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

Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

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 below (in thousands):


	Three months ended March 31,
	2023		2022
Cost of revenue	$	1,005	$	517
Research and development	2,010		1,400
Sales and marketing	3,940		2,258
General and administrative	3,228		2,285
Total stock-based compensation	$	10,183	$	6,460

Summary of Unvested RSU Activity

A summary of the Company’s unvested RSUs and activity for the three months ended March 31, 2023 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2022	6,100,343	$	20.16
Granted	393,537	20.15
Released	(485,737)	16.07
Canceled	(88,174)	20.61
Outstanding at March 31, 2023	5,919,969	20.48

Summary of Plan Activity

A summary of the Company’s stock option activity and related information for the three months ended March 31, 2023 is as follows:


	Number of Awards Outstanding	Weighted- Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2022	10,194,694	$	5.81	6.2	$	173,953
Options granted	—	—
Options exercised	(644,012)	3.80
Options forfeited	(45,253)	11.60
Balance at March 31, 2023	9,505,429	5.92		6.0	141,618
As of March 31, 2023:

Vested and exercisable	7,630,838	4.75		5.6	121,683