Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [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 condensed consolidated statements of operations as follows:

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Cost of sales

 

$

334

 

 

$

35

 

General and administrative

 

 

1,797

 

 

 

426

 

Sales and marketing

 

 

(5,428

)

 

 

23,412

 

Research and development

 

 

1,459

 

 

 

306

 

Total

 

$

(1,838

)

 

$

24,179

 

 

See Restricted Stock Sold Through Issuance of Promissory Note below for more information regarding the fair value of liability classified awards which reduced total stock-based compensation expense for sales and marketing by approximately $6.2 million.

Summarizes Stock Option Activity

The following table summarizes stock option activity under the 2021 Plan for the three months ended March 31, 2022:

 

 

 

Options

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term (years)

 

Outstanding at December 31, 2021

 

 

29,435,319

 

 

$

1.40

 

 

 

7.8

 

Granted

 

 

609,300

 

 

 

3.45

 

 

 

 

Exercised

 

 

(1,130,457

)

 

 

0.54

 

 

 

 

Cancelled

 

 

(4,184

)

 

 

1.14

 

 

 

 

Forfeited

 

 

(532,078

)

 

 

3.22

 

 

 

 

Outstanding at March 31, 2022

 

 

28,377,900

 

 

$

1.45

 

 

 

7.2

 

Exercisable at March 31, 2022

 

 

15,497,517

 

 

$

0.78

 

 

 

6.5

 

Vested or expected to vest at March 31, 2022

 

 

28,377,900

 

 

$

1.45

 

 

 

7.2

 

Summary of Share-based Payment Arrangement, Restricted Stock Unit, Activity

The following table summarizes the restricted stock unit activity under the equity incentive plan:

 

 

 

Unvested RSUs

 

 

Weighted-Average Grant Date Fair Value Per Share

 

Balance as of December 31, 2021

 

 

4,924,243

 

 

$

6.30

 

Granted

 

 

2,313,400

 

 

$

3.38

 

Vested

 

 

(168,190

)

 

$

7.61

 

Forfeited

 

 

(162,969

)

 

$

6.83

 

Outstanding at March 31, 2022

 

 

6,906,484

 

 

$

5.28

 

Vested or expected to vest at March 31, 2022

 

 

6,906,484

 

 

$

5.28