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EQUITY INCENTIVE PLAN (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes the changes in the Company’s outstanding stock options for the three months ended March 31, 2024:

 

 

 

Number of
Options

 

Outstanding at January 1, 2024

 

 

14,271,587

 

Granted (1)

 

 

4,461,083

 

Exercised

 

 

(70,670

)

Forfeited / Cancelled / Expired

 

 

(181,006

)

Outstanding at March 31, 2024

 

 

18,480,994

 

_____________________________________________

(1)
Includes employee new hire grants of stock options to purchase 91,100 shares of the Company's Class A common stock. Also includes annual employee grants of stock options and special employee grants of stock options to purchase 1,934,983 shares of the Company's Class A common stock, and grants to executive officers of stock options to purchase 2,435,000 shares of the Company's Class A common stock. The grants will vest 25% on the first anniversary date of the grant with the remainder vesting equally over the remaining 36 months, subject to the employee’s continued service to the Company through the applicable vesting dates.
Summary of Restricted Stock Unit Activity

The following table summarizes the changes in the Company’s outstanding RSUs for the three months ended March 31, 2024:

 

 

 

Number of
RSUs

 

Outstanding at January 1, 2024

 

 

369,026

 

Granted

 

 

 

Vested

 

 

(41,036

)

Forfeited

 

 

(13,747

)

Outstanding at March 31, 2024

 

 

314,243

 

 

Summary of Stock-Based Compensation Expenses by Function

The following table presents details of stock-based compensation expenses by functional line item noted within the Company's operating expenses:

 

 

 

Three Months Ended
March 31,

 

 

 

2024

 

 

2023

 

Cost of sales

 

$

24

 

 

$

23

 

Research and development

 

 

337

 

 

 

206

 

Sales and marketing

 

 

39

 

 

 

38

 

General and administrative

 

 

632

 

 

 

859

 

 

 

$

1,032

 

 

$

1,126