Company: PGYWW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001883085-25-000050
Chunk: 69

Company: Pagaya Technologies Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 16
Chunk 69
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 an offering of 7,500,000 of its Class A Ordinary Shares, no par value, pursuant to an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc. and Jefferies LLC as representatives of the several underwriters. The proceeds from the offer and sale of the securities are approximately $90.0 million, after deducting the underwriting discount and fees and offering expenses payable by the Company.

NOTE 16 - SHARE BASED COMPENSATION

Share Options—Granted share options expire at the earlier of termination of employment or ten years from the date of grant. Share options generally vest over four years of the employment commencement date or with 25% vesting on the twelve-month anniversary of the employment commencement date, and the remaining on a pro-rata basis each quarter over the next three years. Any options, which are forfeited or not exercised before expiration, become available for future grants.  The following table summarizes the Company’s share option activity during the year ended December 31, 2024, 2023, and 2022: Number of OptionsWeighted Average Exercise PriceWeighted AverageRemaining ContractualTerm (Years)AggregateIntrinsic Value (000’s)Balance, December 31, 20217,271,905$7.4 8.9$184,841 Granted1,403,21127.2 Exercised(1,393,798)1.1 Forfeited(901,533)18.0 Balance, December 31, 20226,379,785$11.6 8.3$19,895 Granted—— Exercised(914,908)4.6 Forfeited(1,213,889)25.6 Balance, December 31, 20234,250,988$7.2 7.2$43,940 Granted711,592 14.8 Exercised(571,989)4.3 Forfeited(347,690)21.7 Balance, December 31, 20244,042,901 7.5 6.77,335 Vested and exercisable, December 31, 20243,120,363$5.3 6.0$13,281 The weighted-average grant date fair value of employee options granted for the year ended December 31, 2024 was $8.9. There was no grant of share