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, 2024, we had approximately nine 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, 2023	8,073	$	123.24
Granted	3,927	137.27
Vested	(4,268)	134.85
Cancelled	(1,020)	121.65
Balance as of December 31, 2024	6,712	124.31

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, 2023	277	$	99.84
Granted	285	133.33
Performance Shares Adjustment(1)	10	118.53
Vested	(37)	192.05
Cancelled	(189)	125.05
Shares probable to be issued as of December 31, 2024(1)	346	99.88

(1)Outcome for vested market-based awards is updated based upon achievement of certain stock price growth rate targets of the Company’s common stock. Probable outcome for unvested market-based awards is based upon achievement of certain stock price growth rate targets of the Company’s common stock as of December 31, 2024. Probable outcome for unvested performance-based awards is updated based upon changes in actual and forecasted operating results or expected achievement of performance goals, as applicable, and the impact of modifications.

The total market value of RSU and PSU shares vested during the years ended December 31, 2024, 2023 and 2022 was $578 million, $316 million and $336 million.

net of forfeiture and vesting since the respective grant dates:



	By Grant Year
Performance Stock Units	2024	2023	2022	Total	Weighted Average Grant-Date Fair Value
	(In thousands)
Shares probable to be issued	—	346	—	346	$	99.88

Shares that could be issued if maximum performance thresholds are met	494	346	153	993	135.45

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, 2023	3,211	$	143.42

Exercised	(781)	109.14
Cancelled	(38)	126.34
Balance as of December 31, 2024	2,392	154.61		1.6	$	76
Exercisable as of December 31, 2024	2,392	154.61		1.6	76

The aggregate intrinsic value of outstanding options shown in the stock option activity table above represents the total pretax intrinsic value at December 31, 2024, based on our closing stock price of $186.33 as of the last trading date in 2024. The total intrinsic value of stock options exercised was $33 million, $9 million and $89 million for the years ended December 31, 2024, 2023 and 2022.

In 2024, 2023 and 2022, we recognized total stock-based compensation expense of $458 million, $413 million and $374 million. The total income tax benefit related to stock-based compensation expense was $152 million, $88 million and $106 million for 2024, 2023 and 2022. We capitalized $81 million, $71 million and $54 million of stock-based compensation expense associated with the cost of developing internal-use software in 2024, 2023 and 2022.

Cash received from stock-based award exercises for the years ended December 31, 2024, 2023 and 2022 was $67 million, $60 million and $98 million, respectively. Total current income tax benefits during the years ended December 31, 2024, 2023 and 2022 associated with the exercise of stock-based awards held by our employees were $24 million, $17 million and $17 million, respectively.

As of December 31, 2024, there was approximately $795 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 1.38 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 2024, 2023 and 2022, approximately 415,000, 442,000, and 305,000 shares were purchased under this plan for an average price of $116.91, $92.56 and $109.36 per share. As of December 31, 2024, we have reserved approximately 1.0 million shares of our common stock for issuance under the ESPP.