Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.2.2
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Restricted Common Stock Awards and Restricted Stock Units

A summary of the restricted common stock awards ("RSAs") and restricted stock units ("RSUs") activity for the six months ended June 30, 2022 is as follows:

Number of RSAs Average Grant-Date Fair Value Number of RSUs Average Grant-Date Fair Value
Unvested at December 31, 2021
 5,479,451 $ 1.80 $ 2,395,789 $ 9.73
Granted — $ — $ 8,300,343 $ 5.96
Forfeited — $ — $ (121,145) $ 9.77
Vested (208,682) $ 2.66 $ (267,033) $ 9.26
Unvested and outstanding at June 30, 2022
 5,270,769 $ 1.77 10,307,954 $ 6.71

The total expense of RSAs for the three and six months ended June 30, 2022 was $841 thousand and $1,758 thousand. As of June 30, 2022, the total compensation cost related to unvested RSAs not yet recognized is $4,462 thousand. Expense for unvested RSAs not yet recognized is expected to be recognized over a weighted average period of 1.97 years.

The total expense value of RSUs for the three and six months ended June 30, 2022 was $10,855 thousand and $20,951 thousand. There was no expense for RSUs for the three and six months ended June 30, 2021. As of June 30, 2022, the total compensation cost related to unvested RSUs not yet recognized is $47,617 thousand. Expense for unvested RSUs not yet recognized is expected to be recognized over a weighted average period of 2.61 years.