Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 121

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 121
---
, our board of directors approved an amendment to the 2022 Inducement Plan to reserve an additional 2,500,000 shares of our common stock. As of March 31, 2025, there were 2,537,049 shares available under the 2022 Inducement Plan. The following table summarizes the allocation of stock-based compensation in the condensed consolidated statements of operations (in thousands): Three Months EndedMarch 31, 20252024Delivery costs$537 $643 Sales and marketing expense2,078 3,141 Research and development expense2,774 3,950 General and administrative expense3,305 3,251 Total stock-based compensation expense$8,694 $10,985 During the three months ended March 31, 2025 and 2024, we capitalized $1.0 million and $1.3 million of stock-based compensation expense for software development, respectively.

18

Restricted Stock UnitsWe grant restricted stock units ("RSUs") to certain employees and our non-employee directors. The following table summarizes changes in RSUs, inclusive of performance-based RSUs:Shares(in thousands)Weighted-Average Grant Date Fair ValueWeighted-Average Remaining Contractual Term (in years)Unamortized Compensation Costs(in thousands)Unvested — December 31, 20244,507 $13.20 1.20$43,710 Granted2,957 2.46 Vested(918)10.49 Forfeited(229)14.90 Unvested — March 31, 20256,317 $8.51 1.08$37,965 During the three months ended March 31, 2025, we granted 2,956,830 RSUs to employees and non-employee directors, which have vesting periods ranging from vesting immediately to vesting in four years.Subsequent to March 31, 2025, we granted 124,050 RSUs to employees and non-employee directors, which have a two-year vesting period. Unamortized stock-based compensation expense related to these RSUs totaled $0.2 million.Performance-based RSUsIn March 2025, we granted 95,625 PSUs, which will vest at the achievement of specific stock price hurdles for at least 20 consecutive trading days at market close between April 1, 2025 and April 1, 2028;