Company: WRBY
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001504776-25-000019
Chunk: 59

Company: Warby Parker Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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Three Months Ended March 31,20252024Income tax provision$1,454 $108 Effective tax rate29.5 %(4.2)%The Company’s effective income tax rate for the three months ended March 31, 2025 and 2024 differed from the U.S. statutory rate of 21% primarily due to the valuation allowance, non-deductible executive compensation, stock-based compensation, differences in tax rates in state and foreign jurisdictions, and other permanent items.

6. Stockholders’ Equity

Common StockAs of March 31, 2025, the Company’s Twelfth Amended and Restated Certificate of Incorporation authorizes the issuance of up to 1,050,000 shares of common stock, par value of $0.0001 per share, of which 750,000 shares are designated Class A common stock, 150,000 shares are designated Class B common stock, and 150,000 shares are designated Class C common stock. Class A common stock receives one vote per share, Class B common stock receives ten votes per share, and Class C common stock has no voting rights except as required by Delaware law. Common stock is not redeemable at the option of the holder.As of March 31, 2025, outstanding shares of common stock as well as shares of common stock attributable to equity awards are as follows:Class AClass BClass CCommon stock outstanding104,375 16,904 — Stock options outstanding249 1,422 — Restricted stock units (“RSUs”) outstanding2,921 1,221 — Performance stock units (“PSUs”) outstanding— 4,633 — Employee stock plans – available36,003 — — Shares of Class A common stock issuable upon conversion of all outstanding Class B common stock, stock options, RSUs, and PSUs24,180 — — Total common stock – outstanding or issuable167,728 24,180 — Shares authorized750,000 150,000 150,000 Common stock authorized and available for future issuance582,272 125,820 150,000 Preferred StockAs of March 31, 2025, 50,000 preferred shares were authorized and no shares were outstanding.

7. Stock-Based Compensation

Plans and AwardsThe Company’s eligible employees participate in various stock-based compensation plans, which are provided by the Company directly.In August 2021