v3.22.4
Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Summary of the Stock Option and RSU Award Activities
The following table summarizes the stock option and RSU award activities under the Company's share-based compensation plans for the years ended December 31, 2022 and 2021:

Shares Subject to Options OutstandingOutstanding RSUs
Number of Options (1)
Weighted Average Exercise Price
$
Remaining Contractual Term (in years)
Aggregate Intrinsic Value (2)
$
Weighted Average Grant Date Fair Value
$
Outstanding RSUsWeighted Average Grant Date Fair Value
$
December 31, 202024,892,775 10.385.452,559,442  11,129,673 37.71 
Stock options granted2,158,930 138.02— — 57.99 — — 
Stock options exercised(14,948,400)7.26— — — — — 
Stock options forfeited(564,640)87.36— — — — — 
RSUs granted— — — — 5,620,840 141.02 
RSUs settled— — — — (6,934,480)30.98 
RSUs forfeited— — — — (1,377,850)64.82 
December 31, 202111,538,665 34.525.671,190,972  8,438,183 107.63 
Stock options granted(3)
7,432,555 35.61 — — 24.83 — — 
Stock options exercised(3,126,869)5.61 — — — — — 
Stock options forfeited(4)
(1,835,590)72.65 — — — — — 
RSUs granted(3)
— — — — — 22,100,197 44.44 
RSUs settled— — — — — (7,380,507)63.86 
RSUs forfeited(5)
— — — — — (12,938,967)75.11 
December 31, 202214,008,761 36.556.71194,845  10,218,906 43.74 
Stock options exercisable as of December 31, 20228,758,121 29.635.31150,495 
(1) As at December 31, 2022 1,038,218 of the outstanding stock options were granted under the Company's Legacy Option Plan and are exercisable for Class B restricted voting shares, 10,951,410 of the outstanding stock options were granted under the Company's Stock Option Plan and are exercisable for Class A subordinate voting shares, 137,254 of the outstanding stock options were granted under the 6 River Systems 2016 Amended and Restated Stock Option and Grant Plan and are exercisable for Class A subordinate voting shares, and 1,881,879 of the outstanding stock options were granted under the Deliverr 2017 Stock Option and Grant Plan and are exercisable for Class A subordinate voting shares.
(2) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of the Company's Class A subordinate voting shares as of December 31, 2022 and December 31, 2021.
(3) Effective September 1, 2022, each employee that decided to enter into Flex Comp now receives a quarterly grant that generally vests on a monthly basis over a period of three months. Of the stock options granted, 2,251,863 related to the Deliverr acquisition, 1,282,662 related to Flex Comp and the remainder related to other compensation grants. Of the RSUs granted, 1,209,192 related to the Deliverr acquisition, 4,010,825 related to Flex Comp and the remainder related to other compensation grants.
(4) 690,158 of the stock options forfeited in the year ended December 31, 2022 related to employees that decided to enter into Flex Comp and 41,186 related to the reduction in workforce. The remainder related to standard voluntary and involuntary exits.
(5) 10,227,545 of the RSUs forfeited in the year ended December 31, 2022 related to employees that decided to enter into Flex Comp and 428,777 related to the reduction in workforce. The remainder related to standard voluntary and involuntary exits.
Schedule of Assumptions Used to Estimate the Fair Value of Stock Options
The grant weighted average assumptions used to estimate the fair value of stock options granted to employees were as follows:    
Years ended
December 31, 2022December 31, 2021
Expected volatility63.3 %53.1 %
Risk-free interest rate2.90 %0.71 %
Dividend yieldNilNil
Average expected term3.654.15
Schedule of Classification of Stock-based Compensation
The following table illustrates the classification of stock-based compensation in the consolidated statements of operations and comprehensive (loss) income, which includes both stock-based compensation and restricted share-based compensation expense:    
Years ended
December 31, 2022December 31, 2021
$$
Cost of revenues
8,5916,676
Sales and marketing
63,25541,546
Research and development
386,596215,193
General and administrative
90,70067,348
549,142330,763