Quarterly report pursuant to Section 13 or 15(d)

Restricted Stock Units

v3.22.1
Restricted Stock Units
3 Months Ended
Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Restricted Stock Units

16. RESTRICTED STOCK UNITS (RSUs)

The following table sets forth the activity related to the number of outstanding RSUs for the three months ended March 31, 2022:

 

 

 

Number of

shares

 

 

Weighted-

average

grant date

fair value

(per share)

 

Non-vested as of December 31, 2021

 

 

4,374,021

 

 

$

10.33

 

Vested

 

 

(328,196

)

 

$

10.34

 

Granted

 

 

450,700

 

 

$

8.61

 

Cancelled

 

 

(70,529

)

 

$

10.39

 

Non-vested as of March 31, 2022

 

 

4,425,996

 

 

$

10.15

 

RSUs compensation expense for the three months ended March 31, 2022 was $6.8 million, which was recorded as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Research and development

 

$

1,020

 

 

$

971

 

Sales and marketing

 

 

783

 

 

 

522

 

General and administrative

 

 

4,956

 

 

 

3,067

 

Total

 

$

6,759

 

 

$

4,560

 

As of March 31, 2022, there was $22.7 million of unrecognized compensation cost related to non-vested RSUs to be recognized over a weighted-average remaining period of 1.26 years.