Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

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 March 31,
	2025		2024
Cost of revenue
Subscription and support	$	2,433	$	1,601
Professional services	996		727
Operating expenses
Research and development	6,050		4,641
Sales and marketing	9,751		8,038
General and administrative	8,658		8,000
Total	$	27,888	$	23,007

Schedule of Stock-Option Activity

The following table summarizes the option activity under the Plan for the three months ended March 31, 2025:


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

Outstanding at December 31, 2024	892,396	$	14.09	1.7



Exercised	(44,245)	14.26
Outstanding at March 31, 2025	848,151	$	14.09	1.5

Exercisable at March 31, 2025	848,151	$	14.09	1.5

Schedule of Restricted Stock Units and Performance Restricted Stock Units Activity

The following table summarizes the restricted stock unit and performance restricted stock unit activity under the Plan for the three months ended March 31, 2025:


	Number of Shares	Weighted- Average Grant Date Fair Value

Unvested at December 31, 2024	2,723,666	$	91.56
Granted	1,186,555	97.61
Forfeited	(73,108)	88.50
Vested(1)	(692,200)	98.93
Unvested at March 31, 2025	3,144,913	$	92.26

(1) During the three months ended March 31, 2025, in accordance with our Nonqualified Deferred Compensation Plan, no recipients elected to defer settlement of their vested restricted stock units and 5,216 shares were released from deferral.

WORKIVA INC 10-Q