v3.22.2.2
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-based Compensation Expense
The following table summarizes total stock-based compensation expense (in thousands):

Three Months Ended September 30,Nine Months Ended September 30,
2021202220212022
Operations and support$11,162 $17,947 $36,810 $46,556 
Product development131,277 135,905 418,804 398,713 
Sales and marketing23,711 27,446 73,676 77,771 
General and administrative44,689 53,066 143,874 153,344 
Restructuring charges(50)— (38)8 
Stock-based compensation expense$210,789 $234,364 $673,126 $676,392 
Schedule of Fair Value Assumptions of Options Granted
The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option-pricing model using the range of assumptions in the following table:

Three Months Ended September 30, Nine Months Ended September 30,
2021202220212022
Expected term (years)
8.0
6.1
8.0
6.1
Risk-free interest rate
1.1%
0.3%
1.1% - 1.5%
0.3% - 2.2%
Expected volatility
44.2%
58.4%
44.2% - 44.9%
48.6% - 58.4%
Expected dividend yield— — — — 
Summary of Option Activity
A summary of stock option and restricted stock unit (“RSU”) activity under the Plans was as follows (in thousands, except per share amounts):

Outstanding
Stock Options
Outstanding
Restricted Stock Units
 Shares
Available for
Grant		Number of
Shares		Weighted-
Average
Exercise
Price		Number of
Shares		Weighted-
Average
Grant
Date Fair
Value
As of December 31, 202181,365 24,122 $19.69 36,789 $61.22 
Granted(11,054)698 161.70 10,356 142.50 
Increase in shares available for grant31,675 — — — — 
Shares withheld for taxes3,683 — — (3,683)79.70 
Exercised/Vested— (1,920)9.96 (6,050)80.78 
Canceled2,820 (382)95.88 (2,438)98.69 
As of September 30, 2022108,489 22,518 $23.63 34,974 $77.36 

Number of
Shares		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Life (years)		Aggregate
Intrinsic
Value
Options outstanding as of September 30, 202222,518 $23.63 3.15$1,907,995 
Options exercisable as of September 30, 202220,219 $16.52 2.56$1,811,550 
Summary of RSU Activity
A summary of stock option and restricted stock unit (“RSU”) activity under the Plans was as follows (in thousands, except per share amounts):

Outstanding
Stock Options
Outstanding
Restricted Stock Units
 Shares
Available for
Grant		Number of
Shares		Weighted-
Average
Exercise
Price		Number of
Shares		Weighted-
Average
Grant
Date Fair
Value
As of December 31, 202181,365 24,122 $19.69 36,789 $61.22 
Granted(11,054)698 161.70 10,356 142.50 
Increase in shares available for grant31,675 — — — — 
Shares withheld for taxes3,683 — — (3,683)79.70 
Exercised/Vested— (1,920)9.96 (6,050)80.78 
Canceled2,820 (382)95.88 (2,438)98.69 
As of September 30, 2022108,489 22,518 $23.63 34,974 $77.36 

Number of
Shares		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Life (years)		Aggregate
Intrinsic
Value
Options outstanding as of September 30, 202222,518 $23.63 3.15$1,907,995 
Options exercisable as of September 30, 202220,219 $16.52 2.56$1,811,550 
The following table summarizes the activity related to the Company’s RSAs (in thousands, except for per share amounts):

Number of
Shares		Weighted-Average
Grant-Date 
Fair Value
Per Share
Unvested RSAs as of December 31, 2021632 $62.32 
Vested(88)62.37 
Unvested RSAs as of September 30, 2022544 $62.32