Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.23.1
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-based Compensation

Share-based compensation, inclusive of amounts capitalized, for the periods presented was as follows:

 

 

 

Years Ended December 31,

 

(in thousands)

 

2022

 

 

2021

 

Restricted stock units

 

$

26,046

 

 

$

225

 

Retention restricted stock units

 

 

24,763

 

 

 

 

Stock options

 

 

273

 

 

 

416

 

PredaSAR options

 

 

 

 

 

37

 

Share-based compensation

 

$

51,082

 

 

$

678

 

Summary of Activity Related to RSUs

The following table summarizes activity related to RSUs during 2022:

 

 

Number of RSUs

 

 

Weighted-
Average
Grant-Date
Fair Value

 

Unvested as of December 31, 2021

 

 

14,802,798

 

 

$

3.02

 

Granted

 

 

12,222,158

 

 

 

3.46

 

Vested

 

 

(5,640,155

)

 

 

3.00

 

Forfeited

 

 

(5,402,107

)

 

 

3.23

 

Unvested as of December 31, 2022

 

 

15,982,694

 

 

$

3.29

 

Summary of Activity Related to Stock Options

The following table summarizes activity related to stock options during 2022:

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

Outstanding as of December 31, 2021

 

 

2,122,834

 

 

$

0.97

 

 

$

12,797

 

 

 

5.39

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(339,279

)

 

 

1.05

 

 

 

 

 

 

 

Forfeited

 

 

(110,513

)

 

 

1.26

 

 

 

 

 

 

 

Outstanding as of December 31, 2022

 

 

1,673,042

 

 

$

0.94

 

 

$

1,079

 

 

 

4.22

 

Exercisable as of December 31, 2022

 

 

1,506,665

 

 

$

0.88

 

 

$

1,050

 

 

 

3.88

 

Summary of Fair Value of Stock Options

The fair value of the stock options immediately prior to cancellation was estimated using the Black-Scholes option pricing model using the following assumptions:

 

 

 

Range

 

 

Low

 

 

High

 

 

Expected term (in years)

 

 

5.50

 

 

 

6.01

 

 

Expected volatility

 

 

105

%

 

 

105

%

 

Expected dividend yield

 

 

0

%

 

 

0

%

 

Risk-free interest rate

 

 

0.95

%

 

 

0.95

%

 

Retention Restricted Stock Units  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Activity Related to RSUs

The following table summarizes activity related to Retention RSUs during 2022:

 

 

Number of RSUs

 

 

Weighted-
Average
Grant-Date
Fair Value

 

Unvested as of December 31, 2021

 

 

 

 

$

 

Granted

 

 

5,718,858

 

 

 

7.98

 

Vested

 

 

 

 

 

 

Forfeited

 

 

(1,583,806

)

 

 

8.20

 

Unvested as of December 31, 2022

 

 

4,135,052

 

 

$

7.89