STOCK-BASED AWARDS

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

11. STOCK-BASED AWARDS

Stock-based compensation expense is classified within the corresponding operating expense categories on our consolidated statements of operations as follows (in thousands):


	Three months ended March 31,
	2023		2022
Cost of goods sold	$	19	$	54
Sales and marketing	190		345
Technology	2,422		1,840
General and administrative	3,164		2,400
Total stock-based compensation	$	5,795	$	4,639

Overstock restricted stock awards

The Overstock.com, Inc. Amended and Restated 2005 Equity Incentive Plan provides for the grant of restricted stock units to employees and directors of the Company and other types of equity awards of the Company. These restricted stock awards generally vest over three years at 33.3% at the end of the first year, 33.3% at the end of the second year and 33.4% at the end of the third year, subject to the recipient's continuing service to us.

The following table summarizes restricted stock award activity (in thousands, except per share data):


	Three months ended March 31, 2023
	Units	Weighted Average Grant Date Fair Value
Outstanding—beginning of year	781	$	50.17
Granted at fair value	1,033	20.92
Vested	(268)	44.79
Forfeited	(57)	39.50
Outstanding—end of period	1,489	$	31.26

Employee Stock Purchase Plan

Purchases under the Overstock.com, Inc. 2021 Employee Stock Purchase Plan (the "ESPP") during the three months ended March 31, 2023 and 2022 were 68,011 shares and 41,918 shares, respectively, at an average purchase price per share of $16.46 and $48.37, respectively. At March 31, 2023, approximately 2.8 million shares of common stock remained available under the ESPP.

For the three months ended March 31, 2023 and 2022, we recognized $548,000 and $627,000, respectively, in stock-based compensation expense related to the ESPP, which is included in the stock-based compensation expense table above combined with the expense associated with our restricted stock units.