Company: EVCM
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001853145-25-000009
Chunk: 169

Company: EverCommerce Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 169
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 date, with 25% of the awards vesting on the one-year anniversary, and then in equal quarterly installments for the subsequent three years. The vesting schedule for awards granted to existing employees provides that the awards vest ratably in quarterly installments over a period of four years. The Company records compensation expense for these awards on a straight-line basis, which approximates the service period. Compensation expense of $19.7 million, $12.8 million and $6.0 million related to these awards was recognized in the statements of operations and comprehensive loss for the years ended December 31, 2024, 2023 and 2022, respectively. The unrecognized compensation expense associated with the RSUs at December 31, 2024 was $35.2 million, which is expected to be recognized over a weighted average period of 2.74 years.The summary of time vesting restricted stock units activity for the year ended December 31, 2024 is as follows:Number of UnitsWeighted-AverageGrant Date Fair Value(in thousands except for fair value)Unvested, restricted stock units at January 1, 20243,337 $10.70 Granted3,408 9.92 Vested(1,789)10.72 Forfeited(1,055)10.04 Unvested, restricted stock units at December 31, 20243,901 $10.18 

II-44

   EverCommerce Inc.Notes to Consolidated Financial Statements

2021 Employee Stock Purchase PlanIn connection with the IPO, the Company’s Board adopted the 2021 Employee Stock Purchase Plan. The ESPP is designed to allow eligible employees to purchase shares of our common stock, at periodic intervals, with their accumulated payroll deductions. The aggregate number of shares of common stock that were initially reserved for issuance under the ESPP is equal to the sum of (i) 4,500,000 shares and (ii) an annual increase on the first day of each calendar year beginning in 2022 and ending in and including 2031 equal to the lesser of (A) one percent (1%) of the outstanding shares of our common stock on the last day of the immediately preceding fiscal year and (B) such smaller number of shares as determined by the Board; provided that in no event will more than 60,000,000 shares of our common stock be available for issuance under the ESPP. Compensation expense of $1.0 million,