Equity |
6 Months Ended |
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Jul. 31, 2026 | |
| Equity [Abstract] | |
| Equity | Equity Tender Offer On February 10, 2026, the Company announced the commencement of an issuer self-tender offer (the "Tender Offer") to purchase for cash up to $180.0 million in value of shares of common stock of the Company at price of not less than $5.75 nor greater than $6.50 per share, to the seller in cash, less any applicable withholdings and without interest. The Tender Offer was originally scheduled to expire on March 12, 2026. On March 4, 2026, the Company decreased the maximum aggregate purchase price of shares to be repurchased in the Tender Offer to $140.0 million and extended the expiration date to March 18, 2026. On March 23, 2026, the Company completed the Tender Offer and repurchased 24,347,825 shares at a price of $5.75 per share for a total amount of $140.0 million, excluding excise tax, direct fees and expenses related to the Tender Offer. Share Repurchase Program In March 2022, the Company's Board of Directors authorized a $100.0 million share repurchase program of the Company's common stock which was increased by an additional $50.0 million in September 2023, $50.0 million in March 2025, and $100.0 million in May 2026. During the three and six months ended July 31, 2026, 1,817,696 shares were repurchased and as of July 31, 2026, approximately $106.2 million remains available for future purchases, exclusive of commissions paid on the repurchase of shares. As part of the share repurchase program, shares may be purchased in open market transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The timing, manner, price and amount of any repurchases will be determined at the Company’s discretion, and the share repurchase program may be suspended, terminated or modified at any time for any reason. The repurchase program does not obligate the Company to acquire any specific number of shares, and all open market repurchases will be made in accordance with Exchange Act Rule 10b-18, which sets certain restrictions on the method, timing, price and volume of open market stock repurchases. 2016 Equity Incentive Plan - Restated The Company's 2016 Equity Incentive Plan (the "Existing Plan"), was amended and restated (the "Restated Plan") upon stockholder approval at the Company's 2026 Annual Meeting of Stockholders in June 2026 (the "Restated Plan Effective Date"). The Restated Plan expires after 10 years from the Restated Effective Date in June 2036. The Existing Plan was scheduled to expire in December 2026. The Restated Plan reset the number of grants that can be issued and provides for an aggregate number of shares of common stock available for issuance of 4,500,000 shares, plus any shares from the Existing Plan that may become available as a result of forfeitures, expirations, or repurchases of awards outstanding under the Existing Plan on or after the Restated Plan Effective Date. The evergreen provision contained in the Existing Plan which provided for annual increases to shares available for issuance was removed. Hearsay Social, Inc. 2019 Equity Incentive Plan In connection with the Restated Plan, the Hearsay Social, Inc. 2019 Equity Incentive Plan (the "Hearsay Plan") was terminated at the Company's 2026 Annual Meeting of Stockholders. Awards outstanding under the Hearsay Plan at the time of termination remain in effect and continue to be governed in accordance with their original terms. Any shares that are forfeited under the Hearsay Plan following its termination will not be available for future grant under any of the Company's equity incentive plans.
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