Company: IBTA
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008240
Chunk: 38

Company: Ibotta, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 38
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4,633,636 shares. The number of shares available for issuance will automatically increase on the first day of each fiscal year of the Company, beginning on January 1, 2025, in an amount equal to the least of (i) 5,400,000 shares, (ii) 5% of the outstanding shares of all classes of the Company’s common stock on the last day of the immediately preceding fiscal year, or (iii) such number of shares determined by the Administrator no later than the last day of the immediately preceding fiscal year.

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Table of ContentsIbotta, Inc.Notes to Financial Statements

Stock OptionsThe Company’s option awards typically vest over a three- or four-year period and expire 10 years from the grant date. The exercise price of the option awards is typically equal to the fair value of the Company’s common stock at the date of grant. As defined in the individual option award agreements, certain option awards provide for accelerated vesting if there is a sale of the Company and the outlined employees are terminated in a specific time period thereafter.A summary of option activity for the year ended December 31, 2024 is as follows: OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)Options outstanding as of December 31, 20234,516,612$14.34 7.4$75,915 Granted184,14831.15 Exercised(1,056,425)12.81 Forfeited or expired(364,852)16.97 Options outstanding as of end of period3,279,483$15.49 6.5$162,641 Options vested and exercisable as of December 31, 20242,341,113$14.10 5.9$119,361 The total intrinsic value of stock options exercised during the years ended December 31, 2024, 2023, and 2022 was $54.6 million, $2.8 million, and $2.0 million, respectively.In July 2021, the Company granted stock option awards to our named executive officers in anticipation of an initial public offering in 2021. The stock options were scheduled to vest in equal monthly installments over the four-year period after the vesting commencement date (or in the case of one of the two awards granted to the CEO, the one-year anniversary of the vesting commencement date).