Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 156

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 156
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 were as follows: Expected volatility105.4 %Expected term (in years)5.6Risk free interest4.1 %Dividend yield0.0 %As of June 30, 2025, unrecognized compensation expense related to unvested share options was approximately $10.7 million, which is expected to be recognized over a remaining weighted-average period of 1.1 years. Restricted Stock Units (RSUs)—RSUs for new employees generally vest over two years of the employment commencement date with 50% vesting on the twelve-month anniversary of the employment commencement date, and the remaining on a pro-rata basis each quarter over the remaining twelve months. RSUs for existing employees are granted periodically and generally vest quarterly over periods of 1 to 4 years.  Unvested RSUs are forfeited at termination of employment. 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