We grant stock-based incentive awards to attract, motivate and retain qualified employees, non-employee directors and consultants, and to align their financial interests with those of our stockholders. We utilize stock-based compensation in the form of restricted stock units, performance restricted stock units, options to purchase Class A common stock and Employee Stock Purchase Plan ("ESPP") purchase rights. In December 2014, our Board of Directors adopted and the Company’s stockholders approved the 2014 Equity Incentive Plan ("the Plan"). On May 28, 2026, stockholders approved an amendment to the Plan that increased the number of shares available for grant by 3,900,000. As of June 30, 2026, 5,857,132 shares of Class A common stock were available for grant under the Plan.

Stock-based compensation expense was recorded in the following cost and expense categories consistent with the respective employee or service provider’s related cash compensation (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Cost of revenue
Subscription and support	$	3,087	$	2,511	$	5,935	$	4,944
Professional services	1,241		1,106		2,430		2,102
Operating expenses
Research and development	6,559		6,556		12,960		12,606
Sales and marketing	10,108		9,890		19,955		19,641
General and administrative	8,756		8,404		17,078		17,062
Total	$	29,751	$	28,467	$	58,358	$	56,355


	Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)

Outstanding at December 31, 2025	463,369	$	13.72	1.1



Exercised	(68,309)	15.38
Outstanding at June 30, 2026	395,060	$	13.43	0.7

Exercisable at June 30, 2026	395,060	$	13.43	0.7

The following table summarizes the restricted stock unit and performance restricted stock unit activity under the Plan for the six months ended June 30, 2026:


	Number of Shares	Weighted- Average Grant Date Fair Value

Unvested at December 31, 2025	2,856,553	$	90.25
Granted	2,002,046	72.12
Forfeited	(190,882)	84.46
Vested(1)	(854,881)	93.98
Unvested at June 30, 2026	3,812,836	$	80.18

(1) During the six months ended June 30, 2026, in accordance with our Nonqualified Deferred Compensation Plan, recipients of 3,218 shares elected to defer settlement of their vested restricted stock units and 123,003 shares were released from deferral

During the six months ended June 30, 2026, 140,328 shares of common stock were purchased under the ESPP at a weighted-average price of $57.38 per share, resulting in cash proceeds of $8.1 million.