Company: IBTA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-051720
Chunk: 102

Company: Ibotta, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 102
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 of RSU activity for the nine months ended September 30, 2025, is as follows:RSUsWeighted Average Grant Date Fair Value per ShareUnvested and outstanding as of December 31, 20241,043,621$63.35 Granted1,983,69255.06 Vested(377,223)65.01 Forfeited or expired(408,413)65.15 Unvested and outstanding as of September 30, 20252,241,677$55.41 As of September 30, 2025, unrecognized stock-based compensation expense was $102.2 million for unvested RSUs and is expected to be recognized over a weighted average period of 3.2 years.CEO Performance-Based RSUOn April 17, 2024, the Company issued a performance-based RSU award to the CEO (CEO PRSU). The CEO PRSU awards a target number of RSUs to the CEO, totaling 125,216 RSUs, that become eligible to vest based on the Company’s total shareholder return (TSR) relative to the TSRs of the companies in the Russell 2000 Index during the performance period from the grant date through December 31, 2026. A percentage of the target number of RSUs, ranging from zero to 200%, will vest based on the percentile rank of the Company's TSR relative to that of the other companies in the index over the performance period. The award is subject to the CEO’s continued service to the Company, and the TSR condition is a market condition. In addition, the CEO PRSU is subject to acceleration upon a change in control. We recognized stock-based compensation expense related to the CEO PRSU of $1.3 million and $3.9 million during the three and nine months ended September 30, 2025, respectively, and $1.3 million and $2.4 million during the three and nine months ended September 30, 2024, respectively.Employee Stock Purchase Plan (ESPP)In April 2024, the Company’s board of directors approved the 2024 ESPP, which became effective in connection with the IPO. The ESPP allows eligible employees to purchase shares of the Company’s Class A common stock at a discounted price per share through payroll deductions over consecutive offering periods that are approximately six months in length. Each offering period has a single purchase period of the same duration. The offering periods will generally