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

Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2023

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


	Three Months Ended March 31,
		2023		2022
Research and development		$	34	$	26
Selling, general, and administrative		5		3
Total		$	39	$	29

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, 2022	103	$	3.70
Granted	38	1.42
Vested	(7)	4.40
Forfeited	(5)	3.51
Unvested at March 31, 2023	129	$	3.00

Stock options granted under the Plan and the 2017 Plan during the three months ended March 31, 2023 were as follows:


	Three Months Ended March 31, 2023

Stock options granted (in millions)	37
Weighted average grant date fair value	$	0.79
Weighted average grant date fair value assumptions:
Expected term	5.7 years
Risk-free interest rates	4.5		%

Expected volatility	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, 2022	63	$	1.76
Granted	37	1.42
Exercised	(2)	0.45
Forfeited	(1)	2.49
Expired	—	2.51
Outstanding at March 31, 2023	97	$	1.64	7.9	$	15
Exercisable at March 31, 2023	44	$	1.45	6.1	$	15