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Subsequent Events
6 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
In August 2021, the Company’s board of directors approved the terms of administering the 2021 Employee Stock Purchase Plan ("ESPP"), and the first offering period of the plan is expected to commence on August 15, 2021. The Company has initially reserved 1.3 million shares of its Class A common stock for issuance and sale under the ESPP.
The ESPP will allow eligible employees the option to purchase shares of the Company's Class A common stock at a 15% discount through payroll deductions of their eligible compensation, subject to certain plan limitations. The ESPP provides for six-month offering periods beginning February and August of each fiscal year. On each purchase date, eligible employees purchase the Company’s stock at a price per share equal to 85% of the lesser of (i) the fair market value of the Company’s Class A common stock on the offering date or (ii) the fair market value of the Company’s Class A common stock on the purchase date.
The Company will recognize stock-based compensation expense related to shares issued pursuant to its ESPP on a straight-line basis over the offering period.