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Equity-based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Equity-based Compensation Equity-based Compensation
The Company recognized equity-based compensation expense of $65.5 million, $57.4 million and $49.6 million for the years ended December 31, 2024, 2023 and 2022, respectively.
2020 Incentive Award Plan
The Company’s 2020 Incentive Award Plan, as amended and restated in June 2022 (the “Restated Equity Plan”), provides for the grant of RSUs, PRSUs, stock options, dividend equivalent awards, stock payments, stock appreciation rights, and other stock or cash awards. The number of shares available for issuance is subject to an annual increase on the first day of each year beginning in 2023 and ending in and including 2032, equal to the lesser of (1) 2% of the shares outstanding (on an as-converted basis, taking into account any and all securities convertible into, or exercisable, exchangeable or redeemable for, shares of Class A common stock (including LLC Interests of Shift4 Payments, LLC)) on the last day of the immediately preceding fiscal year and (2) such smaller number of shares as determined by the Board.
As of December 31, 2024, a maximum of 1,786,598 shares of the Company’s Class A common stock were available for issuance under the Restated Equity Plan. The Company expects to make 1,824,550 additional shares of Class A common stock available for issuance under the Restated Equity Plan in the first quarter of 2025.
RSUs and PRSUs
RSUs and PRSUs represent the right to receive shares of the Company’s Class A common stock at a specified date in the future. The following table presents the expected number of shares that are expected to vest in each year as of December 31, 2024, subject to continued service:
2025202620272028Total
Granted in 2021196,695 198,090 — — 394,785 
Granted in 2022190,507 65,225 65,818 — 321,550 
Granted in 2023300,584 229,430 121,896 16,850 668,760 
Granted in 2024315,854 297,924 167,559 2,911 784,248 
Total1,003,640 790,669 355,273 19,761 2,169,343 

The RSU and PRSU activity was as follows:
Number of
RSUs and PRSUs		Weighted Average Grant Date
Fair Value
Unvested balance at December 31, 20212,402,694 $43.28 
Granted1,143,956 45.20 
Vested(825,720)35.51 
Forfeited or cancelled(255,575)54.75 
Unvested balance at December 31, 20222,465,355 47.57 
Granted1,415,102 63.87 
Vested(1,096,241)44.19 
Forfeited or cancelled(439,006)55.22 
Unvested balance at December 31, 20232,345,210 57.35 
Granted1,160,816 67.22 
Vested(1,021,787)58.05 
Forfeited or cancelled(314,896)58.53 
Unvested balance at December 31, 20242,169,343 $62.13 
The grant date fair value of RSUs and PRSUs subject to continued service or those that vest immediately was determined based on the price of the Company’s Class A common stock on the grant date.
As of December 31, 2024, the Company had $89.5 million of total unrecognized equity-based compensation expense related to outstanding RSUs and PRSUs, which is expected to be recognized over a weighted-average period of 2.05 years.