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Stock-Based Compensation (Tables)

6 Months Ended

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 stock 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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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.

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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.

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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.

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