Company: SKLZ
Filing Date: 2025-11-06
Form Type: 10-K
Source: 0001801661-25-000050
Chunk: 191

Company: Skillz Inc.
Filing Date: 2025-11-06
Form: 10-K
Item: Item 8
Chunk 191
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 Company to grant stock-based awards with company-performance or market-performance conditions. In connection with the closing of the FEAC business combination, the Company entered into certain option agreements that include vesting conditions contingent upon the attainment of volume weighted average price targets related to the Company’s Class A common stock on the NYSE.As of December 31, 2024, the 2020 Plan permitted the Company to deliver up to 6,465,771 shares of common stock pursuant to awards issued under the 2020 Plan, consisting of 750,000 shares which may be of Class A and/or Class B common stock, 4,597,406 shares of Class A common stock and 1,118,365 shares of Class B common stock. The total number of shares of Class A common stock and Class B common stock that will be reserved and that may be issued under the 2020 Plan will automatically increase on the first trading day of each calendar year, beginning with calendar year 2021, by a number of shares equal to 5% of the total number of shares of Class A common stock and Class B common stock, respectively, outstanding on the last day of the prior calendar year.Stock Options and Restricted Stock Units (“RSUs”)The following represents the activities for stock options and RSUs during the year ended December 31, 2024 (in thousands, except for share, per share, and contractual term data):Options OutstandingRestricted Stock UnitsNumber of Shares Available for Issuance Under the PlanNumber of Shares Outstanding Under the PlanWeighted- Average Exercise PriceWeighted- Average Remaining Contractual Term (Years)Aggregate Intrinsic ValueNumber of Plan shares outstandingWeighted-Average Grant Date Fair Value per shareBalance at December 31, 20232,152,407 701,833 $303.73 6.95$91 2,497,773 $14.93 Additional shares authorized1,074,898 — — Granted(662,088)— — 662,088 5.86 Exercised/Vested— (1,787)1.28 (647,873)18.04 Cancelled/Forfeited/Expired760,358 (18,317)9.07 (742,041)13.78 Balance at December 31, 20243,325,575 681,729 $312.44 5.96$30 1,769,947 $10.52