COMMON STOCK AND STOCKHOLDERS' (DEFICIT) EQUITY (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

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 three months ended March 31, 2023, which is the period we grant our company-wide annual refresh grants:

	Number of RSUs	Weighted- average grant date fair value
Unvested at December 31, 2022	56,116,782	$	18.55
Granted	19,251,484	9.72
Vested	(7,078,184)	15.53
Forfeited	(4,700,651)	17.24
Unvested at March 31, 2023	63,589,431	$	17.33

The following table summarizes the activity related to our Market-Based RSUs for the three months ended March 31, 2023:

	Eligible to Vest(1)	Not Eligible to Vest(2)	Total Number of RSUs	Weighted- average grant date fair value
Unvested at December 31, 2022	806,858	57,650,926	58,457,784	$	23.67
Granted	—	—	—
Vested	(115,266)	—	(115,266)	2.34
Cancelled	—	(35,520,000)	(35,520,000)	22.68
Unvested at March 31, 2023	691,592	22,130,926	22,822,518	$	25.32

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(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 SBC on our unaudited condensed consolidated statements of operations for the periods indicated:

	Three Months Ended March 31,
(in millions)	2022		2023
Brokerage and transaction	$	1	$	2
Technology and development	82		54
Operations	4		2
Marketing	5		1
General and administrative	128		539
Total(1)	$	220	$	598

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(1) For the three months ended March 31, 2023 and 2022, SBC expense primarily consisted of $528 million and $84 million related to Market-Based RSUs and $67 million and $130 million related to Time-Based RSUs.