v3.25.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of The Activity of Restricted Stock And RSUs Granted By The Company

Following is the activity of restricted stock and RSUs granted by the Company:

 

Shares

 

 

Weighted-Average
Grant Date Fair
Value

 

Non-vested as of January 1, 2025

 

 

32,029,604

 

 

$

11.26

 

Granted (1)

 

 

2,049,818

 

 

 

18.13

 

Vested (2)

 

 

(5,092,246

)

 

 

10.42

 

Forfeited (3)

 

 

(455,621

)

 

 

11.26

 

Non-vested as of March 31, 2025 (4)

 

 

28,531,555

 

 

$

11.91

 

 

(1)
During the three months ended March 31, 2025, the Company granted 30,388 shares of restricted stock and 2,019,430 RSUs to its employees, advisors and non-employee directors.
(2)
During the three months ended March 31, 2025, 4,991,733 shares of restricted stock and 100,513 RSUs were vested.
(3)
During the three months ended March 31, 2025, 247,629 shares of restricted stock and 207,992 RSUs were forfeited.
(4)
Includes 15,593,980 unvested shares of Class A restricted stock, 5,501,488 unvested shares of Class B restricted stock and 7,436,087 unvested RSUs, each as of March 31, 2025.
Summary of Transaction under the Plans and the 2021 Plan

Following is the summary of transactions under the Plans and the 2021 Plan:

 

 

Number of
options

 

 

Weighted-
average
exercise
price

 

 

Weighted-
average
remaining
contractual
life (years)

 

 

Aggregate
intrinsic
value (per share)

 

Outstanding options as of January 1, 2025

 

 

3,814,015

 

 

$

9.70

 

 

 

8.35

 

 

$

8.45

 

Granted

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

 

(15,368

)

 

 

8.01

 

 

 

—

 

 

 

—

 

Forfeited

 

 

(62,873

)

 

 

10.12

 

 

 

—

 

 

 

—

 

Outstanding options as of March 31, 2025

 

 

3,735,774

 

 

$

9.70

 

 

 

8.08

 

 

$

3.88

 
Summary of Performance Stock Unit Award Activity

Following is the summary of PSUs subject to market conditions under the Company’s 2021 Plan:

 

Number of
PSUs

 

 

Weighted Average
Grant Date Fair
Value

 

Outstanding PSUs as of January 1, 2025

 

 

9,913,174

 

 

$

16.27

 

Granted

 

 

—

 

 

 

—

 

Performance Adjustment

 

 

2,694,032

 

 

 

17.83

 

Vested and Issued

 

 

(312,724

)

 

 

17.83

 

Forfeited

 

 

—

 

 

 

—

 

Outstanding PSUs as of March 31, 2025

 

 

12,294,482

 

 

$

16.57

 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

 

 

As of March 31, 2025

Dividend yield

 

0.0%

Risk free interest rate

 

4.42%

Volatility

 

121.22%