Our board of directors has authorized a share repurchase program of our Class A common stock, which commenced in January 2017 and does not have an expiration date. We did not repurchase any shares of Class A common stock during the six months ended June 30, 2026. As of both December 31, 2025 and June 30, 2026, $25.03 billion remained available and authorized for repurchases under this program.

We paid quarterly dividends and dividend equivalents of $0.525 per share of common stock, totaling $1.17 billion and $1.14 billion for Class A common stock, respectively, and $180 million for Class B common stock, during the three months ended June 30, 2026 and 2025; and $2.34 billion and $2.29 billion for Class A common stock, respectively, and $360 million for Class B common stock, during the six months ended June 30, 2026 and 2025.

Effective January 1, 2026, pursuant to the automatic increase provision under our 2025 Equity Incentive Plan (2025 Plan), our board of directors approved an increase of 55 million shares of Class A common stock reserved for issuance. As of June 30, 2026, there were 436 million shares of our Class A common stock reserved for future issuance under our 2025 Plan.

The following table summarizes our share-based compensation expense, which consists of the restricted stock unit (RSU) expense, by line item in our condensed consolidated statements of income (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	339	$	278	$	612	$	549
Research and development	6,760		4,080		12,092		7,507
Marketing and sales	245		234		455		470
General and administrative	257		242		467		455
Total	$	7,601	$	4,834	$	13,626	$	8,981


	Number of Shares	Weighted-Average Grant Date Fair Value Per Share
	(in thousands)
Unvested at December 31, 2025	115,552	$	500.68
Granted	78,904	$	598.76
Vested	(31,798)	$	407.66
Forfeited	(16,194)	$	533.48
Unvested at June 30, 2026	146,464	$	570.09

The fair value as of the respective vesting dates of RSUs that vested during the three months ended June 30, 2026 and 2025 was $9.90 billion and $9.81 billion, respectively, and $20.00 billion and $21.34 billion, during the six months ended June 30, 2026 and 2025, respectively. The income tax benefit recognized related to awards vested during the three months ended June 30, 2026 and 2025 was $2.21 billion and $2.02 billion, respectively, and $4.44 billion and $4.38 billion during the six months ended June 30, 2026 and 2025, respectively.

As of June 30, 2026, unrecognized share-based compensation expense for RSU awards was $79.79 billion, which is expected to be recognized over a weighted-average period of approximately three years based on vesting under the award service conditions.

In the six months ended June 30, 2026, we issued nonstatutory stock options to purchase an aggregate of 20 million shares of our Class A common stock under the 2025 Plan to certain of our executives and employees. These options have a weighted-average exercise price of $2,788 per share and a weighted-average remaining contractual term of approximately five years as of June 30, 2026. Stock options become vested and exercisable at such times and under such service and market conditions as determined by our compensation, nominating & governance committee or its equity subcommittee, as appropriate. As of June 30, 2026, unrecognized share-based compensation expense related to these stock options was $471 million, which is expected to be recognized over a weighted-average period of approximately four years.