Aurora Innovation, Inc. Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2024

Total stock-based compensation expense by function was as follows (in millions):


	Three Months Ended March 31,
	2024		2023
Research and development	$	31	$	34
Selling, general, and administrative	5		5
Total	$	36	$	39

RSU activity under the Plan and the 2017 Plan was as follows (in millions, except per share amounts):


	Number of shares	Weighted- average grant date fair value
Unvested at December 31, 2023	100	$	2.76
Granted	33	2.24
Vested	(13)	2.76
Forfeited	(3)	2.82
Unvested at March 31, 2024	117	$	2.61

Stock options granted under the Plan and the 2017 Plan during the three months ended March 31, 2024 were as follows:


	Three Months Ended March 31, 2024

Stock options granted (in millions)	34
Weighted average grant date fair value	$	1.23
Weighted average grant date fair value assumptions:
Expected term	6.0 years
Risk-free interest rates	4.1		%

Expected volatility	53.5		%

Stock option activity under the Plan and the 2017 Plan was as follows (in millions, except per share amounts):


	Number of shares	Weighted average exercise price		Weighted average remaining contractual term (in years)	Aggregate intrinsic value
Outstanding at December 31, 2023	104	$	1.78
Granted	34	2.24
Exercised	(3)	1.06
Forfeited	(2)	1.80
Expired	—	3.28
Outstanding at March 31, 2024	133	$	1.92	8.1	$	131
Exercisable at March 31, 2024	57	$	1.69	6.4	$	71