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SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The share-based compensation expense recognized in the Company’s consolidated statements of operations are as follow:

			December 31, 2021						December 31, 2020						December 31, 2019
Cost of sales			$	437					$	—					$	—
Research and development			208,935						21,419						3,793
Selling, general and administrative			238,705						31,344						3,253
			$	448,077					$	52,763					$	7,046

Share-based Payment Arrangement, Option, Activity

A summary of option balances under the 2021 and 2011 Share Incentive Plan as of December 31, 2021, and changes during the year then ended are as follows:

			Number of options (1)						Weighted-average exercise price (1)						Weighted-average remaining contractual term (in years)						Aggregate intrinsic value (in thousands) (2)
Outstanding at January 1, 2020			48,686,115						$	0.19					8.57						$	104,634
Granted			28,040,518						$	0.73
Exercised			(5,198,548)						$	0.04
Forfeited			(141,519)						$	0.05
Cancelled			—						$	—
Outstanding at December 31, 2020			71,386,566						$	0.41					8.39						$	360,631
Granted			46,297,737						$	0.01
Exercised			(3,715,925)						$	0.22
Forfeited			(681,312)						$	0.50
Cancelled			—						$	—
Outstanding at December 31, 2021			113,287,066						$	0.20					8.28						$	605,788
Exercisable at December 31, 2021			100,391,350						$	0.17					8.22						$	539,762

(1)Results have been retroactively adjusted to reflect the 1:26.7017 stock split and the changes in par value from 0.01 NIS to no par value effected on July 22, 2021. See Note 7, for details.

(2) Intrinsic value is calculated as the difference between the fair value of REE’s Class A ordinary shares as of the end of each reporting period and the exercise price of the option.

Share-based Payment Arrangement, Option, Exercise Price Range

The following tables summarize information about the Company's outstanding and exercisable options granted to employees as of December 31, 2021:

						Outstanding Options																		Exercisable Options
Range of exercise prices						Number of outstanding options						Weighted-average remaining contractual term (in years)						Weighted-average exercise price						Number of exercisable options						Weighted-average remaining contractual term (in years)						Weighted-average exercise price
$0.00 - $0.02						58,945,159						4.82						$0.00						52,555,526						4.84						$0.00
$0.02 - $0.05						23,664,317						1.36						$0.01						23,146,974						1.50						$0.01
$0.05 - $0.10						854,454						0.05						$0.00						674,217						0.04						$0.00
$0.10 - $1.00						25,867,252						1.76						$0.10						21,424,617						1.62						$0.10
$1.00 - $9.74						3,955,884						0.29						$0.09						2,590,016						0.22						$0.07
Total						113,287,066						8.28						$0.20						100,391,350						8.22						$0.17

Share-based Payment Arrangement, Restricted Stock Unit, Activity

Restricted share units activity

The following table summarizes restricted share units activity:

			Number of restricted share units outstanding						Weighted-average ordinary fair value per share at grant date
Outstanding at January 1, 2021			—						$	—
Granted			492,782						4.35
Vested			—						—
Forfeited			—						—
Expired			—						—
Outstanding at December 31, 2021			492,782						$	4.35
Exercisable at December 31, 2021			—

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