Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 53

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 53
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        —

        —

        Exercised

        (1,799,325
        )

        3.12

        Cancelled

        (109,167
        )

        28.27

        Outstanding as of December 31, 2024

        6,199,369

        $
        7.98

        5.02

        $
        86,213

        Exercisable as of December 31, 2024

        5,903,732

        7.44

        4.95

        $
        84,148

        Vested or expected to vest as of December 31, 2024

        289,591

        18.70

        6.44

        $
        2,020

      The aggregate intrinsic value was calculated as the difference between exercise price of the underlying awards and the closing price of the Company’s common stock at December 31, 2024. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2024, 2023 and 2022 was $33.8 million, $89.8 million and $56.1 million, respectively. The Company did not grant any options to purchase shares of common stock during the year ended December 31, 2024 and 2023. The weighted average grant-date fair value of stock options granted during the years ended December 31, 2022 was $30.08. The fair value of each option award was estimated on the date of grant using the Black-Scholes option-pricing model. The table below quantifies the weighted average of the most significant inputs to determine the fair value of stock options granted during the years ended December 31, 2022. 

        Year Ended December 31, 2022

        Risk-free interest rate

        2.16
        %

        Expected dividend yield

        0
        %

        Expected volatility

        47.4
        %

        Expected terms (in years)

        6

      The Company received cash proceeds from the exercise of options to purchase common stock of $5.6 million, $10.4 million and $4.7 million during the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, there was $2.6 million of total unrecognized expense related to unvested