Company: EVCM
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001853145-25-000009
Chunk: 168

Company: EverCommerce Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 168
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 options.

II-43

   EverCommerce Inc.Notes to Consolidated Financial Statements

The relevant data used to determine the value of the stock options is as follows:December 31,20242023(1)2022Weighted-average risk-free interest rate1.89%N/A1.82%Expected term in years6.1N/A6.1Weighted-average expected volatility50%N/A50%Expected dividends0%N/A0%(1) There were no stock options granted during 2023.A summary of stock option activity for the year ended December 31, 2024 is as follows:Number ofOptionsWeighted-AverageExercise PriceWeighted-AverageRemaining Contractual Term in YearsAggregate Intrinsic Value(in thousands except for exercise price and term in years)Outstanding balance at January 1, 202413,337 $10.03 6.27$22,578 Granted2,300 10.87 Exercised(653)6.30 Cancelled(496)13.19 Outstanding balance at December 31, 202414,488 $10.17 4.97$19,294 Exercisable at December 31, 202411,745 $9.96 4.44$19,072 The weighted-average grant date fair value of time-based stock options granted was $5.31, nil, and $5.76 for the years ended December 31, 2024, 2023 and 2022, respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $2.8 million, $2.2 million and $2.3 million, respectively. Compensation expense of $5.8 million, $11.5 million and $19.3 million was recognized in stock-based compensation for the years ended December 31, 2024, 2023 and 2022, respectively. The unrecognized compensation expense associated with outstanding time-based stock options at December 31, 2024 was $8.7 million, which is expected to be recognized over a weighted average period of 2.85 years.Restricted Stock UnitsDuring the years ended December 31, 2024, 2023 and 2022, the Company issued time vesting RSUs. The vesting schedule for awards granted to newly hired employees provides that the awards vest over a four-year period starting on the grant