; ForgeRock, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.21.2
Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense
A summary of the Company’s stock-based compensation expense as recognized on the condensed consolidated statements of operations is presented in thousands below:
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Cost of revenue $ 26  $ 35  $ 193  $ 112 
Research and development 564  167  1,058  1,084 
Sales and marketing 1,078  619  2,046  1,539 
General and administrative 1,441  583  3,099  2,215 
Total stock-based compensation $ 3,109  $ 1,404  $ 6,396  $ 4,950 
Summary of Plan Activity
The following table summarizes the activity of the Plan:
Number of
Awards
Outstanding
Weighted-
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term (Years)
Average
Intrinsic
Value (in
thousands)
Balance at December 31, 2020
15,465,671  $ 3.08  6.2 $ 73,155 
Options granted 2,443,785  14.30 
Options exercised (1,900,043) 1.71 
Options forfeited (583,753) 4.40 
Balance at September 30, 2021
15,425,660  4.98  6.64 $ 523,749 
As of September 30, 2021:
Vested and exercisable 9,059,341  $ 2.70  5.2 $ 328,256 
Summary of Valuation Assumptions
The following assumptions were used to estimate the fair value of stock options granted during the three and nine months ended September 30, 2021:
Three Months Ended
September 30, 2021
Nine Months Ended
September 30, 2021
Volatility 50.2  % 50.7  %
Expected term (in years) 6.03 6.04
Risk-free interest rate 0.95  % 0.89  %
Expected dividends % %
Weighted-average grant date fair value $ 11.60 $ 8.85