Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 288

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 288
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Life (years)Aggregate IntrinsicValue (in thousands)Balance as of January 31, 202411,080 $3.49 7.8$216,010 Granted2,738 $0.10 Exercised(4,002)$2.01 Forfeited(1,881)$13.91 Expired— $— Balance as of January 31, 20257,935 $0.60 7.5$108,138 Vested and exercisable as of January 31, 20253,017 $1.39 5.8$38,695 The weighted-average grant date fair value of stock options granted during fiscal years 2025, 2024, and 2023 was $18.00, $16.84 and $12.23 per share, respectively. The intrinsic value of stock options exercised during fiscal years 2025, 2024, and 2023 was $58.5 million, $93.2 million, and $83.6 million, respectively.As of January 31, 2025, unrecognized compensation expense associated with unvested stock options granted and outstanding was $78.9 million, to be recognized over a weighted-average remaining period of 1.8 years.Fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:Year Ended January 31,202520242023Expected term (years)5.75.95.9Expected volatility64.2%65.2%60.6%Risk-free interest rate4.2%3.6%3.5%Expected dividend yield0.0%0.0%0.0%During fiscal year 2023, our compensation committee approved modifications to allow acceleration of the service-based vesting condition of certain employee stock options upon termination. These modifications, which were considered improbable-to-probable (Type 3) modifications under ASC 718, resulted in accelerated vesting of 0.3 million shares of Class A common stock subject to outstanding stock options and incremental compensation expense of $2.8 million during fiscal year 2023.Early Exercised OptionsCertain stock option holders have the right to exercise unvested options, subject to a repurchase right held by us at the original exercise price in the event of voluntary or involuntary termination of employment of the option holders,