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Equity Incentive Plans | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Equity Incentive Plans | EQUITY INCENTIVE PLANS As of March 31, 2022, there are 11,400,396 shares of Class A common stock reserved for issuance under the 2020 Equity Incentive Plan, of which 5,009,917 shares are available for issuance in connection with grants of future awards. Stock Options Stock option activity for the three months ended March 31, 2022 is as follows:
| Options Outstanding |  | Weighted Average Exercise Price
Balance at December 31, 2021 | 9,832,924 |  |  | $ | 12.49 |
Options granted | 1,947,230 |  |  | 16.90 |
Options exercised | (194,207) |  |  | 3.98 |
Options cancelled and forfeited | (25,943) |  |  | 29.94 |
Balance at March 31, 2022 | 11,560,004 |  |  | $ | 13.34 |
Vested and exercisable, March 31, 2022 | 3,732,802 |  |  | $ | 8.43 |
Restricted Stock Awards Certain stock options granted provide stock option holders the right to exercise unvested stock options in exchange for restricted shares of Class A common stock. The Company has also issued restricted shares of Class A common stock to employees and directors. There were 125,231 shares and 174,300 shares of restricted stock that were unvested and subject to repurchase as of March 31, 2022 and December 31, 2021, respectively. Restricted Stock Units RSU activity for the three months ended March 31, 2022 is as follows:
| Restricted Stock Units |  | Weighted-Average Grant Date Fair Value
Balance at December 31, 2021 | 740,366 |  |  | $ | 26.49 |
Granted | 1,310,465 |  |  | 16.55 |
Vested | (89,044) |  |  | 38.40 |
Cancelled | (2,745) |  |  | 28.54 |
Balance at March 31, 2022 | 1,959,042 |  | $ | 19.30 |
Employee Stock Purchase Plan A total of 1,195,327 shares of Class A common stock are reserved for issuance under the 2020 Employee Stock Purchase Plan (ESPP) as of March 31, 2022. During the three months ended March 31, 2022 and 2021, no shares of Class A common stock were issued under the ESPP. Stock-Based Compensation The following table summarizes the components of stock-based compensation recognized in the Company’s condensed consolidated statements of operations and comprehensive loss (in thousands):
| Three Months Ended March 31,
| 2022 |  | 2021
Cost of revenue | $ | 208 |  |  | $ | — |
Research and development | 2,001 |  |  | 1,492 |
Selling, general and administrative | 5,853 |  |  | 4,547 |
Total stock-based compensation | $ | 8,062 |  |  | $ | 6,039 |

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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 + Details
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