In July 2021, the 2021 Equity Incentive Plan (the "2021 Plan") was adopted and approved by the Company's board of directors and stockholders.

Restricted Stock Units and Restricted Stock Awards—The table below summarizes the restricted stock unit ("RSU") and restricted stock award ("RSA") activity for the nine months ended September 30, 2025:


				Weighted-
				Average
	Shares			Fair Value
Unvested —December 31, 2024		31,042,552		$	10.92
Granted		16,064,203			10.17
Vested		(17,476,705	)		11.17
Forfeited		(2,477,192	)		10.52
Unvested —September 30, 2025		27,152,858			10.34

In connection with the acquisition of EvolutionIQ (see Note 3), the Company granted 792,174 RSAs that are subject to service conditions.

During the nine months ended September 30, 2025, the Company granted 16,064,203 RSUs, including 5,712,249 RSUs as part of the acquisition of EvolutionIQ. Of the RSUs granted during the nine months ended September 30, 2025, 14,783,686 have time-based vesting requirements, and 1,280,517 have performance-based vesting requirements.

During the nine months ended September 30, 2025, 17,476,705 RSUs and RSA vested, of which 4,745,309 were withheld for employee tax obligations.

Stock Options—The table below summarizes the stock option activity for the nine months ended September 30, 2025:


						Weighted-
						Average
				Weighted-		Remaining		Aggregate
				Average		Contractual		Intrinsic
				Exercise		Life		Value
	Shares			Price		(in years)		(in thousands)
Options outstanding—December 31, 2024		23,349,505		$	3.11		3.2	$	201,305
Exercised		(1,238,883	)		2.93
Forfeited and canceled		(34,737	)		8.58
Options outstanding—September 30, 2025		22,075,885		$	3.11		2.3	$	132,455
Options exercisable—September 30, 2025		21,850,095		$	3.05		2.3	$	132,335
Options vested and expected to vest—September 30, 2025		22,074,471		$	3.11		2.3	$	132,454

The fair value of the options which vested during the nine months ended September 30, 2025 was $1.5 million.

Cayman Equity Incentive Plan—In December 2022, the Company adopted the CCCIS Cayman Holdings Employees Equity Incentive Plans ("Cayman Incentive Plans"), which provide for the issuance of stock option awards in CCC Cayman ("Cayman Awards") to eligible employees of the Company's China subsidiaries.

Awards under the Cayman Incentive Plans are settled in cash and thus accounted for as liability awards. Awards granted under the Cayman Incentive Plans have time-based vesting and expire on the tenth anniversary of the grant date.

There were no stock options under the Cayman Incentive Plans granted during the nine months ended September 30, 2025. The exercise price of the options granted is equal to the fair value of the underlying shares at the grant date. As of September 30, 2025 and December 31, 2024, stock options outstanding under the Cayman Incentive Plans are 2,355,400 and 2,363,514, respectively. None of the outstanding stock options are exercisable.

Employee Stock Purchase Plan—In July 2021, the Company adopted the CCC 2021 Employee Stock Purchase Plan ("ESPP").

During the nine months ended September 30, 2025, 599,176 shares were sold under the ESPP.

Stock-Based Compensation—Stock-based compensation expense has been recorded in the accompanying condensed consolidated statements of operations and comprehensive (loss) income as follows for the three and nine months ended September 30, 2025 and 2024 (in thousands):


	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Cost of revenues	$	2,124	$	2,297	$	8,919	$	7,051
Research and development		13,734		12,164		45,870		34,750
Sales and marketing		10,918		6,637		36,568		19,150
General and administrative		12,417		21,027		54,859		66,270
Total stock-based compensation expense	$	39,193	$	42,125	$	146,216	$	127,221

As of September 30, 2025, there was $180.6 million of unrecognized stock compensation expense related to unvested time-based awards which is expected to be recognized over a weighted-average period of 2.2 years. As of September 30, 2025, there was $20.0 million of unrecognized stock-based compensation expense related to unvested performance-based awards which is expected to be recognized over a weighted-average period of 1.9 years.

As of September 30, 2025, there was $29.6 million of unrecognized stock compensation expense related to the restricted common stock subject to re-vesting conditions issued as part of the acquisition of EvolutionIQ in January 2025 (see Note 3 and Note 17). The unrecognized stock compensation expense is expected to be recognized over a weighted-average period of 1.3 years.