Aurora Innovation, Inc. Quarterly report [Sections 13 or 15(d)]

Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2025

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


	Three Months Ended March 31,
	2025		2024
Research and development	$	29	$	31
Selling, general, and administrative	5		5
Total	$	34	$	36

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, 2024	76	$	2.67
Granted	39	7.77
Vested	(11)	2.66
Forfeited	(4)	2.27
Unvested at March 31, 2025	100	$	4.64

Stock options granted under the Plan during the three months ended March 31, 2025 were as follows:


	Three Months Ended March 31, 2025

Stock options granted (in millions)	2
Weighted average grant date fair value	$	6.48
Weighted average grant date fair value assumptions:
Expected term	6.2 years
Risk-free interest rates	4.3		%

Expected volatility	88.8		%

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, 2024	117	$	2.07
Granted	2	8.47
Exercised	(8)	2.09
Forfeited	(3)	1.97

Outstanding at March 31, 2025	108	$	2.18	7.4	$	492
Exercisable at March 31, 2025	62	$	1.80	6.4	$	301