v3.25.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Option, Activity
The following table summarizes option balances as of December 31, 2024, and changes during the year then ended:

Number of optionsWeighted-average exercise priceWeighted-average remaining contractual term (in years)Aggregate intrinsic value (in thousands) (1)
Outstanding at January 1, 2024
3,525,594 $5.02 6.50$13,250 
Granted417,835 $— 
Exercised(89,627)$0.15 
Forfeited(47,713)$4.92 
Outstanding at December 31, 2024
3,806,089 $4.58 5.78$26,086 
Exercisable at December 31, 2024
3,362,234 $5.19 5.33$22,171 
(1) Intrinsic value is calculated as the difference between the fair value of REE’s Class A ordinary shares as of the end of each reporting period and the exercise price of the option.
Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following table summarizes RSUs activity:
Number of RSUs outstandingWeighted-average ordinary fair value per share at grant date
Outstanding at January 1, 2024822,241 $11.85 
Granted1,825,274 4.27
Vested(890,458)8.20 
Forfeited(174,254)6.70 
Outstanding at December 31, 20241,582,803 $5.73 
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The total equity-based compensation expense recognized in the Company’s consolidated statements of operations are as follows:

Year ended December 31,
202420232022
Cost of revenues$— $— $72 
Research and development4,205 8,397 13,188 
Selling, general and administrative5,380 7,881 13,632 
$9,585 $16,278 $26,892