Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 276

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 276
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 liquidity event is not deemed probable until such event occurs, no compensation cost related to the performance condition was recognized prior to the Business Combination on June 16, 2022. Subsequently, the Company recorded stock-based compensation expense of $4.6 million for service periods completed prior to the Business Combination. As of September 30, 2025, the market-based vesting criteria had not been met and there is no unrecognized compensation expense related to these market-based stock options. 

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Table of ContentsGrove Collaborative Holdings, Inc.Notes to Condensed Consolidated Financial Statements (continued)(Unaudited)

Restricted Stock Units (RSUs) The following table summarizes the activity for all RSUs under all of the Company’s equity incentive plans for the nine months ended September 30, 2025:Number of SharesWeighted–Average Grant Date Fair Value Per ShareUnvested – December 31, 20244,657,655 $2.62 Granted3,427,518 $1.52 Vested(2,176,696)$2.81 Forfeited(1,113,249)$2.81 Balance – September 30, 20254,795,228 $1.71 CEO AwardIn August 2023, the Company’s Board of Directors granted its Chief Executive Officer an aggregate of 850,000 Class A common stock RSUs (the “CEO Award”) separate from the Grove Collaborative Holdings, Inc. 2022 Equity and Incentive Plan. A portion of the CEO Award contains market based vesting requirements consisting of four tranches that vest separately upon the Company’s public stock price meeting certain price thresholds. Additionally, the CEO Award also contains a service requirement with 25% of the shares vesting each year from the grant date for four years. The CEO Award has a total aggregate value of $2.0 million. During the three and nine months ended September 30, 2025, the Company recorded $0.1 million and $0.4 million, respectively, of stock-based compensation expense related to the CEO Award. During the three and nine months ended September 30, 2024, the Company recorded $0.2 million and $0.6 million, respectively, of stock-based compensation expense related to the CEO Award.Employee Stock Purchase PlanIn May 2022, the Company’s board of directors adopted the 2022 Employee Stock Purchase Plan (the “ESPP”), which was subsequently approved by