Table Of Contents OLO INC. Notes to Condensed Financial Statements (Unaudited) Restricted Stock Units The following summarizes the activity for the unvested RSUs during the nine months ended September 30, 2021: Shares Weighted-  Average  Grant Date Fair Value Unvested at December 31, 2020 — $ — Granted 166,371 31.21 Vested (788) 34.28 Forfeited and canceled (10,161) 33.42 Unvested at September 30, 2021 155,422 $ 31.05 Future stock-based compensation for unvested RSUs awarded as of September 30, 2021 is approximately $3.8 million and will be recognized over a weighted-average period of 2.98 years. Stock Options The following summarizes our stock option activity for the nine months ended September 30, 2021: Number of  options  outstanding Weighted-  average  exercise  price  (Per share) Weighted-  average  remaining  contractual  term  (In years) Aggregate  intrinsic  value  (In thousands) As of December 31, 2020 39,161,438 $ 1.93 5.89 $ 347,574 Granted 6,951,470 10.28 Exercised (5,649,135) 1.52 Forfeited and canceled (647,791) 6.20 Vested and expected to vest as of September 30, 2021 39,815,982 $ 3.38 5.92 $ 1,061,145 Exercisable as of September 30, 2021 27,783,097 $ 1.80 4.64 $ 784,263 The following table summarizes the weighted-average grant date fair value of options granted, intrinsic value of options exercised, and grant date fair value of options vested for the three and nine months ended September 30, 2021 and 2020 (in thousands, except per share amounts): Three Months Ended  September 30, Nine Months Ended  September 30, 2021 2020 2021 2020 Weighted-average grant date fair value of options granted $ — $ 4.96 $ 10.70 $ 3.16 Intrinsic value of options exercised $ 97,370 $ 11,240 $ 169,450 $ 13,469 Total grant date fair value of options vested $ 10,709 $ 1,633 $ 29,355 $ 10,331 Future stock-based compensation for unvested employee options granted and outstanding as of September 30, 2021 is $77.6 million and will be recognized over a weighted-average period of 3.06 years. Future stock-based compensation for unvested employee options granted and outstanding as of December 31, 2020 is $29.6 million and will be recognized over a weighted-average period of 3.12 years. 19