Stock option activity for the three months ended April 30, 2024 was as follows:


	Options Outstanding
	Outstanding Stock Options (in millions)	Weighted- Average Exercise Price		Aggregate Intrinsic Value (in millions)
Balance as of January 31, 2024	12	$	185.77








Exercised	(1)	174.62


Balance as of April 30, 2024	11	$	190.70	$	1,222
Vested or expected to vest	11	$	190.10	$	1,192
Exercisable as of April 30, 2024	7	$	175.19	$	874

Restricted stock activity for the three months ended April 30, 2024 was as follows:


	Restricted Stock Outstanding
	Outstanding (in millions)	Weighted-Average Grant Date Fair Value		Aggregate Intrinsic Value (in millions)
Balance as of January 31, 2024	28	$	202.95
Granted - restricted stock units and awards	10	306.39
Granted - performance-based stock units	1	290.64
Canceled	(1)	208.02
Vested and converted to shares	(5)	197.41
Balance as of April 30, 2024	33	$	239.08	$	8,801
Expected to vest	27			$	7,367

The aggregate expected stock-based compensation expense remaining to be recognized as of April 30, 2024 was as follows (in millions):


Fiscal Period:
Remaining nine months of fiscal 2025	$	2,483
Fiscal 2026	2,505
Fiscal 2027	1,670
Fiscal 2028	1,002
Fiscal 2029	106

Total stock-based compensation expense	$	7,766

The aggregate expected stock-based compensation expense remaining to be recognized reflects only outstanding stock awards as of April 30, 2024 and assumes no forfeiture activity and no changes in the expected level of attainment of performance share grants based on the Company’s financial performance relative to certain targets.

In August 2022, the Board of Directors authorized a program to repurchase up to $10.0 billion of the Company’s common stock (the “Share Repurchase Program”). In February 2023, the Board of Directors authorized an additional $10.0 billion in repurchases under the Share Repurchase Program. In February 2024, the Board of Directors authorized an additional $10.0 billion in repurchases under the Share Repurchase Program for an aggregate total authorization of $30.0 billion. The Share Repurchase Program does not have a fixed expiration date and does not obligate the Company to acquire any specific number of shares. Under the Share Repurchase Program, shares of common stock may be repurchased using a variety of methods, including privately negotiated and or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as part of accelerated share repurchases and other methods. The timing, manner, price and amount of any repurchases are determined by the Company in its discretion and depend on a variety of factors, including legal requirements, price and economic and market conditions. The Company accounts for treasury stock under the cost method.

The Company repurchased the following under its Share Repurchase Program (in millions, except average price per share):


	2024					2023
	Shares	Average price per share		Amount		Shares	Average price per share		Amount
Three months ended April 30	7	$	293.00	$	2,168	11	$	188.17	$	2,143

In February 2024, the Company announced a cash dividend of $0.40 per share of the Company’s outstanding common stock to stockholders of record as of the close of business on March 14, 2024, which was paid on April 11, 2024 in the amount of approximately $388 million.