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| Stock-Based Compensation | Note 13—Stock-Based Compensation 2024 Equity Incentive Plan During the three and six months ended June 30, 2025, the Company granted restricted stock units (“RSUs”), including financial performance-based restricted stock units (“Financial PBRSUs”) and total shareholder return performance-based restricted stock units (“TSR PBRSUs”), and long-term cash awards (“LTC awards”) under its 2024 Equity Incentive Plan (“2024 Plan”). At June 30, 2025, 19,280,062 shares were authorized under the 2024 Plan and 5,780,552 shares were available for future grant. In the first quarter of 2025, the Company adjusted the mix of long-term compensation for certain employees, granting a LTC award in lieu of a portion of an equity award in an effort to better balance the Company’s goals of retaining employees and aligning their interests with those of the Company’s stockholders, with managing the Company’s stock-based compensation expense and shares available under the Company’s 2024 Plan. The LTC awards are considered deferred cash compensation, and the associated expense is recognized ratably over the three-year requisite service period associated with these awards, and is not included in stock-based compensation expense below. 2024 Inducement Plan During the six months ended June 30, 2025, the Company granted RSUs, including Financial PBRSUs and TSR PBRSUs, under the Etsy, Inc. 2024 Inducement Plan (the “2024 Inducement Plan”). At June 30, 2025, 1,000,000 shares were authorized under the 2024 Inducement Plan and 855,343 shares were available for future grant. Stock-Based Compensation Awards The following table summarizes the activity for the Company’s unvested RSUs under the 2024 Plan and the 2024 Inducement Plan, which includes Financial PBRSUs and TSR PBRSUs, during the six months ended June 30, 2025 (in thousands, except per share amounts):
The total unrecognized compensation expense at June 30, 2025 related to the Company’s unvested RSUs, including the Financial PBRSUs and TSR PBRSUs, was $512.8 million, which will be recognized over an estimated weighted-average amortization period of 2.41 years. Stock-based compensation expense included in the Consolidated Statements of Operations for the periods presented below is as follows (in thousands):
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