Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 408

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 5
Chunk 408
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 expire within ten years from the date of grant. Any options that are canceled or forfeited before expiration become available for future grants. The following table summarizes the stock option activity since December 31, 2023: 

        Number ofShares

        Weighted-Average ExercisePrice Per Share

        Weighted-AverageRemainingContractualTerm(In Years)

        Aggregate IntrinsicValue(In Thousands)

        Outstanding as of December 31, 2023

        8,107,861

        $
        7.17

        5.69

        $
        136,975

        Granted

        —

        —

        Exercised

        (1,799,325
        )

        3.12

        Cancelled

        (109,167
        )

        28.27

        Outstanding as of December 31, 2024

        6,199,369

        $
        7.98

        5.02

        $
        86,213

        Exercisable as of December 31, 2024

        5,903,732

        7.44

        4.95

        $
        84,148

        Vested or expected to vest as of December 31, 2024

        289,591

        18.70

        6.44

        $
        2,020

      The aggregate intrinsic value was calculated as the difference between exercise price of the underlying awards and the closing price of the Company’s common stock at December 31, 2024. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2024, 2023 and 2022 was $33.8 million, $89.8 million and $56.1 million, respectively. The Company did not grant any options to purchase shares of common stock during the year ended December 31, 2024 and 2023. The weighted average grant-date fair value of stock options granted during the years ended December 31, 2022 was $30.08. The fair value of each option award was estimated on the date of grant using the Black-Scholes option-pricing model. The table below quantifies the weighted average of the most significant inputs to determine the fair value of stock options granted during the years ended December 31, 2022. 

        Year Ended December 31, 2022

        Risk-free interest rate