Envestnet, Inc. Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Stock-based compensation expense under the Company's plans was as follows:


	Year Ended December 31,
	2023		2022		2021
	(in thousands)
Stock-based compensation expense	$	71,031	$	79,581	$	67,525
Tax effect on stock-based compensation expense	(18,113)		(20,293)		(17,219)
Net effect on income (loss)	$	52,918	$	59,288	$	50,306

The following assumptions were used to value options granted during the year ended December 31, 2021:


	Year Ended December 31,
		2021
Weighted-average grant date fair value		$	31.23
Expected volatility		42.1		%
Risk-free interest rate		0.4		%
Expected dividend yield		—		%
Expected term (in years)		6.5

The following tables summarize option activity under the Company’s plans:


	Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value
				(Years)	(in thousands)







Outstanding as of December 31, 2022	277,535	$	40.07

Exercised	(72,410)	$	25.07
Forfeited	(2,959)	$	55.28
Outstanding and exercisable as of December 31, 2023	202,166	$	45.22	1.6	$	1,330


	Year Ended December 31,
	2023		2022		2021
	(in thousands)
Intrinsic value of options exercised	$	2,243	$	2,650	$	3,815
Cash received from exercises of stock options	$	1,608	$	2,620	$	2,090

The following is a summary of the activity for non-vested restricted stock units granted under the Company’s plans:


	RSUs			PSUs
	Number of Shares	Weighted-Average Grant Date Fair Value per Share		Number of Shares	Weighted-Average Grant Date Fair Value per Share








Non-vested as of December 31, 2022	1,681,976	$	72.69	259,049	$	74.83
Granted	1,106,853	$	61.01	40,010	$	69.47
Vested	(1,006,719)	$	72.75	(24,939)	$	107.10
Forfeited	(332,857)	$	63.75	(51,062)	$	63.21
Non-vested as of December 31, 2023	1,449,253	$	65.78	223,058	$	72.92