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

Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2023

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


	Twelve Months Ended December 31,
	2023		2022		2021
RSUs granted (in millions)	63		113		45
Weighted average grant date fair value	$	1.74	$	3.62	$	4.56

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	63	1.74
Vested	(49)	3.27
Forfeited	(17)	3.17
Unvested at December 31, 2023	100	$	2.76

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


	Twelve Months Ended December 31,
	2023			2022			2021
Stock options granted (in millions)	62			9			19
Weighted average grant date fair value	$	0.97		$	1.35		$	1.90
Weighted average grant date fair value assumptions:
Expected term	5.8 years			5.6 years			5.9 years
Risk-free interest rates	4.3		%	3.6		%	0.6		%

Expected volatility	55.0		%	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, 2022	63	$	1.76
Granted	62	1.75
Exercised	(11)	1.05
Forfeited	(7)	1.96
Expired	(3)	3.05
Outstanding at December 31, 2023	104	$	1.78	7.8	$	269
Exercisable at December 31, 2023	53	$	1.66	6.4	$	143

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


	Twelve Months Ended December 31,
		2023		2022		2021
Research and development		$	139	$	137	$	207
Selling, general, and administrative		21		19		13
Total		$	160	$	156	$	220