Aurora Innovation, Inc. Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2024

RSUs granted under the Plan and the 2017 Plan were as follows:


	Twelve Months Ended December 31,
	2024		2023		2022
RSUs granted (in millions)	41		63		113
Weighted average grant date fair value	$	2.56	$	1.74	$	3.62

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	41	2.56
Vested	(50)	2.67
Forfeited	(15)	3.00
Unvested at December 31, 2024	76	$	2.67

Stock options granted under the Plan and the 2017 Plan were as follows:


	Twelve Months Ended December 31,
	2024			2023			2022
Stock options granted (in millions)	41			62			9
Weighted average grant date fair value	$	1.41		$	0.97		$	1.35
Weighted average grant date fair value assumptions:
Expected term	6.0 years			5.8 years			5.6 years
Risk-free interest rates	4.1		%	4.3		%	3.6		%

Expected volatility	53.1		%	55.0		%	55.0		%

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	41	2.56
Exercised	(20)	1.55
Forfeited	(7)	2.02
Expired	(1)	3.14
Outstanding at December 31, 2024	117	$	2.07	7.4	$	514
Exercisable at December 31, 2024	64	$	1.81	6.3	$	298

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


	Twelve Months Ended December 31,
		2024		2023		2022
Research and development		$	122	$	139	$	137
Selling, general, and administrative		22		21		19
Total		$	144	$	160	$	156