Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 147

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 147
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 equity incentive plans for the nine months ended September 30, 2025:Number of SharesWeighted–Average Grant Date Fair Value Per ShareUnvested – December 31, 20244,657,655 $2.62 Granted3,427,518 $1.52 Vested(2,176,696)$2.81 Forfeited(1,113,249)$2.81 Balance – September 30, 20254,795,228 $1.71 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”) separate from the Grove Collaborative Holdings, Inc. 2022 Equity and Incentive 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 three and nine months ended September 30, 2025, the Company recorded $0.1 million and $0.4 million, respectively, of stock-based compensation expense related to the CEO Award. During the three and nine months ended September 30, 2024, the Company recorded $0.2 million and $0.6 million, respectively, of stock-based compensation expense related to the CEO Award.Employee Stock Purchase PlanIn May 2022, the Company’s board of directors adopted the 2022 Employee Stock Purchase Plan (the “ESPP”), which was subsequently approved by the Company’s stockholders. The ESPP went into effect on November 16, 2022. Subject to certain limitations contained therein, the ESPP allows eligible employees to contribute, through payroll deductions, up to 20% of their eligible compensation to purchase the Company’s Class A common stock at a discounted price per share. Stock-Based Compensation ExpenseThe Company recognized a total of $1.1 million and $2.8 million of stock-based compensation expense for the three months ended September 30, 2025 and 2024, respectively and $3.5 million and $9.3 million of stock-based compensation expense for the nine months ended September 30, 2025 and 2024, respectively, primarily related to