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Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Options Granted Under The Plan

Set out below are summaries

of options granted under the

plans:


	Number of options (thousands)			Weighted average exercise price		Remaining contractual terms in years		Weighted average grant date fair value

At January 1, 2020		6,880			0.71		5.03		0.50

Granted during the year		7,382			10.41		—		5.01
Forfeit during the year		(815	)		7.79		—		4.11
Migration to RSU		(2,587	)		1.48		—		1.48
Exercised during the year		(1,182	)		1.38		—		0.42

At December 31, 2020		9,678			2.90		5.65		0.68

Granted during the year		1,799			10.66		—		5.10
Forfeit during the year		(156	)		8.76		—		4.44
Exercised during the year (i)		(2,512	)		1.44		—		0.44

At December 31, 2021		8,809			4.78		5.37		1.58

Granted during the year		3,910			4.39		—		1.98
Forfeit during the year		(2,508	)		7.22		—		3.19
Exercised during the year (i)		(497	)		1.14		—		0.46

At December 31, 2022		9,714			4.18		4.37		1.41

Stock options exercisable as of December 31, 2022		3,270			3.82		3.95		1.07

(i)	The number of stock options withheld for tax purposes was 79 thousand shares (25 thousand shares in 2021).

Summary of Restricted Stock Units Granted Under The Plan

The

following table sum

arizes the RSU granted under the

plan:


	Number of RSUs (thousands)			Weighted average grant date fair value

At January 1, 2020	—			—

RSU granted due to migration		2,343			1.57
RSU granted (ordinary grants)		276			1.27
Forfeit during the y ear		(36	)		0.65

At December 31, 2 020		2,583			1.37

RSU granted		1,619			13.88
Forfeit during the year		(576	)		3.34
Settled (i)		(625	)		1.57

At December 31, 2021		3,001			7.70

RSU granted		2,354			5.94
Forfeit during the year		(940	)		7.91
Settled (i)		(906	)		5.86

At December 31, 2022		3,509			6.94

(i)	The number of RSUs withheld for tax purposes was 234.1 thousand shares (125 thousand shares in 2021).

Summary of Classification of Stock-based Compensation in Consolidated Statements

The following table illustrates the classification of share-based compensation in the Consolidated Statements of profit and loss which includes both share-based compensation of VTEX and Loja Integrada, which includes social charges and taxes:


	December 31, 2022			December 31, 2021			December 31, 2020

Subscription cost		(502	)		(696	)		(84	)
Services cost		(156	)		(376	)		(78	)
General and administrative		(4,366	)		(7,087	)		(1,011	)
Sales and marketing		(2,885	)		(5,530	)		(991	)
Research and development		(4,844	)		(5,896	)		(1,131	)

Total		(12,753	)		(19,585	)		(3,295	)

Loja Integrada Share Based Compensation Plan [Member]

Statements [Line Items]

Summary of Options Granted Under The Plan

Set out below are summaries of options granted under the plan:


	Number of options (thousands)			Weighted average exercise price		Remaining contractual terms in years		Weighted average grant date fair value
At December 31, 2020		—			—		—		—

Granted during the year		23.57			12.37		—		5.47
Forfeit during the year		—			—		—		—
Exercised during the year		—			—		—		—

At December 31, 2021		23.57			12.37		6.35		5.47

Granted during the year		—			—		—		—
Forfeit during the year		(15.15	)		12.78		—		5.82
Exercised during the year		—			—		—		—

At December 31, 2022		8.42			13.48		5.35		5.66

Stock options exercisable as of December 31, 2022		6.31			13.48		5.35		5.49

Summary of Restricted Stock Units Granted Under The Plan

The following table summarizes the RSU granted under

the

plan:


	Number of RSUs (thousands)			Weighted average grant date fair value

At December 31, 2020	—			—
RSU granted		94.90			11.22
Settled (i)		(11.87	)		11.22

At December 31, 2021		83.03			11.22

RSU granted		327.27			6.54
Forfeit during the year		(76.24	)		10.70
Settled (i)		(48.78	)		9.69

At December 31, 2022		285.28			6.42

(i)	The number of RSUs withheld for tax purposes was 8.3 thousand shares.