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COMMON STOCK AND STOCKHOLDERS' (DEFICIT) EQUITY (Tables)
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Schedule of Stock Option Activity
A summary of stock option activity for the nine months ended September 30, 2022 is as follows:
Number of SharesWeighted-Average Exercise PriceWeighted- Average Remaining Life
Total Intrinsic Value
(in millions)
Balance at December 31, 202114,527,468$2.20 5.37$226 
Granted during the period4,463,248 14.15 
Exercised during the period(2,272,363)2.22 
Cancelled and forfeited during the period(812,778)12.90 
Balance at September 30, 202215,905,575 $5.01 4.93$96 
Options vested and expected to vest at September 30, 202215,905,575$5.01 4.93$96 
Options exercisable at September 30, 202211,916,639$2.05 4.58$96 
Schedule of Activity Related to Time-Based and Market-Based RSUs The following table summarizes the activity related to our Time-Based RSUs for the nine months ended September 30, 2022:
Number of RSUsWeighted- average grant date fair value
Unvested at December 31, 202149,428,070 $31.78 
Granted59,499,760 11.70 
Vested(17,524,831)23.37 
Forfeited(19,475,105)25.88 
Unvested at September 30, 202271,927,894 $18.81 
The following table summarizes the activity related to our Market-Based RSUs for the nine months ended September 30, 2022:
Eligible to Vest(1)
Not Eligible to Vest(2)
Total Number of RSUsWeighted- average grant date fair value
Unvested at December 31, 20211,267,918 57,650,926 58,918,844 $23.50 
Granted— — — 
Vested(345,796)— (345,796)2.34 
Forfeited— — — 
Unvested at September 30, 2022922,122 57,650,926 58,573,048 $23.63 
________________
(1)Represents RSUs that became eligible to vest upon achievement of share price targets and vest upon satisfaction of time-based service requirements.
(2)Represents RSUs that have not yet become eligible to vest because share price targets have not yet been achieved.
Schedule of Share-Based Compensation
The following table presents share-based compensation on our unaudited condensed consolidated statements of operations for the periods indicated:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions)2021202220212022
Brokerage and transaction$$$$
Technology and development 503 25 505 166 
Operations 16 — 16 
Marketing41 — 41 
General and administrative678 83 686 316 
Total$1,244 $110 $1,254 $494 
The following table presents share-based compensation by award type for the periods indicated:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions)2021202220212022
Time-Based RSUs$881 $27 $889 $235 
Market-Based RSUs360 79 360 245 
Employee Share Purchase Plan (“ESPP”)
Options
Total$1,244 $110 $1,254 $494 
Schedule Of Vesting For Awards Outstanding Scheduled vesting for awards outstanding as of September 30, 2022, is as follows:
(in millions, except for number of shares)
Number of Shares(1)
Expense
Remainder of 20228,513,485 $194 
202328,262,503 577 
202420,943,065 378 
202514,571,511 253 
20264,565,337 48 
Total76,855,901 $1,450 
________________(1) Excludes future ESPP shares and Market-Based RSUs for which the share price target has not been met as we cannot forecast the vesting of these shares.