Company: WRBY
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001504776-25-000019
Chunk: 27

Company: Warby Parker Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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036 shares to the shares authorized for issuance under the 2021 Plan, and 29,677 shares remained available for future issuance pursuant to new awards as of March 31, 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 6,326 shares available for future issuance pursuant to ESPP purchases as of March 31, 2025.Stock-based Compensation ExpenseStock-based compensation expense consists of the following:Three Months Ended March 31,20252024Cost of goods sold$245 $238 Selling, general, and administrative expenses12,088 13,810 Total stock-based compensation expense$12,333 $14,048 Stock-based compensation expense for the three months ended March 31, 2025 primarily consists of $4.5 million related to bonuses that were settled in equity, $4.1 million from RSUs, $2.8 million from the Founders Grants, as described below, and $0.7 million from the issuance of stock to charitable donor advised funds. Stock-based compensation expense for the three months ended March 31, 2024 primarily consists of $7.3 million from the 2021 Founders Grant, $5.0 million from RSUs, and $0.7 million from the issuance of stock to charitable donor advised funds.

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Table of ContentsWarby Parker Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements (Unaudited)(Amounts in thousands, except per share data)

Stock OptionsA summary of stock option activity for the three months ended March 31, 2025 is as follows:Number ofStock OptionsWeightedAverageExercisePrice