Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.2.2
Stock-Based Compensation
 9 Months Ended
Sep. 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 stock units ("RSUs") and restricted common stock awards ("RSAs") activity for the nine months ended September 30, 2022 is as follows:

Number of RSUs Average Grant-Date Fair Value Number of RSAs Average Grant-Date Fair Value
Unvested at December 31, 2021
 2,395,789 $ 9.73 5,479,451 $ 1.80
Granted 9,117,579 $ 5.87 — $ —
Forfeited (211,578) $ 10.13 — $ —
Vested, Settled (1,128,825) $ 7.09 (594,081) $ 2.51
Vested, Unsettled 700,058 $ 5.67 — $ —
Unvested and outstanding at September 30, 2022
 10,873,023 $ 6.43 4,885,370 $ 1.71

The total expense value of RSUs for the three and nine months ended September 30, 2022 was $9,066 thousand and $30,017 thousand. There was no expense for RSUs for the three and nine months ended September 30, 2021. As of September 30, 2022, the total compensation cost related to unvested RSUs not yet recognized is $40,767 thousand and is expected to be recognized over a weighted average period of 2.48 years.

The total expense of RSAs for the three and nine months ended September 30, 2022 was $1,841 thousand and $3,599 thousand. As of September 30, 2022, the total compensation cost related to unvested RSAs not yet recognized is $3,237 thousand and is expected to be recognized over a weighted average period of 1.81 years.