Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 55

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 55
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 can contribute the lesser of up to 15% of their eligible compensation or IRS limit. Offering periods are generally 6 months long.As of December 31, 2024, a total of 4,598,941 shares of the Company's common stock were available for future issuance under the ESPP.As of December 31, 2024, there was no unrecognized compensation expense related to the ESPP.Stock-Based Compensation CostsThe following table summarizes the stock-based compensation expense for (i) stock options and restricted stock units granted to employees and non-employee board members and (ii) ESPP shares that were purchased by employees that were recorded in the Company’s consolidated statements of operations and comprehensive loss (in thousands): 

        Year Ended December 31,

        2024

        2023

        2022

        Technology and development
         
        $
        11,710

        $
        9,286

        $
        4,916

        Selling and marketing

        17,968

        11,982

        7,856

        General and administrative

        35,255

        22,458

        17,487

        Total stock-based compensation expense
         
        $
        64,933

        $
        43,726

        $
        30,259

      On November 6, 2023, the Company entered into a Transition Agreement with its previous Chief Financial Officer (Prior CFO). Pursuant to the terms of the Transition Agreement (including the receipt by the Company of a release from the Prior CFO), the Company agreed to modify its Prior CFO's outstanding stock options and restricted stock units to (i) accelerate vesting for nine months from the date of the termination of the Prior CFOs employment with the Company (the Separation Date), and (ii) extend the exercise period of his vested nonqualified stock options from ninety days to one year following the Separation Date. To receive these benefits, the Prior CFO had to remain employed through March 31, 2024. As a result of this modification, the Company recognized additional compensation expense of $1.3 million and $0.7 million during the year ended December 31, 2024 and 2023, respectively.

143

Note 14. Net Income (Loss) per Share Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts):