Company: IOT
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0001642896-25-000074
Chunk: 97

Company: Samsara Inc.
Filing Date: 2025-09-09
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 as of August 2, 2025 includes 5,657,192 shares added on the first day of fiscal year 2026 pursuant to the annual automatic evergreen increase provision of the 2021 ESPP.The price at which Class A common stock is purchased under the 2021 ESPP is equal to 85% of the lower of the fair market value of a share of the Company’s Class A common stock on the enrollment date or on the exercise date. The enrollment date means the first trading day of each offering period, and the exercise date means the last trading day of each purchase period. Offering periods are generally 12 months long, commencing on the first trading day on or after June 11 and December 11 of each year and terminating on the last trading day on or before June 10 and December 10 of each year. Purchase periods are generally six months long, commencing on the first trading day after one exercise date and ending with the next exercise date.For the six months ended August 2, 2025 and August 3, 2024, 582,745 and 616,193 shares of Class A common stock were purchased under the 2021 ESPP, resulting in net cash proceeds of $18.7 million and $16.1 million, respectively.As of August 2, 2025, unrecognized stock-based compensation expense related to the 2021 ESPP was approximately $7.0 million. The remaining unrecognized stock-based compensation expense is expected to be recognized over a weighted-average period of approximately 0.7 years.

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Employee Stock Purchase Plan Valuation—The Company estimates the fair value of shares to be issued under the 2021 ESPP using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which greatly affect fair value. The weighted-average assumptions used to estimate the fair value of shares to be issued under the 2021 ESPP were as follows:Six Months EndedAugust 2, 2025August 3, 2024Expected volatility51.7% – 57.6%53.2% – 57.4%Expected term (years)0.5 – 1.00.5 – 1.0Risk-free interest rate4.1% – 4.3%5.2% – 5.4%Expected dividend yield—%—%Expected volatility—The expected volatility for the six months ended August 2,