Document and Entity Information
Document and Entity Information | 12 Months Ended |
Jan. 31, 2022 | |
Cover [Abstract] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Registrant Name | BOX INC |
Entity Central Index Key | 0001372612 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay-Versus-Performance As required by Section 952(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive “compensation actually paid” and certain measures of company performance for each of the last three completed fiscal years. The material that follows is provided in compliance with these rules, however, additional information regarding our compensation philosophy, the structure of our performance-based compensation programs, and compensation decisions made this year is described above in our “Compensation Discussion and Analysis.” In determining the “compensation actually paid” to our named executive officers (or “NEOs”), we are required to make various adjustments to amounts that have been previously reported in the Summary Compensation Table as the SEC’s rules for this disclosure differ from those required in the Summary Compensation Table. For our NEOs other than our principal executive officer (the “PEO”), amounts disclosed are reported as an average. Value of initial fixed $100 Investment based on: Fiscal Year Summary Compensation Table Total for PEO ($) (1) Compensation Actually Paid to PEO ($) (2) Average Summary Compensation Table Total for Non-PEO NEO ($) (3) Average Compensation Actually Paid to Non-PEO NEO ($) (4) Total Shareholder Return ($) (5) Peer Group Total Shareholder Return ($) (6) Net Income ($) (7) Company Selected Measure (Non-GAAP Operating Income) ($) (8) 2023 273,579 (721,895) 5,219,219 7,241,777 213 142 26,783,000 228,978,000 2022 292,514 248,240 4,499,801 7,923,836 174 183 (41,459,000) 173,422,000 2021 288,244 24,643 2,937,347 3,691,476 115 146 (43,433,000) 118,842,000 (1) Our PEO for each year reported is Aaron Levie, our Chief Executive Officer. The dollar amounts reported in this column are the amounts of total compensation reported for Mr. Leive in the “Total” column of the Summary Compensation Table in the applicable fiscal year. (2) Compensation actually paid does not mean that our PEO was actually paid those amounts in the listed year, but this is a dollar amount derived from the starting point of Summary Compensation Table total compensation under the methodology prescribed under the SEC’s rules as shown in the adjustment table below. In accordance with SEC rules, the following adjustments were made to determine the compensation actually paid to our PEO during fiscal years 2023, 2022 and 2021, which consisted solely of adjustments to the PEO’s equity awards: Description of Adjustment 2023 2022 2021 Summary Compensation Table – Total Compensation for PEO ($) 273,579 292,514 288,244 Subtract grant date fair value of equity awards in Summary Compensation Table ($) (43,775) (112,301) (108,027) Add year end fair value of equity awards granted during year that are outstanding and unvested at fiscal year end ($)* — — — Adjust for year over year change in fair value of outstanding and unvested equity awards granted in prior years ($) — (40,000) (208,000) Add fair value as of vesting date of equity awards granted and vested in the year ($) 112,301 108,027 52,426 Adjust for year over year change in fair value of equity awards granted in prior years that vested in the year ($) — — — Subtract fair value at the end of the prior year of equity awards that failed to meet vesting conditions in the year ($) (1,064,000) — — Total Equity Adjustments (subtotal) ($) (995,474) (44,274) (263,601) Compensation Actually Paid ($) (721,895) 248,240 24,643 * The assumptions used for determining the fair values shown in this table are materially consistent with those used to determine the fair values disclosed as of the grant date of such awards. (3) The non-PEO NEOs for 2023, 2022 and 2021 are Stephanie Carullo and Dylan Smith. The dollar amounts reported in this column represent the average of the amounts reported for the non-PEO NEOs in the “Total” column of the Summary Compensation Table in the applicable fiscal year. (4) Compensation actually paid does not mean that that these NEOs were actually paid those amounts in the listed year, but this is a dollar amount derived from the starting point of Summary Compensation Table total compensation under the methodology prescribed under the SEC’s rules as shown in the adjustment table below. Description of Adjustment 2023 2022 2021 Summary Compensation Table – Total Compensation non-PEO NEOs 5,219,219 4,499,801 2,937,347 Subtract grant date fair value of equity awards in Summary Compensation Table ($) (4,706,153) (4,129,172) (2,566,902) Add year end fair value of equity awards granted during year that are outstanding and unvested at fiscal year end ($)* 4,711,703 3,449,983 2,289,426 Adjust for year over year change in fair value of outstanding and unvested equity awards granted in prior years ($) 881,654 2,618,463 139,508 Add fair value as of vesting date of equity awards granted and vested in the year ($) 626,744 968,403 683,250 Adjust for year over year change in fair value of equity awards granted in prior years that vested in the year ($) 841,110 516,358 208,847 Subtract fair value at the end of the prior year of equity awards that failed to meet vesting conditions in the year ($) (332,500) — — Total Equity Adjustments (subtotal) ($) 2,022,558 3,424,035 754,129 Compensation Actually Paid ($) 7,241,777 7,923,836 3,691,476 * The assumptions used for determining the fair values shown in this table are materially consistent with those used to determine the fair values disclosed as of the grant date of such awards. (5) Total shareholder return is calculated by assuming that a $100 investment was made on the day prior to the first fiscal year reported below and reinvesting all dividends until the last day of each reported fiscal year. (6) The peer group used is the NASDAQ Computer Index, as used in the company's performance graph in our Annual Report on Form 10-K. Total shareholder return is calculated by assuming that a $100 investment was made on the day prior to the first fiscal year reported below and reinvesting all dividends until the last day of each reported fiscal year. (7) The dollar amounts reported represent the amount of net income reflected in our audited financial statements for the applicable year. (8) In the company’s assessment, non-GAAP operating income is the financial performance measure that is the most important financial measure used by the company in fiscal 2023 to link compensation actually paid to performance. The dollar amounts reported reflect the amount of non-GAAP operating income for the applicable year. | ||
Company Selected Measure Name | non-GAAP operating income | ||
Named Executive Officers, Footnote [Text Block] | (3) The non-PEO NEOs for 2023, 2022 and 2021 are Stephanie Carullo and Dylan Smith. The dollar amounts reported in this column represent the average of the amounts reported for the non-PEO NEOs in the “Total” column of the Summary Compensation Table in the applicable fiscal year. | ||
Peer Group Issuers, Footnote [Text Block] | (6) The peer group used is the NASDAQ Computer Index, as used in the company's performance graph in our Annual Report on Form 10-K. Total shareholder return is calculated by assuming that a $100 investment was made on the day prior to the first fiscal year reported below and reinvesting all dividends until the last day of each reported fiscal year. | ||
PEO Total Compensation Amount | $ 273,579 | $ 292,514 | $ 288,244 |
PEO Actually Paid Compensation Amount | $ (721,895) | 248,240 | 24,643 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) Compensation actually paid does not mean that our PEO was actually paid those amounts in the listed year, but this is a dollar amount derived from the starting point of Summary Compensation Table total compensation under the methodology prescribed under the SEC’s rules as shown in the adjustment table below. In accordance with SEC rules, the following adjustments were made to determine the compensation actually paid to our PEO during fiscal years 2023, 2022 and 2021, which consisted solely of adjustments to the PEO’s equity awards: Description of Adjustment 2023 2022 2021 Summary Compensation Table – Total Compensation for PEO ($) 273,579 292,514 288,244 Subtract grant date fair value of equity awards in Summary Compensation Table ($) (43,775) (112,301) (108,027) Add year end fair value of equity awards granted during year that are outstanding and unvested at fiscal year end ($)* — — — Adjust for year over year change in fair value of outstanding and unvested equity awards granted in prior years ($) — (40,000) (208,000) Add fair value as of vesting date of equity awards granted and vested in the year ($) 112,301 108,027 52,426 Adjust for year over year change in fair value of equity awards granted in prior years that vested in the year ($) — — — Subtract fair value at the end of the prior year of equity awards that failed to meet vesting conditions in the year ($) (1,064,000) — — Total Equity Adjustments (subtotal) ($) (995,474) (44,274) (263,601) Compensation Actually Paid ($) (721,895) 248,240 24,643 * The assumptions used for determining the fair values shown in this table are materially consistent with those used to determine the fair values disclosed as of the grant date of such awards. | ||
Non-PEO NEO Average Total Compensation Amount | $ 5,219,219 | 4,499,801 | 2,937,347 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 7,241,777 | 7,923,836 | 3,691,476 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (4) Compensation actually paid does not mean that that these NEOs were actually paid those amounts in the listed year, but this is a dollar amount derived from the starting point of Summary Compensation Table total compensation under the methodology prescribed under the SEC’s rules as shown in the adjustment table below. Description of Adjustment 2023 2022 2021 Summary Compensation Table – Total Compensation non-PEO NEOs 5,219,219 4,499,801 2,937,347 Subtract grant date fair value of equity awards in Summary Compensation Table ($) (4,706,153) (4,129,172) (2,566,902) Add year end fair value of equity awards granted during year that are outstanding and unvested at fiscal year end ($)* 4,711,703 3,449,983 2,289,426 Adjust for year over year change in fair value of outstanding and unvested equity awards granted in prior years ($) 881,654 2,618,463 139,508 Add fair value as of vesting date of equity awards granted and vested in the year ($) 626,744 968,403 683,250 Adjust for year over year change in fair value of equity awards granted in prior years that vested in the year ($) 841,110 516,358 208,847 Subtract fair value at the end of the prior year of equity awards that failed to meet vesting conditions in the year ($) (332,500) — — Total Equity Adjustments (subtotal) ($) 2,022,558 3,424,035 754,129 Compensation Actually Paid ($) 7,241,777 7,923,836 3,691,476 * The assumptions used for determining the fair values shown in this table are materially consistent with those used to determine the fair values disclosed as of the grant date of such awards. | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Compensation Actually Paid and Total Shareholder Return Our Compensation Committee makes executive compensation decisions independent of SEC disclosure requirements. For a discussion of our decision-making process, please see the “Compensation Discussion and Analysis” section above. The following graph reflects the relationship between the PEO and average non-PEO NEO “compensation actually paid” (“CAP”), our cumulative Total Shareholder Return (“TSR”) and the TSR of the NASDAQ Computer Index (“Peer TSR”), assuming an initial fixed investment on January 31, 2020 of $100, for the fiscal years ended January 31, 2023, 2022 and 2021. | ||
Compensation Actually Paid vs. Net Income [Text Block] | Compensation Actually Paid and Net Income The following graph reflects the relationship between the PEO and average non-PEO NEO CAP, and our net income (loss) for the fiscal years ended January 31, 2023, 2022 and 2021. While we are required by SEC rules to disclose the relationship between our net income and “compensation actually paid” to our NEOs, this is not a metric our Compensation Committee currently uses in evaluating our NEOs’ compensation. | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Compensation Actually Paid and Non-GAAP Operating Income The following graph reflects the relationship between the PEO and average non-PEO NEO CAP, and our non-GAAP operating income for the fiscal years ended January 31, 2023, 2022 and 2021. | ||
Total Shareholder Return Vs Peer Group [Text Block] | Compensation Actually Paid and Total Shareholder Return Our Compensation Committee makes executive compensation decisions independent of SEC disclosure requirements. For a discussion of our decision-making process, please see the “Compensation Discussion and Analysis” section above. The following graph reflects the relationship between the PEO and average non-PEO NEO “compensation actually paid” (“CAP”), our cumulative Total Shareholder Return (“TSR”) and the TSR of the NASDAQ Computer Index (“Peer TSR”), assuming an initial fixed investment on January 31, 2020 of $100, for the fiscal years ended January 31, 2023, 2022 and 2021. | ||
Tabular List [Table Text Block] | Tabular List of Performance Measures Every year our Board of Directors sets a list of corporate goals as part of our annual business plan. These goals are used to evaluate our performance and the performance of our executive officers. These goals are used in our executive compensation programs, in particular in our annual executive bonus program. The list below includes the three financial performance measures that in our assessment represent the most important financial performance measures used in fiscal year 2023 to link compensation actually paid to company performance. • Non-GAAP operating income • Non-GAAP net income per share attributable to common stockholders • Revenue | ||
Total Shareholder Return Amount | $ 213 | 174 | 115 |
Peer Group Total Shareholder Return Amount | 142 | 183 | 146 |
Net Income (Loss) | $ 26,783,000 | $ (41,459,000) | $ (43,433,000) |
Company Selected Measure Amount | 228,978,000 | 173,422,000 | 118,842,000 |
PEO Name | Aaron Levie | Aaron Levie | Aaron Levie |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Non-GAAP operating income | ||
Non-GAAP Measure Description [Text Block] | (8) In the company’s assessment, non-GAAP operating income is the financial performance measure that is the most important financial measure used by the company in fiscal 2023 to link compensation actually paid to performance. The dollar amounts reported reflect the amount of non-GAAP operating income for the applicable year. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Non-GAAP net income per share attributable to common stockholders | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Revenue | ||
PEO [Member] | Total Equity Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (995,474) | $ (44,274) | $ (263,601) |
PEO [Member] | Grant Date Fair Value of Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (43,775) | (112,301) | (108,027) |
PEO [Member] | Year End Fair Value of Equity Awards Granted during Year that are Outstanding and Unvested at Fiscal Year End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | (40,000) | (208,000) |
PEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 112,301 | 108,027 | 52,426 |
PEO [Member] | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,064,000) | 0 | 0 |
Non-PEO NEO [Member] | Total Equity Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,022,558 | 3,424,035 | 754,129 |
Non-PEO NEO [Member] | Grant Date Fair Value of Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (4,706,153) | (4,129,172) | (2,566,902) |
Non-PEO NEO [Member] | Year End Fair Value of Equity Awards Granted during Year that are Outstanding and Unvested at Fiscal Year End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,711,703 | 3,449,983 | 2,289,426 |
Non-PEO NEO [Member] | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 881,654 | 2,618,463 | 139,508 |
Non-PEO NEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 626,744 | 968,403 | 683,250 |
Non-PEO NEO [Member] | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 841,110 | 516,358 | 208,847 |
Non-PEO NEO [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (332,500) | $ 0 | $ 0 |