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COMMON STOCK AND STOCKHOLDERS' (DEFICIT) EQUITY (Tables)
6 Months Ended
Jun. 30, 2024
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 six months ended June 30, 2024, which is the period we grant our company-wide annual refresh grants:
Number of RSUsWeighted- average grant date fair value
Unvested at December 31, 202334,551,998 $14.99 
Granted15,217,989 17.14 
Vested(14,276,994)16.11 
Forfeited(4,160,869)15.58 
Unvested at June 30, 202431,332,124 $15.44 
The following table summarizes the activity related to our Market-Based RSUs for the six months ended June 30, 2024:
Eligible to Vest(1)
Not Eligible to Vest(2)
Total Number of RSUsWeighted- average grant date fair value
Unvested at December 31, 2023345,796 22,130,926 22,476,722 $25.67 
Granted— — — 
Vested(172,897)— (172,897)2.34 
Forfeited(115,264)(5,993,795)(6,109,059)25.59 
Unvested at June 30, 202457,635 16,137,131 16,194,766 $25.95 
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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
June 30,
Six Months Ended
June 30,
(in millions)2023202420232024
Brokerage and transaction$$$$
Technology and development 56 52 110 96 
Operations
Marketing
General and administrative49 28 588 40 
Total(1)
$109 $86 $707 $148 
________________
(1)For the three and six months ended June 30, 2023, SBC expense primarily consisted of $81 million and $148 million related to Time-Based RSUs and $25 million and $553 million related to Market-Based RSUs. For the three and six months ended June 30, 2024, SBC expense primarily consisted of $81 million and $149 million related to Time-Based RSUs and $1 million and negative $8 million related to Market-Based RSUs, as portion of the Market-Based RSUs became fully vested in prior periods and was net of an $11 million reversal of previously recognized expense related to unvested awards that were forfeited upon the resignation of our co-founder and former Chief Creative Officer during the first quarter of 2024.