Company: GROVW
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001628280-25-013839
Chunk: 231

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 8
Chunk 231
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 value of the Company’s common equity, and 2) a Monte Carlo simulation to specifically value the award. The total grant date fair value of the award was determined to be $5.5 million. Since a liquidity event is not deemed probable until such event occurs, no compensation cost related to the performance condition was recognized prior to the Business Combination on June 16, 2022. Subsequently, the Company recorded stock-based compensation expense of $4.6 million for service periods completed prior to the Business Combination. As of December 31, 2024, the market-based vesting criteria had not been met.

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Table of ContentsGrove Collaborative Holdings, Inc.Notes to Consolidated Financial Statements (continued)

Restricted Stock Units (RSUs)The following table summarizes the activity for all RSUs under all of the Company’s equity incentive plans for the year ended December 31, 2024:Number of shares Weighted–Average Grant Date Fair Value Per ShareUnvested – December 31, 20234,712,855 $4.16 Granted3,433,985 1.55 Vested(2,495,751)3.97 Forfeited(993,434)2.80 Balance – December 31, 20244,657,655 2.62 CEO AwardIn August 2023, the Company’s Board of Directors granted its Chief Executive Officer an aggregate of 850,000 Class A Common Stock RSUs (the “CEO Award”) under the 2022 Plan. A portion of the CEO Award contains 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 years ended December 31, 2024 and 2023, the Company recorded $0.5 million and $0.3 million of stock-based compensation expense related to the CEO Award.Executive Chair Award In February 2024, the Company’s Board of directors granted its Executive Chairman of the board of directors 286,000 shares of market-based restricted stock units (the “Executive Chair Award”). The Executive Chair Award consists of the four tranches that vest separately upon the Company’s public stock price meeting certain price thresholds. Additionally, the Executive Chair Award also contains a service requirement