Stockholders’ Equity (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Common Stock Outstanding Roll Forward

The following table shows the changes in Class A and Class B shares of common stock (in millions):

Three Months Ended March 31, 2024

Class A and B Common Stock (in shares)

Balance, beginning of period

543

Issuance of common stock under equity plans

Balance, end of period

552

Schedule of Share-based Compensation Expense

Stock-based compensation expense recognized for the three months ended March 31, 2024 and 2023, is as follows (in millions):


	Three Months Ended March 31,
	2024		2023
Costs of revenue	$	10	$	10
Sales and marketing	11		13
Research and development	18		21
General and administrative	17		19
Restructuring	10		—
	$	66	$	63

Schedule of Stock Option Activity

The following is a summary of stock option activity under our stock option plans for the three months ended March 31, 2024:


(in millions, except per share amounts)	Number of Shares (in millions)	Weighted- Average Exercise Price (per share)		Weighted-Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in millions) (1)

Outstanding as of December 31, 2023	48	$	7.07
Granted	2	24.65
Exercised	(6)	3.78
Forfeited	(1)	10.37
Outstanding as of March 31, 2024	43	$	8.13


Options vested and expected to vest as of March 31, 2024	41	$	7.84	6.1	$	706

(1) The aggregate intrinsic value was determined as the difference between the closing price of the Class A common stock on the last trading day of March 2024, or the date of exercise, as appropriate, and the exercise price, multiplied by the number of in-the-money options that would have been received by the option holders had all option holders exercised their in-the-money options at period end.

Schedule of Restricted Stock Unit Activity

The following table summarizes restricted stock units, or RSU, activity during the three months ended March 31, 2024:


	RSU (in millions)	Weighted-Average Grant Date Fair Value (per share)
Outstanding balance as of December 31, 2023	33	$	20.70
Granted	6	$	24.25
Vested	(3)	$	21.43
Forfeited	(4)	$	21.26
Outstanding balance as of March 31, 2024	32	$	21.20
Expected to vest, as of March 31, 2024	28	$	21.19