Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock-based Compensation Expense Recognized for all Stock-based Awards

Stock-based compensation expense recognized for all stock-based awards is reported in the Company’s consolidated statements of operations and comprehensive loss as follows:

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Cost of sales

 

$

557

 

 

$

137

 

General and administrative

 

 

19,353

 

 

 

3,245

 

Sales and marketing

 

 

27,278

 

 

 

1,583

 

Research and development

 

 

2,655

 

 

 

1,056

 

Total

 

$

49,843

 

 

$

6,021

 
Summarizes Stock Option Activity

The following table summarizes stock option activity under the 2013 Plan and 2021 Plan since December 31, 2020:

 

 

 

Options

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining
Contractual
Term
(years)

 

Outstanding at December 31, 2020

 

 

35,001,146

 

 

$

0.80

 

 

 

7.8

 

Granted

 

 

2,270,858

 

 

 

7.70

 

 

 

—

 

Exercised

 

 

(6,574,818

)

 

 

0.48

 

 

 

—

 

Cancelled

 

 

(21,090

)

 

 

1.11

 

 

 

—

 

Forfeited

 

 

(1,240,777

)

 

 

0.80

 

 

 

—

 

Outstanding at December 31, 2021

 

 

29,435,319

 

 

$

1.40

 

 

 

7.5

 

Exercisable at December 31, 2021

 

 

15,202,295

 

 

$

0.71

 

 

 

6.5

 

Vested or expected to vest at December 31, 2021

 

 

29,435,319

 

 

$

1.40

 

 

 

7.5

 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

In determining the estimated fair value of the stock option awards, the Company uses the Black-Scholes option pricing model. The fair value of share option awards was estimated with the following assumptions:

 

 

As of December 31,

 

 

2021

 

2020

Expected volatility

 

32% - 34%

 

55.0%

Risk-free interest rate

 

.99% - 1.20%

 

.55% - .68%

Expected term (in years)

 

6.1

 

6.1

Expected dividend rate

 

0%

 

0%
Summary of Share-based Payment Arrangement, RSU, Activity

The following table summarizes the RSU activity under the equity incentive plan:

 

 

 

RSUs

 

 

 

RSU Activity

 

 

Weighted-Average Grant Date Fair Value Per Share

 

Balance as of December 30, 2020

 

 

 

 

 

 

Granted

 

 

5,041,197

 

 

$

6.33

 

Vested

 

 

(37,043

)

 

 

7.61

 

Forfeited

 

 

(79,911

)

 

 

7.61

 

Outstanding at December 31, 2021

 

 

4,924,243

 

 

$

6.30

 

Expected to vest at December 31, 2021

 

 

4,924,243

 

 

$

6.30