Equity and Equity Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Reserved Shares of Common Stock

We have reserved shares of common stock for future issuance under our 2017 EIP as follows:

	March 31, 2022	December 31, 2021
Stock options issued and outstanding	3,955,888	4,019,011
Restricted stock units outstanding	4,630,425	4,617,425
Shares available for future equity grants	19,788,185	15,205,854
Total shares reserved for future issuance	28,374,498	23,842,290

We have reserved shares of common stock for future issuance under our ESPP as follows:

	Three Months Ended March 31, 2022	Year Ended December 31, 2021
Shares available for issuance at beginning of period	4,768,506	4,039,667
Shares issued during the period	—	(334,248)
Total shares available for future issuance at end of period	4,768,506	3,705,419

Schedule of Stock Option Activity

Option activity for the three months ended March 31, 2022 was as follows:

	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2022(1)	4,019,011	$	8.02	3.73	$	122,038
PSOs earned(1)	150,000	27.50
Options exercised	(208,499)	8.08
Options expired	(4,624)	8.19
Outstanding as of March 31, 2022	3,955,888	8.76		3.35	39,549
Options exercisable as of March 31, 2022	3,955,888	8.76		3.35	39,549

(1) We granted stock options subject to performance conditions (“PSOs”) to our chief executive officer in 2019. We previously reported the target achievement level of these PSOs - 150,000 PSOs - within our outstanding stock options. During the first quarter of 2022, our board of directors determined that our chief executive officer earned his PSOs at the maximum achievement level. Accordingly, we are reporting an additional 150,000 PSOs as being earned during the first quarter of 2022.

Schedule of Nonvested Restricted Stock Units Activity

Restricted stock unit activity for the three months ended March 31, 2022 was as follows:

	Restricted Stock Units	Weighted-Average Grant-Date Fair Value
Outstanding as of January 1, 2022	4,617,425	$	37.13
Granted	952,396	20.01
Vested	(684,357)	23.13
Forfeited or canceled	(255,039)	40.91
Outstanding or deferred as of March 31, 2022(1)	4,630,425	35.47

(1) Starting with the restricted stock units granted to them in June 2019, our non-employee directors have the option to defer the issuance of common stock receivable upon vesting of such restricted stock units until 60 days following the day they are no longer providing services to us or, if earlier, upon a change in control transaction. The amount reported as vested excludes restricted stock units that have vested but whose settlement into shares has been deferred. The amount reported as outstanding or deferred as of March 31, 2022 includes these restricted stock units. As no further conditions exist to prevent the issuance of the shares of common stock underlying these restricted stock units, the shares are included in basic and diluted weighted shares outstanding used to calculate net loss per share attributable to common stock. The amount of shares whose issuance have been deferred is not considered material and is not reported separately from stock-based compensation in our consolidated statements of changes in mezzanine equity and stockholders’ equity.

Schedule of Allocation of Share-based Compensation Costs

Stock-based compensation expense associated with the PSUs is as follows:

	Three Months Ended March 31,
	2022		2021
PSU expense	$	693	$	1,099

The following table details, for each period indicated, our stock-based compensation, net of forfeitures, and the amount capitalized in website and software development costs, each as included in our consolidated statements of comprehensive loss:

	Three Months Ended March 31,
	2022		2021
Cost of revenue	$	3,377	$	2,978
Technology and development(1)	7,965		5,761
Marketing	1,072		542
General and administrative	4,374		3,302
Total stock-based compensation	$	16,788	$	12,583

(1) Net of $1,134 and $732 of stock-based compensation that was capitalized in the three months ended March 31, 2022 and 2021, respectively.