Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 30

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 market based vesting requirements consisting of four tranches that vest separately upon the Company’s public stock price meeting certain price thresholds. Additionally, the CEO Award also contains a service requirement with 25% of the shares vesting each year from the grant date for four years. The CEO Award has a total aggregate value of $2.0 million. During the three and six months ended June 30, 2025, the Company recorded $0.1 million and $0.2 million, respectively, of stock-based compensation expense related to the CEO Award. During the three and six months ended June 30, 2024, the Company recorded $0.2 million and $0.4 million, respectively, of stock-based compensation expense related to the CEO Award.Employee Stock Purchase PlanIn May 2022, the Company’s board of directors adopted the 2022 Employee Stock Purchase Plan (the “ESPP”), which was subsequently approved by the Company’s stockholders. The ESPP went into effect on November 16, 2022. Subject to certain limitations contained therein, the ESPP allows eligible employees to contribute, through payroll deductions, up to 20% of their eligible compensation to purchase the Company’s Class A common stock at a discounted price per share. Stock-Based Compensation ExpenseThe Company recognized a total of $1.4 million and $3.4 million of stock-based compensation expense for the three months ended June 30, 2025 and 2024, respectively and $2.3 million and $6.5 million of stock-based compensation expense for the six months ended June 30, 2025 and 2024, respectively, related to stock options and RSUs granted to employees and non-employees. Stock-based compensation expense was predominately recorded in selling, general and administrative expenses in the condensed consolidated statements of operations for each period presented. As of June 30, 2025, the total unrecognized compensation expense related to unvested options and RSUs was $6.5 million, which the Company expects to recognize over an estimated weighted average period of 2.3 years.

11.    Segments

The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The Company has determined that it operates in one operating segment as it only reports operating results on an aggregate basis to the CODM. Segment revenues are described in Note 2, Significant Accounting Policies. All company assets are located within the United States and all revenues are generated within the United States. All