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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | A summary of stock option activity under the 2012 Plan and the 2021 Plan, including 1.1 million stock options that were granted outside of the 2012 Plan in 2019, is presented below (in millions, except share and per share amounts):
| Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contract Term (in years) |  | Aggregate Intrinsic Value (1)
Balances as of December 31, 2021 | 54,525,539 |  |  | $ | 5.30 |  |  | 7.1 |  | $ | 221.3 |
Granted | 215,027 |  |  | 5.89 |  |  |  |  |
Exercised | (3,532,188) |  |  | 2.14 |  |  |  |  |
Forfeited | (1,315,060) |  |  | 6.96 |  |  |  |  |
Balances as of June 30, 2022 | 49,893,318 |  |  | $ | 5.49 |  |  | 6.6 |  | $ | 25.7 |
Exercisable and vested at June 30, 2022 | 34,382,199 |  |  | $ | 4.49 |  |  | 5.9 |  | $ | 25.7 |
(1)The aggregate intrinsic values have been calculated using the Company’s closing stock prices of $3.61 and $9.09 as of June 30, 2022 and December 31, 2021, respectively.
Summary of Restricted Stock Units Activity | A summary of RSU activity under the 2012 Plan and the 2021 Plan is presented below:
| Number of Awards |  | Weighted Average Grant Date Fair Value
Balances as of December 31, 2021 | 54,517,930 |  |  | $ | 10.29 |
Granted | 31,015,818 |  |  | 7.21 |
Vested and converted to common stock (1) | (18,926,274) |  |  | 8.64 |
Forfeited | (6,869,161) |  |  | 12.49 |
Balances as of June 30, 2022 | 59,738,313 |  |  | $ | 8.96 |
(1)During the six months ended June 30, 2022, the Company net settled all RSUs through which it issued an aggregate of 18.9 million shares of Class A common stock and withheld an aggregate of 1.9 million shares of Class A common st ock to satisfy $13.8 million million of tax withholding obligations on behalf of the Company’s employees.
Summary of Share-based Payment Arrangement, Expensed and Capitalized, Amount | Total stock-based compensation expense included in the condensed consolidated statements of operations for the three and six months ended June 30, 2022 and 2021 is as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Commissions and other related expense | $ | 6.4 |  |  | $ | 11.7 |  |  | $ | 23.4 |  |  | $ | 56.3 |
Sales and marketing | 11.2 |  |  | 8.6 |  |  | 21.9 |  |  | 17.6 |
Operations and support | 4.1 |  |  | 2.8 |  |  | 8.4 |  |  | 7.8 |
Research and development | 18.9 |  |  | 13.5 |  |  | 35.8 |  |  | 63.0 |
General and administrative | 18.6 |  |  | 17.7 |  |  | 33.5 |  |  | 77.1 |
Total stock-based compensation expense | $ | 59.2 |  |  | $ | 54.3 |  |  | $ | 123.0 |  |  | $ | 221.8 |
| IPO Related Expense
Commissions and other related expense | $ | 41.7 |
Sales and marketing | 1.8 |
Operations and support | 3.1 |
Research and development | 46.9 |
General and administrative | 55.0 |
Total stock-based compensation expense | $ | 148.5 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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