Company: CRCL
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001193125-25-126208
Chunk: 359

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 359
---
 27.81 |
| RSUs forfeited                                           |     |            |   (423 | ) |     |                    | 30.23 |
| Balance as of March 31, 2025                             |     |            | 25,330 |   |     | $                  | 30.93 |

As of March 31, 2025, unrecognized stock-based compensation cost related to outstanding unvested RSUs that are expected to vest was $664.0 million, which is expected to be recognized over a weighted-average period of 0.8 years. Shares issued for business combinations The Company has issued the following common shares for the purchase of common shares subject to forfeiture based on certain service conditions in connection with its acquisitions. These shares were issued to the employees of the acquired businesses and are valued based on the fair value of the Company’s common shares at the acquisition date. The Company records share-based compensation expenses over the requisite service period, with an increase to additional paid-incapital. The shares issued for business combinations are subject to forfeiture based on service conditions through various dates over a four year period from their respective acquisition dates.

| Table 17.4. Summary of Shares Issued for Business Combinations Activities |     | Number of  
 Shares (in 
 thousands) |       |   |     | Weighted-          
 Average Grant Date 
 Fair Value         |       |
|:--------------------------------------------------------------------------|:----|:-----------|------:|:--|:----|:-------------------|------:|
| Balance as of December 31, 2024                                           |     |            |   548 |   |     | $                  | 47.82 |
| Shares issued                                                             |     |            | 1,473 |   |     |                    | 31.16 |
| Shares forfeited                                                          |     |            |    (6 | ) |     |                    | 47.82 |
| Balance as of March 31, 2025                                              |     |            | 2,015 |   |     | $                  | 35.64 |

For the three months ended March 31, 2025 and 2024, post-combination stock-based compensation cost included in the stock-based compensation expense was $7.2 million and $10.4 million, respectively. As of March 31, 2025, unrecognized stock-based compensation cost related to outstanding unvested shares and warrants issued for business combinations that are expected to vest was $56.3 million