Markforged Holding Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Cover Page
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Equity Based Awards (Tables)

v3.22.4

Equity Based Awards (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

Option activity under the 2021 Plan for the year ended December 31, 2022 is as follows:


	Number of Shares			Weighted- Average Exercise Price (Per Share)		Weighted- Average Remaining Contractual Life (in years)
Outstanding at December 31, 2021		15,929,479		$	1.91		7.89
Granted		—			—
Exercised		(1,997,314	)		1.11
Forfeited		(2,009,831	)		2.14
Outstanding at December 31, 2022		11,922,334		$	2.00	6.99
Options exercisable at December 31, 2022		8,349,722		$	1.93		6.80

Summary of Additional information Regarding Exercise of Stock Options

Additional information regarding the exercise of stock options is as follows:


	Year Ended December 31,
(in thousands, except weighted average)	2022		2021
Intrinsic value of options exercised	$	3,525	$	17,614

Summary of Restricted Stock Units Activity

The following table summarizes the RSU activity for the year ended December 31, 2022:


	Number of Shares			Weighted- Average Grant Date Fair Value (Per Share)
Outstanding at December 31, 2021		4,337,556		$	9.12
Granted		10,122,983			2.45
Vested		(1,771,725	)		7.12
Forfeited		(1,648,219	)		5.02
Unvested at December 31, 2022		11,040,595		$	3.94

Summary of Recognized Stock-based Compensation Expense


	Year Ended December 31,
(in thousands)	2022		2021
Stock options	$	3,493	$	4,456
Restricted stock units		13,114		7,425
Stock-based compensation expense for restricted stock units and options	$	16,607	$	11,881

Summary Of Stock-based Compensation Based On Awards Granted

The stock-based compensation expense for stock-based awards and earnout shares was recognized in the following captions within the consolidated statements of operations:


	Year Ended December 31,
(in thousands)	2022		2021
Cost of revenue	$	354	$	515
Sales and marketing		2,158		2,395
Research and development		4,584		4,614
General and administrative		11,113		11,406
Total stock-based compensation expense	$	18,209	$	18,930

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