Company: IBTA
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008240
Chunk: 39

Company: Ibotta, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 39
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 The vesting commencement date for each award was the effectiveness of a registration statement on Form S-1 under the Securities Act. In March 2024, the awards were modified to accelerate the vesting by amending the vesting commencement date to be the grant date. The modification increased the fair value of the options by $3.0 million.As a result of the IPO, the liquidity event condition associated with these stock options was satisfied as of the effectiveness of the registration statement on Form S-1 under the Securities Act on April 17, 2024. Upon the IPO, we recognized an $11.4 million cumulative stock-based compensation expense adjustment using the accelerated attribution method associated with the stock options for which the portion of the service period had been satisfied and vested through achievement of the liquidity event condition upon the IPO. Prior to the IPO, no stock-based compensation expense was recognized for these stock options as the liquidity event condition was not probable.The total fair value of stock options vested during the years ended December 31, 2024, 2023, and 2022 was $16.7 million, $10.0 million, and $6.7 million, respectively.The weighted average grant date fair value for options granted during the years ended December 31, 2024, 2023, and 2022 was $21.40, $9.00, and $10.77, respectively. The fair value of options granted was 

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Table of ContentsIbotta, Inc.Notes to Financial Statements

estimated using the Black Scholes option-pricing model using the following weighted average assumptions:Year ended December 31,202420232022Risk-free interest rate4.07 %4.16 %2.43 %Expected dividend yield — — — Expected volatility75 %71 %66 %Expected term (in years)6.16.05.9Restricted Stock UnitsA summary of RSU activity for the year ended December 31, 2024 is as follows:RSUsWeighted Average Grant Date Fair Value per ShareUnvested and outstanding as of December 31, 2023—$— Granted1,327,23862.36 Vested(181,295)55.14 Forfeited or expired(102,322)65.08 Unvested and outstanding as of December 31, 20241,043,621$63.35 The total fair value of RSUs vested during the year