SHARE-BASED AWARDS (Tables)

12 Months Ended

Dec. 31, 2020

SHARE-BASED AWARDS

Summary of the stock option activity

A summary of the stock option activity for the year ended December 31, 2020, is as follows:

				Weighted-
		Weighted-		Average	Aggregate
	Number of	Average		Remaining	Intrinsic
	Options	Exercise		Contractual	Value
	(in thousands)	Price		Term (in years)	(in thousands)
Balance – December 31, 2019	22,633	$	3.00	6.9	$	110,481
Retroactive conversion of shares due to Business Combination	13,976		(1.15)
Balance – December 31, 2019, as converted	36,609	$	1.85	6.9	$	110,481
Granted	—
Exercised	(5,649)		1.33
Forfeited	(5,513)		2.04
Expired	(1,289)		2.22
Balance – December 31, 2020	24,158		1.91	5.4	$	502,767
Exercisable – December 31, 2020	18,961		1.55	4.6	$	401,436

Summary of the RSU activity

A summary of the RSU activity for the year ended December 31, 2020, is as follows:

		Weighted-
	Number of	Average
	RSUs	Grant-Date
	(in thousands)	Fair Value
Unvested and outstanding – December 31, 2019	14,070		6.79
Retroactive conversion of shares due to Business Combination	8,689		(2.59)
Unvested and outstanding – December 31, 2019, as converted	22,759	$	4.20
Granted	29,189		15.67
Forfeited	(5,423)		4.33
Unvested and outstanding – December 31, 2020	46,525		10.88
Vested and outstanding – December 31, 2020	—		—

Summary of the Restricted Shares activity

A summary of the Restricted Shares activity for the year ended December 31, 2020 is as follows:

	Number of	Average
	Restricted Shares	Grant-Date
	(In thousands)	Fair Value
Unvested – December 31, 2019	2,156	$	5.98
Retroactive conversion of shares due to Business Combination	1,331	$	(2.28)
Unvested – December 31, 2019, as converted	3,487	$	3.70
Granted	—		—
Vested	(1,339)		3.63
Unvested – December 31, 2020	2,148	$	3.74
Vested and outstanding – December 31, 2020	—		—

Summary of stock-based compensation expense in the statements of operations

Stock-based compensation expense is allocated based on the cost center to which the award holder belongs. The following table summarizes total stock-based compensation expense by function as presented in the statements of operations for the years ended December 31, 2020, 2019 and 2018, as follows (in thousands):

	2020		2019		2018
General and administrative	$	33,020	$	6,456	$	8,424
Sales, marketing and operations		1,203		1,767		1,905
Technology and development		3,782		4,973		4,645
Total stock-based compensation expense	$	38,005	$	13,196	$	14,974

Summary of assumptions used in the Black-Scholes Model for employee and non-employee stock options

The range of assumptions used in the Black-Scholes Model for employee and non-employee stock options for 2019, and 2018 are as follows:

	2019 Range			2018 Range
Fair value		$4.22 – $4.29			$1.42 – $3.02
Volatility		32% – 45	%		32% – 34	%
Risk-free rate		1.63% – 2.34	%		2.68% – 3.17	%
Expected life (in years)		5 – 7			5 – 7
Expected dividend	$	—		$	—