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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

During the year ended December 31, 2023, stock option activity is as follows:

 

 

 

Common
Stock

 

 

Weighted-
Average
Exercise Price
for Equity

 

 

Weighted-
Average
Remaining
Contractual Life
(In Years)

 

 

Aggregate
Intrinsic
Value
(1)

 

Outstanding, December 31, 2022

 

 

826,609

 

 

$

25.22

 

 

 

6.2

 

 

$

3,172

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(15,834

)

 

 

4.69

 

 

 

 

 

 

229

 

Forfeited or Expired

 

 

(34,681

)

 

 

35.61

 

 

 

 

 

 

 

Outstanding, December 31, 2023

 

 

776,094

 

 

$

25.17

 

 

 

5.3

 

 

$

5,442

 

Exercisable as of December 31, 2023

 

 

590,401

 

 

$

21.83

 

 

 

4.7

 

 

$

5,442

 

(1)
As of December 31, 2023 and 2022, the aggregate intrinsic value was calculated based on the positive difference, if any, between the estimated fair value of common stock on December 31, 2023 and 2022, respectively, or the date of exercise, as appropriate, and the exercise price of the underlying options.
Summary of Restricted Stock Unit Activity

During the year ended December 31, 2023, RSU activity is as follows:

 

 

 

Number of
Shares

 

 

Weighted-
Average Grant
Date Fair Value

 

 

Aggregate
Intrinsic
Value

 

Unvested outstanding, December 31, 2022

 

 

4,484,291

 

 

$

29.36

 

 

$

62,825

 

Granted

 

 

4,133,865

 

 

 

17.47

 

 

 

 

Vested

 

 

(2,440,510

)

 

 

26.83

 

 

 

 

Forfeited

 

 

(489,935

)

 

 

24.30

 

 

 

 

Unvested outstanding, December 31, 2023

 

 

5,687,711

 

 

$

22.02

 

 

$

137,415

 

Summary of Stock-based Compensation Expense by Award Type

For the year ended December 31, 2023, 2022, and 2021, stock-based compensation expense by award type and where the stock-based compensation expense was recognized in the Company’s consolidated income statements is as follows:

 

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Options

 

$

2,386

 

 

$

2,553

 

 

$

2,471

 

Restricted Stock Units

 

 

55,527

 

 

 

52,224

 

 

 

52,916

 

CO Incentive Units and Subject Units

 

 

26,552

 

 

 

(21,095

)

 

 

22,323

 

Noncontrolling Interest Units

 

 

28,991

 

 

 

 

 

 

 

Total

 

$

113,456

 

 

$

33,682

 

 

$

77,710

 

Summary of Allocation of Stock-based Compensation Expense

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Cost of revenue

 

$

2,370

 

 

$

475

 

 

$

417

 

Sales and marketing expense

 

 

13,710

 

 

 

7,733

 

 

 

12,801

 

Product, technology, and development expense

 

 

25,934

 

 

 

20,266

 

 

 

22,289

 

General and administrative expense

 

 

71,442

 

 

 

5,208

 

 

 

42,203

 

Total

 

$

113,456

 

 

$

33,682

 

 

$

77,710

 

Summary of Shares of Common Stock Reserved for Future Issuance

As of December 31, 2023, the Company had reserved the following shares of Class A common stock for future issuance:

 

Common stock options outstanding

 

 

776,094

 

Unvested restricted stock units outstanding

 

 

5,687,711

 

Shares available for issuance under the 2017 Plan

 

 

6,236,628

 

Total shares of authorized common stock reserved for future issuance

 

 

12,700,433