Company: WRBY
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001504776-25-000027
Chunk: 30

Company: Warby Parker Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 2.6$31,459 Granted— — Exercised(37)8.90 475 Forfeited(6)3.94 Balance at June 30, 20251,654 $5.60 2.1$27,012 Exercisable and vested as of June 30, 20251,654 $5.60 2.1$27,012 All outstanding options are vested and fully expensed as of June 30, 2025. The Company has not granted stock options since 2021.Restricted Stock Units and Performance Stock UnitsA summary of RSU activity for the six months ended June 30, 2025 is as follows:Number of Restricted Stock UnitsWeighted Average Grant Date Fair ValueUnvested as of December 31, 20242,740 $19.81 Granted1,40723.48 Forfeited(116)16.80 Released(1,051)22.76 Vested and not yet released(60)31.56 Unvested as of June 30, 20252,920 $20.40 The total value of unrecognized stock-based compensation expense related to outstanding RSUs and PSUs granted under the Plans was $46.2 million and $8.5 million as of June 30, 2025, respectively, which is expected to be recognized over a weighted-average period of 1.6 years and 1.3 years, respectively. As of June 30, 2025 there were 938 RSUs that were vested but not yet released, mainly related to the 2021 Founder Grant, as described below.RSUs granted prior to the Company’s direct listing vest upon the satisfaction of both a service and a performance condition, which was satisfied upon the Company’s direct listing on September 29, 2021, and the Company recognizes stock-based compensation expense using the accelerated attribution method as the service conditions are met. RSUs granted after the Company’s direct listing only contain a service condition and are recognized on a straight line basis over the vesting period.2025 Founders GrantIn March 2025, the Company granted 236 PSUs and 236 RSUs for Class A common stock to the Co-CEOs, in the aggregate, under the 2021 Plan (the “2025 Founders Grant”). The RSUs vest in equal monthly installments over a period of three years, beginning on