Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.22.2.2
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 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 September 30,
Nine months ended September 30,

2022 2021 2022 2021
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Cost of goods sold
$ 307  $ 14  $ 795  $ 34 
Research and development
1,039  90  2,438  319 
Sales and marketing
1,391  128  3,500  400 
General and administrative
1,546  145  3,095  1,285 
Total
$ 4,283  $ 377  $ 9,828  $ 2,038 
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 nine months ended September 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 2,041,956  2.09 
Granted in acquisition 949,893  0.31 
Forfeited (118,837) 1.10 
Expired (18,653) 0.90 
Exercised (2,845,702) 0.28 
Outstanding at end of period
11,171,423  $ 1.14  7.62 $ 17,515 
Exercisable options at end of period
6,587,903  $ 0.71  6.76 $ 13,202 
A summary of the consultants’ stock option activity under the Legacy Plan for the nine months ended September 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 
Forfeited (460) 2.81 
Exercised (69,298) 0.30 
Outstanding at end of period
69,751  $ 0.48  4.45 $ 156 
Exercisable options at end of period
62,227  $ 0.46  4.12 $ 144 
Schedule of Share Based Payment Arrangement, Restricted Stock Unit, Activity
A summary of the employees’ RSU activity under the 2021 Plan for the nine months ended September 30, 2022 (unaudited) is as follows:

Number of share units
Weighted
average
grant date
fair value
Outstanding at beginning of period
   
Granted 8,446,838  5.98 
Released (10,669) 6.60 
Forfeited (778,388) 6.46 
Outstanding at end of period
7,657,781  $ 5.93 
A summary of the consultants’ RSU activity under the 2021 Plan for the nine months ended September 30, 2022 (unaudited) is as follows:

Number of share units
Weighted
average
grant date
fair value
Outstanding at beginning of period
   
Granted 176,151  6.52 
Forfeited (5,387) 6.60 
Outstanding at end of period
170,764  $ 6.51