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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Summary of The Activity of Restricted Stock And Restricted Stock Units Granted By The Company
The following is the activity of restricted stock and restricted stock units granted by the Company:
 
 
  
Shares
 
  
Weighted Average
Grant Date Fair
Value
 
Non-vested
as of January 1, 2021
      85,903,970      $ 2.80  
Granted
(1)
     9,112,569        8.62  
Vested
      (9,300,893 )       11.04  
Forfeited
(2)
     (4,700,102 )       9.46  
Cancelled
(3)
     (16,655,197 )       3.60  
Modified
      (68,986,297 )       2.78  
Modified and reissued
      68,986,297        11.36  
    
 
 
     
 
 
  
Non-vested
as of September 30
, 2021
  
 
 64,360,347
 
  
$
 10.94  
    
 
 
     
 
 
  
 
(1)
During the nine months ended September 30, 2021, the Company granted 8,824,045 restricted stock and 288,724 restricted stock units to its employees and board members, of which 1,660,677 restricted stock and 98,993 restricted stock units were granted prior to March 12, 2021 and will be governed by the vesting rules described in a), b) and c) above. Remaining shares that were granted on or after March 12, 2021 shall vest over a period of four years, with 25% vesting on the
one-year
anniversary of the IPO and the remainder vesting in equal quarterly installments thereafter through the 4th anniversary of the grant date. The Company also converted 1,198,219 restricted stock into restricted stock units for certain employee related grants included in the cancelled grants in the statements of shareholders equity for the nine months ended September 30, 2021.
(2)
During the nine months ended September 30, 2021, the 4,682,178 restricted stock and 17,924 restricted stock units were forfeited.
(3)
During the nine months ended September 30, 2021, the Company also cancelled 16,655,197 shares of restricted stock granted to holders of series A redeemable convertible preferred shares (see Note 10 to the condensed unaudited consolidated financial statements below).
 
Summary of Share-based Compensation Arrangements by Share-based Payment Award
 
                      
                      
                      
                      
                      
                      
20 Day VWAP of Class A common stock
  
Below $10
  
$10.00
  
$12.50
  
$15.00
  
$18.50
  
$22.00
Percentage of target PSUs
  
0%
  
25%
  
50%
  
100%
  
150%
  
200%