Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.22.2
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2022
Share-based Payment Arrangement [Abstract]  
Schedule Share Based Compensation Expenses
Stock-based compensation expense is principally related to awards issued to employees pursuant to the Legacy Innovid Stock Option Plan (“Legacy Plan”) and 2021 Innovid Corp. Incentive Plan (“2021 Plan”) and is summarized as follows:

Three months ended June 30,
Six months ended June 30,

2022 2021 2022 2021
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Cost of goods sold
$ 383  $ 15  $ 488  $ 20 
Research and development
920  178  1,399  229 
Sales and marketing
1,529  185  2,109  272 
General and administrative
1,150  1,022  1,549  1,140 
Total
$ 3,982  $ 1,400  $ 5,545  $ 1,661 
Schedule of Share Based Payment Arrangement, Option, Activity
A summary of the employees’ stock option activity under the Legacy Plan and 2021 Plan for the six months ended June 30, 2022 (unaudited) is as follows:

Amount
of
options
Weighted
average
exercise
price
Weighted
average
remaining contractual term
(in years)
Aggregate intrinsic value (in thousands)
Outstanding at beginning of period
11,122,648  $ 0.82  6.87 $ 64,818 
Transfer between employee and consultant 40,118  0.64 
Granted 2,005,785  2.08 
Granted in acquisition 949,893  0.31 
Forfeited (37,703) 1.32 
Expired (12,201) 0.68 
Exercised (1,775,572) 0.35 
Outstanding at end of period
12,292,968  $ 1.05  7.90 $ 7,469 
Exercisable options at end of period
7,243,248  $ 0.60  7.13 $ 7,652 
A summary of the consultants’ stock option activity under the Legacy Plan for the six months ended June 30, 2022 (unaudited) is as follows:

Amount
of
options
Weighted
average
exercise
price
Weighted
average
remaining contractual term
(in years)
Aggregate intrinsic value (in thousands)
Outstanding at beginning of period
179,627  $ 0.31  2.34 $ 1,139 
Transfer between employee and consultant (40,118) 0.64 
Exercised (69,298) 0.30 
Outstanding at end of period
70,211  $ 0.49  4.76 $ 82 
Exercisable options at end of period
62,227  $ 0.46  4.32 $ 75 
Schedule of Share Based Payment Arrangement, Restricted Stock Unit, Activity
A summary of the employees’ RSU activity under the 2021 Plan for the six months ended June 30, 2022 (unaudited) is as follows:

Number of share units
Weighted
average
grant date
fair value
Outstanding at beginning of period
  $  
Granted 7,656,069  6.38 
Forfeited (222,093) 6.60 
Outstanding at end of period
7,433,976  $ 6.37 
A summary of the consultants’ RSU activity under the 2021 Plan for the six months ended June 30, 2022 (unaudited) is as follows:

Number of share units
Weighted
average
grant date
fair value
Outstanding at beginning of period
  $  
Granted 568,526  3.56 
Outstanding at end of period
568,526  $ 3.56