v3.24.3
Stock-Based Compensation
 9 Months Ended
Aug. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Equity Incentive Plans
The Company’s 2020 Equity Incentive Plan (the 2020 Plan) serves as the successor to the Company’s 2012 Equity Incentive Plan (together with the 2020 Plan, the Stock Plans) and provides for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock units (RSUs), performance awards and stock bonus awards to employees, directors, consultants, independent contractors and advisors of the Company.
Option activity under the Stock Plans is set forth below:
Number of
options
outstanding		Weighted-
average
exercise
price
Balances as of November 30, 20238,340,968$17.17 
Options granted2,597,64110.55 
Options exercised(380,761)9.47 
Options forfeited(703,115)20.42 
Balances as of August 31, 20249,854,733$15.49 
RSU activity under the Stock Plans is set forth below:
Number of RSUs Weighted-average grant date fair value
Balances as of November 30, 20231,246,031$12.58 
RSUs granted1,553,30510.02 
RSUs vested(452,804)12.33 
RSUs forfeited(264,628)11.60 
Balances as of August 31, 20242,081,904$10.85 
Employee Stock Purchase Plan
Under the Company’s 2020 Employee Stock Purchase Plan (the ESPP), eligible employees are entitled to purchase shares of common stock with accumulated payroll deductions. During the nine months ended August 31, 2024, the Company issued 276,478 shares of common stock pursuant to the ESPP at a weighted-average price of $7.71 per share.
Stock-Based Compensation
Stock-based compensation expense related to the Stock Plans and the ESPP that is included in the Company’s condensed consolidated statements of operations is as follows (in thousands):
Three Months Ended,
August 31,		Nine Months Ended
August 31,
2024202320242023
Research and development$4,631 $4,552 $12,743 $14,565 
General and administrative4,123 3,893 12,678 11,084 
Total stock-based compensation$8,754 $8,445 $25,421 $25,649 
As of August 31, 2024, the total compensation cost related to stock-based awards not yet recognized was $55.8 million, which is expected to be amortized on a straight-line basis over the weighted-average remaining vesting period of approximately 2.2 years.