Company: WRBY
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001504776-25-000033
Chunk: 30

Company: Warby Parker Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 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 6,216 shares available for future issuance pursuant to ESPP purchases as of September 30, 2025.Stock-based Compensation ExpenseStock-based compensation expense consists of the following:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Cost of goods sold$263 $262 $794 $770 Selling, general, and administrative expenses6,768 10,524 27,466 37,894 Total stock-based compensation expense$7,031 $10,786 $28,260 $38,664 Stock-based compensation expense for the three months ended September 30, 2025 primarily consists of $4.7 million from RSU awards and $2.0 million from the 2021 Founders Grants and 2025 Founders Grants (collectively, the “Founders Grants”), as described below. Stock-based compensation expense for the three months ended September 30, 2024 primarily consists of $5.0 million from RSU awards and $4.9 million from the 2021 Founders Grant.Stock-based compensation expense for the nine months ended September 30, 2025 primarily consists of $19.6 million from RSU awards and $7.1 million from the Founders Grants. Stock-based compensation expense for the nine months ended September 30, 2024 primarily consists of $18.4 million from the 2021 Founders Grant and $16.6 million from RSU awards.

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Table of ContentsWarby Parker Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements