Company: WRBY
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001504776-25-000027
Chunk: 29

Company: Warby Parker Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 in 2031, by the lesser of (i) 1% of the shares of the Company’s common stock outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year, or (ii) such number of shares of common stock as determined by the board of directors; provided, however, no more than 16,615 shares of common stock may be issued under the ESPP.In February 2025, the board of directors approved an annual increase of 1,207 shares to the ESPP, and there were 6,216 shares available for future issuance pursuant to ESPP purchases as of June 30, 2025.Stock-based Compensation ExpenseStock-based compensation expense consists of the following:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Cost of goods sold$286 $271 $531 $509 Selling, general, and administrative expenses8,610 13,560 20,698 27,370 Total stock-based compensation expense$8,896 $13,831 $21,229 $27,879 Stock-based compensation expense for the three months ended June 30, 2025 primarily consists of $6.3 million from RSU awards and $2.3 million from the Founders Grants, as described below. Stock-based compensation expense for the three months ended June 30, 2024 primarily consists of $6.6 million from RSU awards and $6.2 million from the Founders Grants.Stock-based compensation expense for the six months ended June 30, 2025 primarily consists of $14.9 million from RSU awards and $5.1 million from the 2021 Founders Grant. Stock-based compensation expense for the six months ended June 30, 2024 primarily consists of $13.5 million from the 2021 Founders Grant and $11.6 million from RSU awards.

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Table of ContentsWarby Parker Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements (Unaudited)(Amounts in thousands, except per share data)

Stock OptionsA summary of stock option activity for the six months ended June 30, 2025 is as follows:Number ofStock OptionsWeightedAverageExercisePriceWeightedaveragecontractualterm (years)AggregateintrinsicvalueBalance at December 31, 20241,697 $5.67