Company: SKLZ
Filing Date: 2025-11-06
Form Type: 10-K
Source: 0001801661-25-000050
Chunk: 190

Company: Skillz Inc.
Filing Date: 2025-11-06
Form: 10-K
Item: Item 8
Chunk 190
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 years ended December 31, 2024 and 2023, the Company repurchased 3.1 million and 2.3 million shares, respectively under the Share Repurchase Program at a weighted average price of $6.24 and $5.62 per share, respectively, for an aggregate value of $32.3 million.  Included in the 3.1 million shares purchased in the year ended December 31, 2024, is a total of 979,848 shares the Company purchased in a private transaction from two shareholders, deemed to be related parties to the Company, at $7.00 per share, a 35% premium to the Company’s share price at the time of the transaction.   

14. Stock-Based Compensation

The following table summarizes stock-based compensation expense recognized for the years ended December 31, 2024 and 2023, as follows: December 31,20242023Cost of revenue$10 $— Research and development841 4,010 Sales and marketing6,467 8,481 General and administrative22,697 31,201 Total stock-based compensation expense$30,015 $43,692 In the years ended December 31, 2024 and 2023, $72 thousand and no amount of stock-based compensation expense was capitalized as internally developed software and included in property and equipment, net.

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TABLE OF CONTENTSSKILLZ INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(Amounts in tables are in thousands, unless otherwise noted)

Equity Incentive PlansSkillz Inc. 2020 Omnibus Incentive PlanIn December 2020, the Board adopted the Skillz Inc. 2020 Omnibus Incentive Plan (the “2020 Plan”). The 2020 Plan became effective upon consummation of the FEAC business combination and succeeds the Company’s legacy equity incentive plans. Under the 2020 Plan, the Company may grant stock-based awards to purchase or directly issue shares of common stock to employees, directors and consultants. Options are granted at a price per share equal to the fair market value of the underlying common stock at the date of grant. Options granted are exercisable over a maximum term of 10 years from the date of grant. RSUs are also granted under the 2020 Plan. These awards typically have a cliff vesting period of one year and continue to vest quarterly thereafter. The 2020 Plan also permits the