Inducement Award Plan.As of October 31, 2025, there was $67,951 remaining of total unrecognized compensation cost related to these awards. The total unrecognized costs are expected to be recognized over a weighted-average term of 2.66 years. (d) Stock optionsOptions granted under the equity award plans have a maximum term of ten years and vest over a period determined by the Board of Directors (generally four years from the date of grant or the commencement of the grantee’s employment with the Company). Options generally vest 25% at the one-year anniversary of the grant date, after which point they generally vest pro rata on a monthly basis.

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Stock option activity for the nine months ended October 31, 2025 is as follows:Number ofoptionsWeighted-averageexercise priceWeighted-averageremainingcontractual life(in years)Aggregate IntrinsicvalueOutstanding, January 31, 2025899,381 $7