Company: WRBY
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001504776-25-000027
Chunk: 67

Company: Warby Parker Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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 the 2021 Plan will increase annually on the first day of each fiscal year beginning in 2022 and ending in 2031, by the lesser of (i) 5% of the outstanding common stock (on an as converted basis) as of the last day of the immediately preceding fiscal year, or (ii) a smaller amount as agreed by the board of directors. Awards granted under the 2021 Plan generally vest over four years. In addition, the shares authorized under the 2021 Plan will increase, among other things, to the extent that an award (including an award under the Prior Plans) terminates, expires, or lapses for any reason or an award is settled in cash without the delivery of shares.In February 2025, the board of directors approved an annual increase of 6,036 shares to the shares authorized for issuance under the 2021 Plan, and 29,526 shares remained available for future issuance pursuant to new awards as of June 30, 2025.Employee Stock Purchase PlanIn August 2021, the board of directors adopted and the stockholders of the Company approved the 2021 Employee Stock Purchase Plan (the “ESPP”). The shares authorized under the ESPP will increase annually on the first day of each fiscal year beginning in 2022 and ending in 2031, by the lesser of (i) 1% of the shares of the Company’s common stock outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year, or (ii) such number of shares of common stock as determined by the board of directors; provided, however, no more than 16,615 shares of common stock may be issued under the ESPP.In February 2025, the board of directors approved an annual increase of 1,207 shares to the ESPP, and there were 6,216 shares available for future issuance pursuant to ESPP purchases as of June 30, 2025.Stock-based Compensation ExpenseStock-based compensation expense consists of the following:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Cost of goods sold$286 $271 $531 $509 Selling, general, and administrative expenses8,610 13,560 20,698 27,370 Total stock-based compensation expense$8,896 $13,831 $21,229 $27,879 Stock-based compensation expense for the three months ended June