Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 155

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 155
---
,000 warrants expiring in March 2032 with an exercise price of $0.12 per share, 1,047,706 warrants expiring in September 2034 with an exercise price of $0.01 per share, and 1,229,166 warrants expiring in June 2027 (consisting of the Public Warrants) with an exercise price of $138 per share to purchase one Class A Ordinary Share.   

NOTE 12 - SHARE BASED COMPENSATION

Share Options—Granted share options expire at the earlier of termination of employment or ten years from the date of grant. Share options generally vest over four years of the employment commencement date or with 25% vesting on the twelve-month anniversary of the employment commencement date, and the remaining on a pro-rata basis each quarter over the next three years. Any options, which are forfeited or not exercised before expiration, become available for future grants.  The following table summarized the Company’s share option activity during the six months ended June 30, 2025: Number of OptionsWeighted Average Exercise PriceWeighted AverageRemaining ContractualTerm (Years)AggregateIntrinsic Value (000’s)Balance, December 31, 20244,042,901 $7.5 6.7$7,335 Granted2,500 9.7 Exercised(494,281)6.7 Forfeited(84,442)30.6 Balance, June 30, 20253,466,678 $7.0 6.2$49,532 Vested and exercisable, June 30, 20252,674,214 $4.6 5.4$44,788 The weighted-average grant-date fair value of options granted was approximately $9.70 for the six months ended June 30, 2025 and there was no grant of share options during the six months ended June 30, 2024. The aggregate intrinsic value of options exercised was approximately $7.2 million and $2.6 million for the six months ended June 30, 2025 and 2024, respectively. The total grant date fair value of share options vested for the six months ended June 30, 2025 and 2024, was $3.2 million and $13.9 million, respectively.The assumptions used to estimate the fair value of share options granted for the six months ended June 30, 2025