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Share-Based Compensation

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

Share-Based Compensation

During the three months ended March 31, 2021, we granted 3.8 million restricted stock units ("RSUs") under the Rackspace Technology, Inc. 2020 Equity Incentive Plan with a weighted-average grant date fair value of $22.67. The majority of the RSUs were granted as part of our annual compensation award process and vest ratably over a three-year period, subject to continued service.

Share-based compensation expense recognized was as follows: 

			Three Months Ended March 31,
(In millions)			2020						2021
Cost of revenue			$	1.8					$	4.9
Selling, general and administrative expenses			5.7						12.3
Pre-tax share-based compensation expense			7.5						17.2
Less: Income tax benefit			(1.6)						(3.6)
Total share-based compensation expense, net of tax			$	5.9					$	13.6

As of March 31, 2021, there was $157.0 million of total unrecognized compensation cost related to stock options, RSUs and the ESPP, which will be recognized using the straight-line method over a weighted average period of 2.2 years.

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- Definition

The entire disclosure for share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

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