Annual report [Section 13 and 15(d), not S-K Item 405]

Stock-Based Compensation (Tables)

v3.25.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Stock-Based Compensation  
Schedule of stock option activity

Stock Option

    

Weighted 

Average 

Weighted 

Remaining 

Number of 

Average 

Contractual Life

Aggregate 

    

Options

    

Exercise Price

    

 (Years)

    

Intrinsic Value

Outstanding as of January 1, 2024

 

9,992

$

17.01

 

6.91

$

197,598

Options granted

 

 

 

Options exercised

 

(531)

6.25

 

 

Options forfeited

 

(90)

30.38

 

 

Outstanding as of December 31, 2024

 

9,371

$

17.49

 

5.93

$

57,646

Options expected to vest as of December 31, 2024

 

1,503

$

26.81

 

7.72

$

1

Options exercisable as of December 31, 2024

 

7,822

$

15.65

 

5.57

$

57,645

Schedule of valuation assumptions

    

2024

    

2023

    

2022

Risk‑free interest rate (percentage)

 

 

3.6

 

2.0 - 3.7

Expected term (years)

 

 

6.1

 

6.1

Expected dividend yield (percentage)

 

 

 

Expected volatility (percentage)

 

 

46.5

 

42.8 - 46.0

Schedule of restricted stock activity

RSUs

Weighted 

Average Grant 

Number of 

Date Fair 

    

Shares

    

Value

Outstanding as of January 1, 2024

4,720

$

28.03

Granted

3,402

30.10

Vested

(2,197)

29.16

Forfeited

(440)

29.86

Outstanding as of December 31, 2024

 

5,485

$

28.71

Schedule of PSUs activity

PSUs

Weighted 

Average Grant 

Number of 

Date Fair 

    

Shares (1)

    

Value

Outstanding as of January 1, 2024

480

$

41.31

Granted

186

41.28

Vested

Forfeited

(11)

37.92

Performance adjustments

(263)

38.92

Outstanding as of December 31, 2024

 

392

$

43.00

(1) For awards for which the performance period is complete, the number of outstanding PSUs is based on the actual shares that will vest upon completion of the service period. For awards for which the performance period is not yet complete, the number of outstanding PSUs is based on the participants earning 100% of their target PSUs.

Schedule of stock-based compensation expense

Year Ended December 31, 

(in thousands)

    

2024

    

2023

    

2022

Product development

$

34,802

$

22,955

$

15,030

Sales, marketing and customer support

 

27,804

 

18,299

 

14,265

General and administrative

 

28,052

 

17,990

 

13,012

Total stock‑based compensation

$

90,658

$

59,244

$

42,307

Performance share units (PSUs)  
Stock-Based Compensation  
Schedule of valuation assumptions

    

2024

    

2023

Risk‑free interest rate (percentage)

 

3.9 - 4.1

 

3.9 - 4.1

Expected dividend yield (percentage)

 

 

Expected volatility (percentage)

 

46.7

 

46.7