Company: PGYWW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001883085-25-000050
Chunk: 74

Company: Pagaya Technologies Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 16
Chunk 74
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,940 $19.68 8.2$— Granted— — Exercised(10,332)15.36 Forfeited(161,528)36.12 Balance, December 31, 202320,046,080 $19.44 7.2$— Granted— — Exercised(14,858)12.24 Forfeited(82,814)39.50 Balance, December 31, 202419,948,408 19.35 Vested and exercisable, December 31, 202416,537,080 $19.25 6.2$— At December 31, 2024, unrecognized compensation expense related to options to restricted shares was approximately $11.2 million, which is expected to be recognized over a remaining weighted-average period of 1.31 years. Employee Stock Purchase Plan—The Employee Stock Purchase Plan (“ESPP”) allows eligible employees to purchase shares of our Class A Ordinary Shares at a discounted price, normally through payroll deductions, subject to the terms of the ESPP and applicable law. During the year ended December 31, 2024, 59,145 shares were issued under the ESPP. As of December 31, 2024, 0.8 million shares of Class A Ordinary Shares were reserved for issuance under the ESPP. Compensation expense related to the ESPP was $0.6 million for the year ended December 31, 2024. Share-Based Compensation ExpenseThe following table presents the components and classification of share-based compensation for the year ended December 31, 2024, 2023 and 2022 (in thousands): 202420232022Technology, data and product development$8,695 $12,375 $81,337 Selling and marketing14,666 13,216 58,377 General and administrative38,136 45,464 101,975 Total$61,497 $71,055 $241,689 

Share-based compensation for the year ended December 31, 2022 included compensation of $172.2 million related to the vesting of certain performance-based options, which was included in technology, data and product development, sales and marking, and general and administrative expenses. 

F-40

Table of Contents

NOTE 17 - INCOME TAXES

Corporate Income Tax - Ordinary taxable income in Israel