Pursuant to the Amended and Restated Expedia Group, Inc. 2005 Stock and Annual Incentive Plan, we may grant restricted stock, restricted stock awards, RSUs, stock options and other stock-based awards, such as PSUs, to directors, officers, employees and consultants. As of December 31, 2022, we had approximately 7 million shares of common stock reserved for new stock-based awards under the 2005 Stock and Annual Incentive Plan. We issue new shares to satisfy the exercise or release of stock-based awards.

The following table presents a summary of RSU activity:


	RSUs	Weighted Average Grant-Date Fair Value
	(In thousands)








Balance as of December 31, 2021	5,822	$	140.33
Granted	3,967	150.35
Vested	(2,175)	139.18
Cancelled	(984)	142.14
Balance as of December 31, 2022	6,630	146.43

The following table presents a summary of PSU activity :


	PSUs	Weighted Average Grant-Date Fair Value
	(In thousands)



Shares probable to be issued as of December 31, 2021	380	$	133.42
Granted	125	222.80
Performance Shares Adjustment(1)	(223)	177.35
Vested	(179)	88.04
Cancelled	(70)	189.02
Shares probable to be issued as of December 31, 2022	33	87.58

(1)Outcome for vested performance-based awards is updated based upon achievement of certain stock price growth rate targets of the Company’s common stock. Probable outcome for unvested performance-based awards is based upon achievement of certain stock price growth rate targets of the Company’s common stock as of December 31, 2022.

The total market value of RSU and PSU shares vested during the years ended December 31, 2022, 2021 and 2020 was $336 million, $504 million and $172 million.

The following table summarizes the estimated vesting, as of December 31, 2022, of PSUs granted in 2022, 2021 and 2020, net of forfeiture and vesting since the respective grant dates:



	By Grant Year
Performance Stock Units	2022	2021	2020	Total	Weighted Average Grant-Date Fair Value
	(In thousands)
Shares probable to be issued	—	—	33	33	$	87.58
Shares not subject to the achievement of minimum performance thresholds	—	—	33	33	87.58
Shares that could be issued if maximum performance thresholds are met	205	259	118	582	174.54

The following table presents a summary of our stock option activity:


	Options	Weighted Average Exercise Price		Remaining Contractual Life	Aggregate Intrinsic Value
	(In thousands)			(In years)	(In millions)








Balance as of December 31, 2021	5,191	$	129.17

Exercised	(945)	103.20
Cancelled	(171)	111.66
Balance as of December 31, 2022	4,075	135.93		3.5	$	—
Exercisable as of December 31, 2022	1,756	109.19		1.3	—
Vested and expected to vest after December 31, 2022	4,075	135.93		3.5	—

The aggregate intrinsic value of outstanding options shown in the stock option activity table above represents the total pretax intrinsic value at December 31, 2022, based on our closing stock price of $87.60 as of the last trading date in 2022. The total intrinsic value of stock options exercised was $89 million, $302 million and $74 million for the years ended December 31, 2022, 2021 and 2020.

There were no options granted during 2022 or 2020. The fair value of stock options granted during 2021 were estimated at the date of grant using the Black-Scholes option-pricing model, assuming the following weighted average assumptions:


Risk-free interest rate	0.82		%
Expected volatility	42.64		%
Expected life (in years)	5.13
Dividend yield	—		%
Weighted-average estimated fair value of options granted during the year	$	60.39

In 2022, 2021 and 2020, we recognized total stock-based compensation expense of $374 million, $418 million and $205 million. The total income tax benefit related to stock-based compensation expense was $106 million, $157 million and $44 million for 2022, 2021 and 2020. We capitalized $54 million, $68 million and $36 million of stock-based compensation expense associated with the cost of developing internal-use software in 2022, 2021 and 2020.

Cash received from stock-based award exercises for the years ended December 31, 2022, 2021 and 2020 was $98 million, $476 million and $301 million, respectively. Total current income tax benefits during the years ended December 31, 2022, 2021 and 2020 associated with the exercise of stock-based awards held by our employees were $17 million, $28 million and $1 million, respectively.

As of December 31, 2022, there was approximately $938 million of unrecognized stock-based compensation expense related to unvested stock-based awards, which is expected to be recognized in expense over a weighted-average period of 2.73 years.

We have an Employee Stock Purchase Plan (“ESPP”), which allows shares of our common stock to be purchased by eligible employees at three-month intervals at 85% of the fair market value of the stock on the last day of each three-month period. Eligible employees were allowed to contribute up to 15% of their base compensation. During 2022, 2021 and 2020, approximately 305,000, 194,000, and 212,000 shares were purchased under this plan for an average price of $109.36, $135.38