Company: MCW
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024533
Chunk: 86

Company: Mister Car Wash, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 86
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,000,000 shares of the Company’s common stock to eligible employees of the Company or, as designated by the Board, employees of a related company. The 2021 ESPP provides for offering periods not to exceed 27 months, and each offering period will include purchase periods. The Company determined that offering 

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periods would commence at approximately the six-month period beginning with an enrollment date and ending with the next exercise date.The 2021 ESPP provides that the number of shares reserved and available for issuance under the 2021 ESPP will automatically increase on January 1 of each calendar year from January 1, 2022 through January 1, 2031 by an amount equal to the lesser of (i) 0.5% of the outstanding number of shares of common stock on the immediately preceding December 31 and (ii) such lesser number of shares of common stock as determined by the Board. Share-Based Payment ValuationThe grant date fair value of Time Vesting Options granted and stock purchase rights granted under the 2021 ESPP are determined using the Black-Scholes option-pricing model.2021 ESPP ValuationThe following table presents, on a weighted-average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant date fair value of stock purchase rights granted under the 2021 ESPP Plan during the period presented as follows:

        Year Ended December 31,

        2024
         
        2023

        Expected volatility
         
        38.34% - 55.99%
         
        36.30% - 55.99%

        Risk-free interest rate
         
        4.44% - 5.41%
         
        4.53% - 5.38%

        Expected term (in years)
         
        0.49 - 0.50
         
        0.49 - 0.50

        Expected dividend yield
         
        None
         
        None
       
      Time Vesting OptionsThe following table presents, on a weighted-average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant date fair value of Time Vesting Options granted under the 2014 Plan and 2021 Plan during the periods presented as follows:

        Year Ended December 31,

        2024
         
        2023
         
        2022

        Expected volatility