SHARE-BASED AWARDS (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| SHARE-BASED AWARDS |
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| Summary of the stock option activity |
A summary of the stock option activity for the year ended December 31, 2020, is as follows:
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Weighted-
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Weighted-
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Average
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Aggregate
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Number of
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Average
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Remaining
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Intrinsic
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Options
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Exercise
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Contractual
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Value
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(in thousands)
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Price
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Term (in years)
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(in thousands)
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Balance – December 31, 2019
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22,633
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$
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3.00
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6.9
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$
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110,481
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Retroactive conversion of shares due to Business Combination
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13,976
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(1.15)
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Balance – December 31, 2019, as converted
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36,609
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$
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1.85
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6.9
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$
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110,481
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Granted
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—
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Exercised
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(5,649)
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1.33
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Forfeited
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(5,513)
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2.04
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Expired
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(1,289)
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2.22
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Balance – December 31, 2020
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24,158
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1.91
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5.4
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$
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502,767
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Exercisable – December 31, 2020
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18,961
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1.55
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4.6
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$
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401,436
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| Summary of the RSU activity |
A summary of the RSU activity for the year ended December 31, 2020, is as follows:
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Weighted-
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Number of
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Average
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RSUs
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Grant-Date
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(in thousands)
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Fair Value
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Unvested and outstanding – December 31, 2019
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14,070
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6.79
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Retroactive conversion of shares due to Business Combination
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8,689
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(2.59)
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Unvested and outstanding – December 31, 2019, as converted
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22,759
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$
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4.20
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Granted
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29,189
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15.67
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Forfeited
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(5,423)
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4.33
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Unvested and outstanding – December 31, 2020
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46,525
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10.88
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Vested and outstanding – December 31, 2020
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—
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—
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| Summary of the Restricted Shares activity |
A summary of the Restricted Shares activity for the year ended December 31, 2020 is as follows:
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Number of
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Average
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Restricted Shares
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Grant-Date
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(In thousands)
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Fair Value
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Unvested – December 31, 2019
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2,156
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$
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5.98
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Retroactive conversion of shares due to Business Combination
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1,331
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$
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(2.28)
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Unvested – December 31, 2019, as converted
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3,487
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$
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3.70
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Granted
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—
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—
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Vested
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(1,339)
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3.63
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Unvested – December 31, 2020
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2,148
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$
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3.74
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Vested and outstanding – December 31, 2020
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—
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—
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| Summary of stock-based compensation expense in the statements of operations |
Stock-based compensation expense is allocated based on the cost center to which the award holder belongs. The following table summarizes total stock-based compensation expense by function as presented in the statements of operations for the years ended December 31, 2020, 2019 and 2018, as follows (in thousands):
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2020
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2019
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2018
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General and administrative
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$
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33,020
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$
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6,456
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$
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8,424
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Sales, marketing and operations
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1,203
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1,767
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1,905
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Technology and development
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3,782
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4,973
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4,645
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Total stock-based compensation expense
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$
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38,005
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$
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13,196
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$
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14,974
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| Summary of assumptions used in the Black-Scholes Model for employee and non-employee stock options |
The range of assumptions used in the Black-Scholes Model for employee and non-employee stock options for 2019, and 2018 are as follows:
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2019 Range
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2018 Range
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Fair value
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$4.22 – $4.29
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$1.42 – $3.02
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Volatility
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32% – 45
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%
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32% – 34
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%
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Risk-free rate
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1.63% – 2.34
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%
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2.68% – 3.17
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%
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Expected life (in years)
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5 – 7
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5 – 7
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Expected dividend
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$
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—
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$
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—
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