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ecd:NonPeoNeoMember 2021-02-01 2022-01-31 0001412408 ecd:FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember ecd:NonPeoNeoMember 2021-02-01 2022-01-31 0001412408 ecd:DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember ecd:NonPeoNeoMember 2021-02-01 2022-01-31 0001412408 1 2025-02-01 2026-01-31 0001412408 2 2025-02-01 2026-01-31 iso4217:USD 0001412408 DEF 14A false PHREESIA, INC. <div style="margin-top:6pt;text-indent:18pt">As discussed above, we have adopted an Equity Award Grant Policy pursuant to which we generally grant equity awards on a regularly scheduled basis to enhance the effectiveness of our internal control over our equity award grant process. In accordance with our Equity Award Grant Policy, we generally grant equity awards to executive officers on a predetermined annual schedule at the end of our fourth fiscal quarter when the compensation committee also determines the other elements of our executive officers' compensation for the upcoming fiscal year. </div>In fiscal 2026, we did not grant awards of stock options, stock appreciation rights, or similar option-like instruments. We do not grant equity awards in anticipation of the release of material non-public information, and we do not time the release of material non-public information based on equity award grant dates or for the purpose of affecting the value of executive compensation. In addition, we do not take material non-public information into account when determining the timing and terms of such awards. As discussed above, we have adopted an Equity Award Grant Policy pursuant to which we generally grant equity awards on a regularly scheduled basis to enhance the effectiveness of our internal control over our equity award grant process. In accordance with our Equity Award Grant Policy, we generally grant equity awards to executive officers on a predetermined annual schedule at the end of our fourth fiscal quarter when the compensation committee also determines the other elements of our executive officers' compensation for the upcoming fiscal year. true We do not grant equity awards in anticipation of the release of material non-public information, and we do not time the release of material non-public information based on equity award grant dates or for the purpose of affecting the value of executive compensation. true false true <div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:4.829%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.041%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.041%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.041%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.079%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.438%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.678%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:top">Value of Initial Fixed $100 Investment Based On:</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fiscal Year</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Summary Compensation Table Total for PEO ($ in thousands)1</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Compensation Actually Paid to PEO ($ in thousands)2</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Average Summary Compensation Table Total for Non-PEO NEOs ($ in thousands)3</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Average Compensation Actually Paid to Non-PEO NEOs ($ in thousands)4</div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Total Shareholder Return5</div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Peer Group Total Shareholder Return6</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Net Income ($ in thousands)7</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Revenue ($ in millions)8</div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(a)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(b)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(c)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(d)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(e)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(f)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(g)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(h)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">(i)</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">2026</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">$8,078</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">$(17,943)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">$3,398</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">$(4,641)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">$20.57</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">$160.68</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">$2,306</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">$480.59</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">2025</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$10,511</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$11,787</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$4,125</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$4,403</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$91.81</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$208.62</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$(58,527)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$419.81</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">2024</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$8,273</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$(240)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$4,252</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$1,010</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$82.19</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$188.24</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$(136,885)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$356.30</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">2023</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$7,604</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$12,514</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$3,664</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$5,243</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$120.94</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$126.57</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$(176,146)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top">$280.91</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">2022</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$8,921</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$(15,020)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$3,701</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$(209)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$100.61</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$150.33</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$(118,161)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:top">$213.23</td></tr></table></div> 8078000 -17943000 3398000 -4641000 20.57 160.68

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280910000 8921000 -15020000 3701000 -209000 100.61 150.33

-118161000

213230000 This column represents the amount of total compensation reported for principal executive officer ("PEO") Mr. Indig (our Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation table. Please refer to the Executive Compensation Tables section of this Proxy Statement.This column represents the average of the amounts reported for the Company’s NEOs as a group (excluding Mr. Indig) in the “Total” column of the Summary Compensation table in each applicable year. Please refer to the Executive Compensation Tables section of the Company’s Proxy Statement for the applicable year. The names of each of the NEOs (excluding Mr. Indig) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for fiscal 2026 and 2025, Messrs. Gandhi, Roberts, Linetsky and Ms. Hoffman; (ii) for fiscal 2024, Randy Rasmussen (our former Chief Financial Officer), Messrs. Gandhi, Roberts, Linetsky and Ms. Hoffman; (iii) for fiscal 2023, Messrs. Rasmussen, Roberts and Linetsky and Michael Davidoff; and (iv) for fiscal 2022, Messrs. Rasmussen, Thomas Altier (our former Chief Financial Officer), Roberts and Linetsky and Ms. Hoffman. Mr. Indig This column represents the amount of “compensation actually paid” to Mr. Indig, as computed in accordance with Item 402(v) of Regulation S-K. The amounts do not reflect the actual amount of compensation earned by or paid to Mr. Indig during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Mr. Indig’s total compensation for each year to determine the “compensation actually paid”.This column represents cumulative Company total TSR. TSR is calculated by dividing the sum of the cumulative amount of dividends for each measurement period (fiscal 2021-2022, fiscal 2022-2023, fiscal 2023-2024, fiscal 2024-2025 and fiscal 2025-2026), assuming dividend reinvestment, and the <div style="padding-left:13.5pt">difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. </div>This column represents the amount of net income reflected in the Company’s audited financial statements for the applicable year.This column represents the amount of revenue reflected in the Company’s audited financial statements for the applicable year.<div>Financial Performance Measures</div><div> </div><div style="text-indent:18pt">As described in greater detail in the Compensation Discussion and Analysis section of this Proxy Statement, the Company’s executive compensation program reflects a pay-for-performance philosophy. The metrics that the Company uses for our bonus plan are selected based on an objective of incentivizing our NEOs to increase the value of our enterprise for our shareholders. The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to the Company’s performance are as follows:</div><div>Analysis of the Information Presented in the Pay versus Performance Table</div><div> </div><div style="text-indent:18pt">As described in greater detail in the Compensation Discussion and Analysis section of this Proxy Statement, the Company’s executive compensation program reflects a pay-for-performance philosophy. While the Company utilizes several performance measures to align executive compensation with Company performance (as described in greater detail in the Compensation Discussion and Analysis section of this Proxy Statement), not all of those Company measures are presented in the Pay versus Performance table. Moreover, the Company generally seeks to incentivize long-term performance, and therefore does not specifically align the Company’s performance measures with compensation that is actually paid (as computed in accordance with Item 402(v) of Regulation S-K) for a particular year. In accordance with Item 402(v) of Regulation S-K, the Company is providing the following descriptions of the relationships between information presented in the Pay versus Performance table.</div> <div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:9.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.263%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.724%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.159%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.596%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fiscal Year</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Reported Summary Compensation Table Total for PEO ($ in thousands)(a)</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Reported Summary Compensation Table Value of PEO Equity Awards ($ in thousands)(b)</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Adjusted Value of Equity</div><div style="text-align:center">Awards ($ in thousands)(c)</div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Compensation Actually Paid to PEO ($ in thousands)</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$8,078</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$7,563</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(18,458)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(17,943)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$10,511</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$9,996</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$11,272</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$11,787</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$8,273</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$7,778</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(735)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(240)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$7,604</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$7,089</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$11,999</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$12,514</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2022</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$8,921</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$8,191</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(15,750)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(15,020)</td></tr></table></div><div> </div><div style="padding-left:36pt;text-indent:-18pt">a.This column represents the amount of total compensation reported for Mr. Indig for each corresponding year in the “Total” column of the Summary Compensation Table. Please refer to the Executive Compensation tables section of this Proxy Statement.</div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt">b.This column represents the grant date fair value of equity awards reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. Please refer to the Executive Compensation tables section of the Company’s Proxy Statement.</div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt">c.This column represents an adjustment to the amounts in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year (a “Subject Year”). For a Subject Year, the adjusted amount replaces the “Stock Awards” and “Option Awards” columns in </div><div style="margin-top:6pt;padding-left:36pt">the Summary Compensation Table for Mr. Indig to arrive at “compensation actually paid” to Mr. Indig for that Subject Year, as computed in accordance with Item 402(v) of Regulation S-K. The adjusted amount is determined by adding (or subtracting, as applicable) the following for that Subject Year from the amounts reported in the Summary Compensation Table: (i) the year-end fair value of all equity awards granted in the Subject Year that are outstanding and unvested as of the end of the Subject Year (from the end of the prior fiscal year) in fair value (whether positive or negative) of any awards granted in any prior fiscal year that are outstanding and unvested as of the end of the covered fiscal year; (ii) the amount of change as of the end of the Subject Year (from the end of the prior fiscal year) in the fair value of all awards granted in prior years that are outstanding and unvested as of the end of the Subject Year; (iii) for awards that are granted and vest in the Subject Year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest at the end or during the Subject Year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in the fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the Subject Year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the Subject Year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the Subject Year. The amounts added or subtracted to determine the adjusted amount are as follows:</div><div> </div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:6.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.201%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.401%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fiscal Year</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Year End Fair Value of Equity Awards Granted in the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards at FYE Granted in Prior Years ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation in the Summary Compensation Table for the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Adjusted Value of Equity Awards ($ in thousands)</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$4,108</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(20,450)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$273</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(622)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(1,766)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(18,458)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$9,922</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$2,063</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$228</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$121</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$(1,062)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$11,272</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$7,189</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(6,297)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$679</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(1,735)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(585)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(735)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$6,637</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$3,691</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$686</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$1,072</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$11,999</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2022</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$7,266</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(15,645)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(7,897)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(15,750)</td></tr></table></div> 8078000 -7563000 -18458000 -17943000 10511000 -9996000 11272000 11787000 8273000 -7778000 -735000 -240000 7604000 -7089000 11999000 12514000 8921000 -8191000 -15750000 -15020000 4108000 -20450000 273000 -622000 -1766000 0 -18458000 9922000 2063000 228000 121000 -1062000 0 11272000 7189000 -6297000 679000 -1735000 -585000 0 -735000 6637000 3691000 686000 1072000 0 0 11999000 7266000 -15645000 0 -7897000 0 0 -15750000 <div style="text-indent:18pt">The fair value or change in fair value, as applicable, of equity awards was determined by reference to (1) for RSU awards, the closing price of our common stock on the applicable measurement date and (2) for market-conditioned PSU awards, a Monte Carlo simulation as of the applicable measurement date. For stock options, the fair value or change in fair value, as applicable, was determined by reference to the closing price of our common stock on the applicable measurement date as the current market price.</div> This column represents the average amount of “compensation actually paid” to the NEOs as a group (excluding Mr. Indig), as computed in accordance with Item 402(v) of Regulation S-K. The dollar <div style="margin-top:6pt;padding-left:13.5pt">amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding Mr. Indig) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding Mr. Indig) for each year to determine the compensation actually paid, using the same adjustment methodology described above in Note 2(c):</div><div> </div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.679%"><tr><td style="width:1.0%"></td><td style="width:6.134%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.890%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.070%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.282%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.124%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fiscal Year</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Average Reported Summary Compensation Table Total for Non-PEO NEOs ($ in thousands)(a)</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Average Reported Summary Compensation Table Value of Non-PEO NEO Equity Awards ($ in thousands)(b)</div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Average Non-PEO NEO Adjusted Value of Equity Awards ($ in thousands)(c)</div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Average Compensation Actually Paid to Non-PEO NEOs ($ in thousands)</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$3,398</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$2,957</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(5,081)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(4,641)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$4,125</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$3,688</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$3,966</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$4,403</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$4,252</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$3,285</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$176</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$1,010</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$3,664</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$3,238</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$4,817</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$5,243</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2022</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$3,701</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$3,281</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(629)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(209)</td></tr></table></div><div> </div><div style="padding-left:36pt;text-indent:-18pt">a.This column represents the average of the amounts reported for the Company’s NEOs as a group (excluding Mr. Indig) in the “Total” column of the Summary Compensation Table in each applicable year. Please refer to the Executive Compensation tables section of the Company’s Proxy Statement for the applicable year.</div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt">b.This column represents the average of the total amounts reported for the NEOs as a group (excluding Mr. Indig) in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table in each applicable year. Please refer to the Executive Compensation tables section of the Company’s Proxy Statement for the applicable year.</div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt">c.This column represents an adjustment to the average of the amounts reported for the NEOs as a group (excluding Mr. Indig) in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table in each applicable year determined using the same methodology described above in Note 2(c). For each year, the adjusted amount replaces the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for each NEO (excluding Mr. Indig) to arrive at “compensation actually paid” to each NEO (excluding Mr. Indig) for that year, which is then averaged to determine the average “compensation actually paid” to the NEOs (excluding Mr. Indig) for that year. The amounts added or subtracted to determine the adjusted average amount are as follows: </div><div> </div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:6.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.803%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.726%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.319%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Fiscal Year</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Average Year End Fair Value of Equity Awards Granted in the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Average Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards at FYE Granted in Prior Years ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Average Fair Value as of Vesting Date of Equity Awards Granted in the Year and Vested in the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Average Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation in the Summary Compensation Table for the Year ($ in thousands)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Adjusted Average Value of Equity Awards ($ in thousands)</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$1,649</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(5,849)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$132</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(353)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(660)</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$(5,081)</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$3,748</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$399</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$111</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$33</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$(325)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$3,966</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2024</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$3,010</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(2,395)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$310</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(620)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(102)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$176</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">2023</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$3,035</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$1,463</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$318</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$29</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">$4,817</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">2022</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$2,683</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(2,980)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(537)</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$—</td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom">$(629)</td></tr></table></div> 3398000 -2957000 -5081000 -4641000 4125000 -3688000 3966000 4403000 4252000 -3285000 176000 1010000 3664000 -3238000 4817000 5243000 3701000 -3281000 -629000 -209000 1649000 -5849000 132000 -353000 -660000 0 -5081000 3748000 399000 111000 33000 -325000 0 3966000 3010000 -2395000 310000 -620000 -102000 0 176000 3035000 1463000 318000 29000 0 0 4817000 2683000 -2980000 0 -537000 0 0 -629000 This column represents cumulative peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated, and otherwise computed in accordance with Note 5. The peer group used for this purpose is the following published industry index: S&P 1500 Composite Software & Services Index. revenue Revenue<div style="padding-left:36pt;text-indent:-18pt">b.Adjusted EBITDA</div> Revenue Adjusted EBITDA <div style="text-align:center"><img alt="Proxy TSR.jpg" id="i-4" src="phr-20260514_g3.jpg" style="height:366px;margin-bottom:5pt;vertical-align:text-bottom;width:624px"/></div> <div style="text-align:center"><img alt="Proxy GAAP Rev.jpg" id="i-5" src="phr-20260514_g4.jpg" style="height:345px;margin-bottom:5pt;vertical-align:text-bottom;width:624px"/></div> <div style="text-align:center"><img alt="Proxy Peer TSR.jpg" id="i-6" src="phr-20260514_g5.jpg" style="height:385px;margin-bottom:5pt;vertical-align:text-bottom;width:624px"/></div> <div style="text-align:center"><img alt="Proxy chart.jpg" id="i-7" src="phr-20260514_g6.jpg" style="height:374px;margin-bottom:5pt;vertical-align:text-bottom;width:624px"/></div>