猫咪社区

Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.1
Stock-Based Compensation
3 Months Ended
Mar. 31, 2022
Stock-Based Compensation

(3)听听听Stock-Based Compensation

猫咪社区 grants, to certain of its directors, employees and employees of its subsidiaries, restricted stock, restricted stock units (鈥淩SUs鈥) and stock options to purchase shares of its common stock (collectively, "Awards"). The Company measures

the cost of employee services received in exchange for an equity classified Award (such as stock options and restricted stock) based on the grant-date fair value (鈥淕DFV鈥) of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). The Company measures the cost of employee services received in exchange for a liability classified Award based on the current fair value of the Award, and remeasures the fair value of the Award at each reporting date.

Included in the accompanying condensed consolidated statements of operations are the following amounts of stock-based compensation, as discussed below:

Three months ended

March 31,

听听听听

2022

听听听听

2021

amounts听in听millions

Cost of Sirius XM Holdings services:

Programming and content

$

8

8

Customer service and billing

1

1

Other

1

1

Other operating expense

8

10

Selling, general and administrative

37

43

$

55

63

猫咪社区鈥擥rants of Awards

Options granted during the three months ended March 31, 2022 are summarized as follows:

Three Months Ended

March 31, 2022

Options

Weighted

granted

average

(000's)

GDFV

Series听C 猫咪社区 SiriusXM common stock, 猫咪社区 CEO (1)

212

$

14.45

Series听C 猫咪社区 Formula One common stock, 猫咪社区 CEO (1)

181

$

21.31

Series听C 猫咪社区 Formula One common stock, Formula 1 employees (2)

86

$

21.31

Series听C 猫咪社区 Braves common stock, 猫咪社区 CEO (1)

95

$

9.16

(1) Grants cliff vest on December 30, 2022. Grants were made in connection with the CEO鈥檚 employment agreement.
(2) Grants vest in equal quarterly installments over 2022.

The Company did not grant any options to purchase Series A or Series B 猫咪社区 SiriusXM, 猫咪社区 Braves or 猫咪社区 Formula One common stock during the three months ended March 31, 2022.

猫咪社区 calculates the GDFV for all of its equity classified Awards and the subsequent remeasurement of its liability classified Awards using the Black-Scholes Model. 猫咪社区 estimates the expected term of the Awards based on historical exercise and forfeiture data. The volatility used in the calculation for Awards is based on the historical volatility of 猫咪社区 common stock and the implied volatility of publicly traded 猫咪社区 options. 猫咪社区 uses a zero dividend rate and the risk-free rate for Treasury Bonds with a term similar to that of the subject Awards.

猫咪社区鈥擮utstanding Awards

The following tables present the number and weighted average exercise price ("WAEP") of Awards to purchase 猫咪社区 common stock granted to certain officers, employees and directors of the Company, as well as the weighted average remaining life and aggregate intrinsic value of the Awards. 听

猫咪社区 SiriusXM

Series听C

听听听听

听听听听

听听听听

听听听听

Weighted

听听听听

Aggregate

average

intrinsic

猫咪社区

remaining

value

Awards听(000's)

WAEP

life

(millions)

Outstanding at January听1, 2022

7,369

$

38.79

Granted

212

$

44.80

Exercised

(423)

$

31.27

Forfeited/Cancelled

$

Outstanding at March 31, 2022

7,158

$

39.41

3.5

years

$

47

Exercisable at March 31, 2022

4,789

$

36.84

2.5

years

$

43

猫咪社区 Braves

Series听C

听听听听

听听听听

听听听听

听听听听

Weighted

听听听听

Aggregate

average

intrinsic

猫咪社区

remaining

value

Awards听(000's)

WAEP

life

(millions)

Outstanding at January听1, 2022

3,125

$

25.86

Granted

95

$