Our board of directors has authorized a share repurchase program of our Class A common stock, which commenced in January 2017 and does not have an expiration date. We did not repurchase any shares of Class A common stock during the three months ended March 31, 2026. As of both December 31, 2025 and March 31, 2026, $25.03 billion remained available and authorized for repurchases under this program.

During the three months ended March 31, 2026 and 2025, we paid dividends and dividend equivalents of $0.525 per each share of common stock, totaling to $1.17 billion and $1.15 billion, respectively, for Class A common stock, and $180 million in both periods for Class B common stock.

Effective January 1, 2026, pursuant to the automatic increase provision under our 2025 Equity Incentive Plan (2025 Plan), our board of directors approved an increase of 55 million shares of Class A common stock reserved for issuance. As of March 31, 2026, there were 446 million shares of our Class A common stock reserved for future issuance under our 2025 Plan.

The following table summarizes our share-based compensation expense, which consists of the RSU expense, by line item in our condensed consolidated statements of income (in millions):


	Three Months Ended March 31,
		2026		2025
Cost of revenue		$	273	$	271
Research and development		5,332		3,427
Marketing and sales		210		236
General and administrative		210		213
Total		$	6,025	$	4,147


	Number of Shares	Weighted-Average Grant Date Fair Value Per Share
	(in thousands)
Unvested at December 31, 2025	115,552	$	500.68
Granted	54,863	$	599.20
Vested	(15,785)	$	369.16
Forfeited	(4,867)	$	501.07
Unvested at March 31, 2026	149,763	$	550.62

The fair value as of the respective vesting dates of RSUs that vested during the three months ended March 31, 2026 and 2025 was $10.10 billion and $11.53 billion, respectively. The income tax benefit recognized related to awards vested during the three months ended March 31, 2026 and 2025 was $2.23 billion and $2.36 billion.

As of March 31, 2026, unrecognized share-based compensation expense for RSU awards was $79.22 billion, which is expected to be recognized over a weighted-average period of approximately three years based on vesting under the award service conditions.

In March 2026, we issued nonstatutory stock options to purchase an aggregate of 19 million shares of our Class A common stock under the 2025 Plan to certain of our executives and employees. These options have a weighted-average exercise price of $2,788 per share and a weighted-average remaining contractual term of approximately five years as of March 31, 2026. Stock options become vested and exercisable at such times and under such service and market conditions as determined by our compensation, nominating & governance committee or its equity subcommittee, as appropriate. As of March 31, 2026, unrecognized share-based compensation expense related to these stock options was $495 million, which is expected to be recognized over a weighted-average period of approximately four years.