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COMMON STOCK AND STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 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 nine months ended September 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 
Granted16,910,355 17.56 
Vested(20,646,236)16.43 
Forfeited(6,203,621)15.33 
Unvested at September 30, 202424,612,496 $15.46 
The following table summarizes the activity related to our Market-Based RSUs for the nine months ended September 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(230,532)— (230,532)2.34 
Forfeited(3)
(115,264)(11,065,463)(11,180,727)25.79 
Unvested at September 30, 2024— 11,065,463 11,065,463 $26.04 
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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.
(3)The 11 million forfeited shares reflects the impact of the resignation of our co-founder and former Chief Creative Officer during the first quarter of 2024.
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
September 30,
Nine Months Ended
September 30,
(in millions)2023202420232024
Brokerage and transaction$$$$
Technology and development 51 48 161 144 
Operations
Marketing
General and administrative26 25 614 65 
Total(1)
$83 $79 $790 $227 
________________
(1)For the three and nine months ended September 30, 2023, SBC expense primarily consisted of $70 million and $218 million related to Time-Based RSUs and $10 million and $563 million related to Market-Based RSUs. For the three and nine months ended September 30, 2024, SBC expense primarily consisted of $76 million and $225 million related to Time-Based RSUs and an immaterial amount and negative $8 million related to Market-Based RSUs, as a 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.