Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 34

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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. Any RSUs that are forfeited become available for future grants.The following table summarized the Company’s RSU activity during the six months ended June 30, 2025: 

25

Number of RSUsWeighted Average Grant Date Fair Value Per ShareUnvested at December 31, 20243,009,918 $12.0 Granted2,189,950 10.3 Vested(1,551,536)11.7 Forfeited(326,429)11.0 Unvested at June 30, 20253,321,903 $11.1 As of June 30, 2025, unrecognized compensation expense related to RSUs was approximately $30.5 million, which is expected to be recognized over a remaining weighted-average period of 0.8 years. Options to Restricted Shares—Options to restricted shares were granted to certain employees and directors during 2021. See Note 16 to the consolidated financial statements included in the Annual Report on Form 10-K for additional information. The following table summarized the Company’s options to restricted shares activity during the six months ended June 30, 2025:Number of OptionsWeighted Average Exercise PriceWeighted AverageRemaining ContractualTerm (Years)AggregateIntrinsic Value (000’s)Balance, December 31, 202419,948,408 $19.4 6.2$— Granted— — Exercised(13,628)13.9 Forfeited(25,269)34.1 Balance, June 30, 202519,909,511 $19.3 5.7— Vested and exercisable, June 30, 202516,554,033 $19.3 5.7$— At June 30, 2025, unrecognized compensation expense related to options to restricted shares was approximately $8.0 million, which is expected to be recognized over a remaining weighted-average period of 1.2 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 six months ended June 30, 2025, 55,876 shares were issued under the ESPP. As of June 30, 2025, 776,837 shares of Class A Ordinary