jvid视频

Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.24.3
Stock-Based Compensation
9 Months Ended
Sep. 30, 2024
Stock-Based Compensation
Stock-Based Compensation

(2)听听听Stock-Based Compensation

The Company has granted to certain of its directors, employees and employees of its subsidiaries, restricted stock (鈥淩SAs鈥), restricted stock units (鈥淩SUs鈥) and options to purchase shares of the Company鈥檚 common stock (collectively, "Awards"). The Company measures the cost of employee services received in exchange for an equity classified Award (such as stock options and RSAs) based on the grant-date fair value (鈥淕DFV鈥) of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). The Company measures the cost of employee services received in exchange for a liability classified Award based on the current fair value of the Award, and remeasures the fair value of the Award at each reporting date.

Included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations are $3 million and $10 million of stock-based compensation during the three months ended September听30, 2024 and 2023, respectively, and $22 million and $40 million of stock-based compensation during the nine months ended September听30, 2024 and 2023, respectively.

jvid视频鈥擱SUs

During the nine months ended September 30, 2024 and in connection with their employment agreements, jvid视频 granted 3.7 million performance-based, stock-settled RSUs of Series A jvid视频 common stock (鈥淨RTEA鈥) to our President and Chief Executive Officer and 296 thousand performance-based, stock-settled RSUs of Series B jvid视频 common stock (鈥淨RTEB鈥) to our Chairman of the Board. 听Such RSUs had a GDFV of $1.23 per share and $5.01 per share, respectively, and vest one year from the month of grant, subject to the satisfaction of certain performance objectives.

The following table presents the number of cash-settled RSUs granted by the Company during the nine months ended September听30, 2024:

Nine months ended

September听30, 2024

RSUs Granted (000's)

QRTEA time-based RSUs, subsidiary employees (1)

21,171

QRTEA performance-based RSUs, subsidiary employees (2)

20,409

QRTEA performance-based RSUs, jvid视频 employees (3)

941

(1) Grants mainly vest equally over three years.
(2) Grants mainly vest equally over three years, subject to the satisfaction of certain performance objectives.
(3) Grants mainly vest one year from the month of grant, subject to the satisfaction of certain performance objectives.

For cash-settled RSUs, the liability and compensation expense related to such awards is adjusted at the end of each reporting period based on the closing market price of QRTEA on the last trading day of the quarter.

For awards that are performance-based, performance objectives, which are subjective, are considered in determining the timing and amount of compensation expense recognized. When the satisfaction of the performance objectives becomes probable, the Company records compensation expense. The probability of satisfying the performance objectives is assessed at the end of each reporting period.

jvid视频鈥擮utstanding Awards

The following tables present the number and weighted average exercise price ("WAEP") of the options to purchase jvid视频 common stock granted to certain officers, employees and directors of the Company, as well as the weighted average remaining life and aggregate intrinsic value of the options.

听听听听

听听听听

听听听听

Weighted

听听听听

Aggregate

average

intrinsic

Series听A

remaining

value

(000's)

WAEP

life

(millions)

Options outstanding at January 1, 2024

23,530

$

7.72

Granted

$

Exercised

$

Forfeited/Cancelled

(3,580)

$

10.24

Options outstanding at September听30, 2024

19,950

$

7.27

2.0

years

$

Options exercisable at September听30, 2024

17,755

$

7.11

1.9

years

$

听听听听

听听听听

听听听听

Weighted

听听听听

Aggregate

average

intrinsic

Series听B

remaining

value

(000's)

WAEP

life

(millions)

Options outstanding at January 1, 2024

723

$

12.35

Granted

$

Exercised

$

Forfeited/Cancelled

(316)

$

11.59

Options outstanding at September听30, 2024

407

$

12.95

0.5

years

$

Options exercisable at September听30, 2024

407

$

12.95

0.5

years

$

The following table presents the number and weighted average GDFV of stock-settled RSUs granted to certain officers, employees and directors of the Company.

Weighted

Weighted

Series听A

Average

Series听B

Average

(000's)

GDFV

(000's)

GDFV

RSUs outstanding at January 1, 2024

14,691

$

3.30

353

$

5.51

Granted

3,741

$

1.23

296

$

5.01

Vested

(5,702)

$

3.74

(353)

$

4.85

Forfeited/Cancelled

(2,253)

$

2.34

$

RSUs outstanding at September 30, 2024

10,477

$

2.52

296

$

5.01

As of September听30, 2024, jvid视频 also had 1.1 million QRTEB RSAs outstanding with a GDFV of $13.65 per share.

As of September听30, 2024, the total unrecognized compensation cost related to unvested Awards was approximately $21 million. Such amount will be recognized in the Company's consolidated statements of operations over a weighted average period of approximately 1.9 years.

As of September听30, 2024, jvid视频 reserved for issuance upon exercise of outstanding stock options approximately 20.0 million shares of QRTEA and 0.4 million shares of QRTEB.