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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of Stock-based Compensation Expense | The following table summarizes total stock-based compensation expense (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  | 2021 | 2022
Operations and support |  |  |  | $ | 11,412 |  | $ | 11,695 |
Product development |  |  |  | 143,715 |  | 117,876 |
Sales and marketing |  |  |  | 25,901 |  | 21,207 |
General and administrative |  |  |  | 48,457 |  | 44,114 |
Restructuring charges |  |  |  | (11) |  | 31 |
Stock-based compensation expense |  |  |  | $ | 229,474 |  | $ | 194,923 |
Schedule of Fair Value Assumptions of Options Granted | The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option-pricing model using the range of assumptions in the following table:
|  |  | Three Months Ended March 31,
|  |  |  | 2021 | 2022
Expected dividend yield |  |  |  | — |  | — |
Volatility |  |  |  | 44.9% | 48.6%
Expected term (years) |  |  |  | 8.0 | 6.1
Risk-free interest rate |  |  |  | 1.5% | 2.2%
Summary of Option Activity | A summary of option and RSU activity under the Plans was as follows (in thousands, except per share amounts):
|  |  | Outstanding Stock Options |  | Outstanding Restricted Stock Units
| Shares Available for Grant |  | Number of Shares | Weighted- Average Exercise Price |  | Number of Shares | Weighted- Average Grant Date Fair Value
As of December 31, 2021 | 81,365 |  |  | 24,122 |  | $ | 19.69 |  |  | 36,789 |  | $ | 61.22 |
Granted | (6,237) |  |  | 635 |  | 167.00 |  |  | 5,602 |  | 166.92 |
Increase in shares available for grant | 31,676 |  |  | — |  | — |  |  | — |  | — |
Shares withheld for taxes | 1,284 |  |  | — |  | — |  |  | (1,284) |  | 73.39 |
Exercised/Vested | — |  |  | (784) |  | 14.86 |  |  | (2,116) |  | 74.10 |
Canceled | 845 |  |  | (172) |  | 73.91 |  |  | (673) |  | 78.54 |
As of March 31, 2022 | 108,933 |  |  | 23,801 |  | 23.39 |  |  | 38,318 |  | 75.25 |
| Number of Shares | Weighted- Average Exercise Price | Weighted- Average Remaining Contractual Life (years) | Aggregate Intrinsic Value
Options outstanding as of March 31, 2022 | 23,801 |  | $ | 23.39 |  | 3.56 | $ | 3,542,265 |
Options exercisable as of March 31, 2022 | 20,560 |  | 14.13 |  | 2.75 | 3,243,856 |
Summary of RSU Activity | A summary of option and RSU activity under the Plans was as follows (in thousands, except per share amounts):
|  |  | Outstanding Stock Options |  | Outstanding Restricted Stock Units
| Shares Available for Grant |  | Number of Shares | Weighted- Average Exercise Price |  | Number of Shares | Weighted- Average Grant Date Fair Value
As of December 31, 2021 | 81,365 |  |  | 24,122 |  | $ | 19.69 |  |  | 36,789 |  | $ | 61.22 |
Granted | (6,237) |  |  | 635 |  | 167.00 |  |  | 5,602 |  | 166.92 |
Increase in shares available for grant | 31,676 |  |  | — |  | — |  |  | — |  | — |
Shares withheld for taxes | 1,284 |  |  | — |  | — |  |  | (1,284) |  | 73.39 |
Exercised/Vested | — |  |  | (784) |  | 14.86 |  |  | (2,116) |  | 74.10 |
Canceled | 845 |  |  | (172) |  | 73.91 |  |  | (673) |  | 78.54 |
As of March 31, 2022 | 108,933 |  |  | 23,801 |  | 23.39 |  |  | 38,318 |  | 75.25 |
| Number of Shares | Weighted- Average Exercise Price | Weighted- Average Remaining Contractual Life (years) | Aggregate Intrinsic Value
Options outstanding as of March 31, 2022 | 23,801 |  | $ | 23.39 |  | 3.56 | $ | 3,542,265 |
Options exercisable as of March 31, 2022 | 20,560 |  | 14.13 |  | 2.75 | 3,243,856 |
The following table summarizes the activity related to the Company’s restricted stock awards (in thousands, except for per share amounts):
| Number of Shares | Weighted-Average Grant-Date Fair Value Per Share
Unvested restricted stock awards as of December 31, 2021 | 632 |  | $ | 62.32 |
Issued | — |  | — |
Vested | (21) |  | 62.41 |
Unvested restricted stock awards as of March 31, 2022 | 611 |  | 62.32 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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