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

Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

For the Fiscal Year
Ended January 31,
2022

Risk-free interest rate

Expected volatility

Expected dividend yield

Expected term (in years)

Stockholders' Equity (Tables)

12 Months Ended

Jan. 31, 2023

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option pricing model to determine the fair value of stock options granted for the fiscal year ended January 31, 2022. There were no stock options granted in the fiscal year ended January 31, 2023.

The weighted average grant-date fair values of stock options granted during the year ended January 31, 2022 was $0.64 per share.

Stock Option Activity

The following table summarizes the Company’s stock option activity:


						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
	Number of			Exercise		Contractual		Intrinsic
	Shares			Price		Term		Value
Outstanding as of January 31, 2022		1,263,340		$	1.40		8.67	$	—
Granted		-			-
Exercised		-			-
Forfeited		(538,756	)		1.67
Outstanding as of January 31, 2023		724,584		$	1.21		8.05	$	—
Vested and expected to vest as of January 31, 2023		703,751		$	1.20		8.04	$	—
Options exercisable as of January 31, 2023		397,083		$	1.27		7.84	$	—

Summary of Stock Unit Activity

The following table summarizes the Company’s RSU and DSU activity:


				Weighted Average
				Grant-Date
	Number of Shares			Fair Value
Unvested balance as of January 31, 2022		1,412,691		$	1.20
Granted		1,819,405			0.51
Vested		(951,274	)		1.24
Forfeited		(60,000	)		0.43
Unvested balance as of January 31, 2023		2,220,822		$	0.64

The following table summarizes the Company’s PSU activity:


				Weighted Average
				Grant-Date
	Number of Shares			Fair Value
Unvested balance as of January 31, 2022		317,857		$	1.10
Granted		740,000			0.21
Vested		(87,500	)		1.08
Forfeited		(115,357	)		0.68
Unvested balance as of January 31, 2023		855,000		$	0.39

Summary of Stock Based Compensation Expense Recognized

The Company recognized stock-based compensation expense within the consolidated statements of operations and comprehensive loss as follows:


	For the Fiscal Years Ended January 31,
	2023		2022
	(Amounts in thousands)
Cost of revenue	$	42	$	35
Research and development		34		(77	)
Sales and marketing		157		114
General and administrative		768		1,618
	$	1,001	$	1,690