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STOCKHOLDERS' EQUITY (DEFICIT) AND COMPENSATION ARRANGEMENTS | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
STOCKHOLDERS' EQUITY (DEFICIT) AND COMPENSATION ARRANGEMENTS | STOCKHOLDERS' EQUITY (DEFICIT) AND COMPENSATION ARRANGEMENTS Groupon, Inc. Incentive Plan In August 2011, we established the Groupon, Inc. 2011 Incentive Plan, as amended and restated (the "2011 Plan"), under which options, restricted stock units and performance stock units for up to 13,775,000 shares of common stock are authorized for future issuance to employees, consultants and directors. The 2011 Plan is administered by the Compensation Committee of the Board. As of June 30, 2023, 2,631,382 shares of common stock were available for future issuance under the 2011 Plan. Restricted Stock Units The restricted stock units granted under the 2011 Plan ("Restricted Stock Units") generally have vesting periods between one and four years and are amortized on a straight-line basis over their requisite service period. The table below summarizes Restricted Stock Unit activity for employees and non-employees under the 2011 Plan for the six months ended June 30, 2023:
| Restricted Stock Units |  | Weighted-Average Grant Date Fair Value (per unit)
Unvested at December 31, 2022 | 2,876,089 |  |  | $ | 19.33 |
Granted | 563,429 |  |  | 5.20 |
Vested | (1,092,252) |  |  | 21.88 |
Forfeited | (1,119,327) |  |  | 16.03 |
Unvested at June 30, 2023 | 1,227,939 |  |  | $ | 10.55 |
As of June 30, 2023, $9.0 million of unrecognized compensation costs related to unvested Restricted Stock Units are expected to be recognized over a remaining weighted-average period of 1.03 years. Stock Options On March 30, 2023, we issued 3,500,000 units of stock options with a per share value of $0.95, a strike price of $6.00 and vesting over two years. The exercise price of stock options granted is equal to the fair market value of the underlying stock on the date of grant. The contractual term for these stock options expires three years from the grant date. The fair value of stock options on the grant date is amortized on a straight-line basis over the requisite service period. The fair value of stock options granted is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. Expected volatility is based on Groupon's historical volatility over the estimated expected life of the stock options. The expected term represents the period of time the stock options are expected to be outstanding. The risk-free interest rate is based on yields on U.S. Treasury STRIPS with maturity similar to the estimated expected life of the stock options. The weighted-average assumptions for stock options granted are outlined in the following table:
Dividend yield | 0.0 | %
Risk-free interest rate | 4.1 | %
Expected term (in years) | 2
Expected volatility | 78.2 | %
The table below summarizes stock option activity for the six months ended June 30, 2023:
| Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Outstanding at December 31, 2022 | — |  |  | $ | — |  |  | — |  |  | $ | — |
Granted | 3,500,000 |  |  | 6.00 |  |  | 3.00 |  | — |
Outstanding at June 30, 2023 | 3,062,500 |  |  | 6.00 |  |  | 2.75 |  | — |
Vested and exercisable at June 30, 2023 | 437,500 |  |  | $ | 6.00 |  |  | 2.75 |  | $ | — |
As of June 30, 2023, there was $2.9 million of total unrecognized compensation costs related to unvested stock options granted under the 2011 Plan. That cost is expected to be recognized over a weighted-average period of 1.75 years. The total fair value of shares vested during the six months ended June 30, 2023 was $0.4 million. Performance Shares Units We have previously granted performance share units under the 2011 Plan that vest in shares of our common stock upon the achievement of financial and operational targets specified in the respective award agreement ("Performance Share Units"). Our existing Performance Share Units are subject to continued employment through the performance period dictated by the award and certification by the Compensation Committee of the Board that the specified performance conditions have been achieved. The table below summarizes Performance Share Unit activity under the 2011 Plan for the six months ended June 30, 2023:
| Performance Share Units |  | Weighted-Average Grant Date Fair Value (per unit)
Unvested at December 31, 2022 | 17,269 |  |  | $ | 24.13 |
Granted | — |  |  | — |
Vested | (17,269) |  |  | 24.13 |
Forfeited | — |  |  | — |
Unvested at June 30, 2023 | — |  |  | $ | — |

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
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