Company: PGYWW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001883085-25-000050
Chunk: 71

Company: Pagaya Technologies Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 16
Chunk 71
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 Historically, the Company has not paid cash dividends and has no foreseeable plans to pay cash dividends in the future. The assumptions used to estimate the fair value of share options granted for the year ended December 31, 2024, 2023 and 2022 were as follows: 202420232022Expected volatility92.07% - 96.77%— 46.91% - 529.23%Expected term (in years)5.66 - 6.25— 5.00 - 6.19Risk free interest3.88% - 3.89%— 1.68% - 3.65%Dividend yield0.00— 0.00At December 31, 2024, unrecognized compensation expense related to unvested share options was approximately $19.7 million, which is expected to be recognized over a remaining weighted-average period of 1.07 years. Restricted Stock Units (RSUs)—RSUs generally vest over two years of the employment commencement date with 50% vesting on the twelve-month anniversary of the employment commencement date, and the remaining on a pro-rata basis each quarter over the remaining twelve months. RSUs granted are forfeited at termination of employment. Any RSUs, which are forfeited or not exercised before expiration, become available for future grants.  

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Table of Contents

The following table summarizes the Company’s RSU activity during the year ended December 31, 2024, 2023 and 2022: Number of RSUsWeighted Average Grant Date Fair Value Per ShareUnvested at December 31, 2021— $— Granted494,698 64.1 Vested(10,867)93.7 Forfeited(4,333)71.9 Unvested at December 31, 2022479,498 $63.3 Granted4,497,281 13.0 Vested(1,189,136)18.8 Forfeited(753,440)25.7 Unvested at December 31, 20233,034,203 $15.6 Granted3,344,080 10.8 Vested(2,371,735)13.6 Forfeited(996,630)15.0 Unvested at December 31, 20243,009,918 $12.0