Company: CRCT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001828962-25-000146
Chunk: 69

Company: Cricut, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 initial and subsequent measurement at fair value. As of June 30, 2025 and December 31, 2024, the total recognized liability for the unvested awards was not material and the number of awards was not material.

17

Unvested Class B Common StockThe Company’s unvested Class B common stock resulted from the corporate reorganization in March 2021 and is not part of the 2021 Equity Incentive Plan. Dividends declared on unvested Class B common stock are subject to vesting and forfeited if the underlying stock does not vest. Activity related to Class B common stock subject to future vesting for the six months ended June 30, 2025 is as follows:Number ofUnvested SharesWeighted-AverageGrant Date Fair Value (per share)Outstanding at December 31, 2024113,578 $20.00 Vested(97,170)$20.00 Outstanding at June 30, 202516,408 $20.00 Options to Purchase Class B Common StockThe Company’s options to purchase Class B common stock resulted from the corporate reorganization in March 2021 and are not part of the 2021 Equity Incentive Plan. A summary of the Company stock option activity for the options to purchase shares of Class B common stock is as follows:Number ofOptionsWeighted-AverageExercise PriceWeighted-AverageRemainingTerm(Years)AggregateIntrinsicValue(in thousands)Outstanding at December 31, 2024197,425 $7.29 0.9$— Forfeited / cancelled(10,000)$7.29 Outstanding at June 30, 2025187,425 $7.29 0.4$— Vested and exercisable at June 30, 2025187,425 $7.29 0.4$— 2021 Employee Stock Purchase PlanIn March 2021, the Company’s 2021 Employee Stock Purchase Plan (“2021 ESPP”) became effective. Subject to any limitations contained therein, the 2021 ESPP allows eligible employees to contribute, through payroll deductions, up to 15% of their eligible compensation to purchase the Company’s Class A common stock at a discounted price per share. As of June 30, 2025, 10,602,602 shares of our Class A common stock were available for sale under the 2021 ESPP.No offerings have