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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Share-based Payment Arrangement, Option, Activity | The following table summarizes option balances as of December 31, 2024, and changes during the year then ended:
| Number of options |  | Weighted-average exercise price |  | Weighted-average remaining contractual term (in years) |  | Aggregate intrinsic value (in thousands) (1)
Outstanding at January 1, 2024 | 3,525,594 |  |  | $ | 5.02 |  |  | 6.50 |  | $ | 13,250 |
Granted | 417,835 |  |  | $ | — |  |  |  |  |
Exercised | (89,627) |  |  | $ | 0.15 |  |  |  |  |
Forfeited | (47,713) |  |  | $ | 4.92 |  |  |  |  |
Outstanding at December 31, 2024 | 3,806,089 |  |  | $ | 4.58 |  |  | 5.78 |  | $ | 26,086 |
Exercisable at December 31, 2024 | 3,362,234 |  |  | $ | 5.19 |  |  | 5.33 |  | $ | 22,171 |
(1) 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, Restricted Stock Unit, Activity | The following table summarizes RSUs activity:
| Number of RSUs outstanding |  | Weighted-average ordinary fair value per share at grant date
Outstanding at January 1, 2024 | 822,241 |  |  | $ | 11.85 |
Granted | 1,825,274 |  |  | 4.27
Vested | (890,458) |  |  | 8.20 |
Forfeited | (174,254) |  |  | 6.70 |
Outstanding at December 31, 2024 | 1,582,803 |  |  | $ | 5.73 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount | The total equity-based compensation expense recognized in the Company’s consolidated statements of operations are as follows:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Cost of revenues | $ | — |  |  | $ | — |  |  | $ | 72 |
Research and development | 4,205 |  |  | 8,397 |  |  | 13,188 |
Selling, general and administrative | 5,380 |  |  | 7,881 |  |  | 13,632 |
| $ | 9,585 |  |  | $ | 16,278 |  |  | $ | 26,892 |

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