Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 273

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 273
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31, 20241,707,450 $7.34 3.64$12 Cancelled/forfeited(57,823)$7.06 Balance – June 30, 20251,649,627 $7.35 3.22$2 Options vested and exercisable – June 30, 20251,446,194 $5.74 2.88$2 The total grant date fair value of options that vested during the six months ended June 30, 2025 and 2024 was nominal. The aggregate intrinsic value of options exercised during the six months ended June 30, 2024 was nominal. The aggregate intrinsic value is the difference between the current fair value of the underlying common stock and the exercise price for in-the-money stock options.Market-Based Stock OptionsIn February 2021, the Company granted 203,433 stock options with market and liquidity event-related performance-based vesting criteria with an exercise price of $18.85 per share. 100% of the stock options vest upon valuation of the Company’s stock at a stated price upon occurrence of specified transactions. Fair value was determined using the probability weighted expected term method (“PWERM”), which involves the estimation of future potential outcomes as well as values and probabilities associated with each potential outcome. Two potential scenarios were used in the PWERM that utilized 1) the value of the Company’s common equity, and 2) a Monte Carlo simulation to specifically value the award. The total grant date fair value of the award was determined to be $5.5 million. Since a liquidity event is not deemed probable until such event occurs, no compensation cost related to the performance condition was recognized prior to the Business Combination on June 16, 2022. Subsequently, the Company recorded stock-based compensation expense of $4.6 million for service periods completed prior to the Business Combination. As of June 30, 2025, the market-based vesting criteria had not been met and there is no unrecognized compensation expense related to these market-based stock options. 

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Table of ContentsGrove Collaborative Holdings, Inc.Notes to Condensed Consolidated Financial Statements (continued)(Unaudited)

Restricted Stock Units (RSUs) The following table summarizes the activity for all RSUs under all of the Company’s equity incentive plans for the six months ended June 30, 2025:Number of SharesWeighted–Average Grant Date Fair Value Per ShareUnvested – December 31,