Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 36

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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:Number ofOptionsWeighted-AverageExercise PriceWeighted-AverageRemainingTerm(Years)AggregateIntrinsicValue(in thousands)Outstanding at December 31, 20242,750,078 $18.25 2.2$— Forfeited / cancelled(9,114)$18.25 Outstanding and expected to vest at June 30, 20252,740,964 $18.25 1.6$— Vested and exercisable at June 30, 20252,740,964 $18.25 1.6$— During the six months ended June 30, 2025 and 2024, no options were granted. Certain employees received restricted stock unit equivalents (“RSU equivalents”) which upon vesting are settled for a cash payment equal to the difference between the Company’s stock price on the vesting date less the base price specified at the time of the grant. Due to the cash settlement feature, these awards are liability classified awards and require initial and subsequent measurement at fair value. As of June 30, 2025 and December 31, 2024, the total recognized liability for the unvested awards was not material and the number of awards was not material.

17

Unvested Class B Common StockThe Company’s unvested Class B common stock resulted from the corporate reorganization in March 2021 and is not part of the 2021 Equity Incentive Plan. Dividends declared on unvested Class B common stock are subject to vesting and forfeited if the underlying stock does not vest. Activity related to Class B common stock subject to future vesting for the six months ended June 30, 2025 is as follows:Number ofUnvested SharesWeighted-AverageGrant Date Fair Value (per share)Outstanding at December 31, 2024113,578 $20.00 Vested(97,170)$20.00 Outstanding at June 30, 202516,408 $20.00 Options to Purchase Class B Common StockThe Company’s options to purchase Class B common stock resulted from the corporate reorganization in March 2021 and are not part of the 2021 Equity Incentive Plan. A summary of the Company stock option activity for the options to purchase shares of Class B common stock is as follows:Number ofOptionsWeighted-AverageExercise PriceWeighted-AverageRemainingTerm(Years)AggregateIntrinsicValue(in