Quarterly report [Sections 13 or 15(d)]

Benefit Plans (Tables)

v3.25.2
Benefit Plans (Tables)
6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Share-Based Payment Arrangement, Expensed and Capitalized, Amount
Included in the accompanying unaudited consolidated statements of operations are the following amounts of share-based compensation expense:
For the Three Months Ended June 30,
For the Six Months Ended June 30,
2025 2024 2025 2024
Cost of services:
Programming and content $ 10  $ $ 19  $ 17 
Customer service and billing
Transmission
Sales and marketing 12  11  26  23 
Product and technology
11  18  23 
General and administrative 14  15  28  28 
$ 47  $ 48  $ 97  $ 96 
Schedule of Fair Value of Options Granted
The following table summarizes the weighted-average assumptions used to compute the fair value of options granted to employees, members of our board of directors and non-employees under the Sirius XM Awards during the three and six months ended June 30, 2024:

  For the Three Months Ended June 30, For the Six Months Ended June 30,
  2024 2024
Risk-free interest rate 4.7% 4.4%
Expected life of options — years 3.75 3.76
Expected stock price volatility 41% 40%
Expected dividend yield 3.9% 2.8%
Schedule of Stock Options Activity Under Share-based Payment Plans
The following table summarizes stock option activity under our share-based plans for the six months ended June 30, 2025:
  Options
WAEP
Weighted-Average
Remaining
Contractual Term (Years)
Aggregate
Intrinsic
Value
 Outstanding as of January 1, 2025
18  $ 49.69 
Granted —  $ — 
Exercised —  $ 1.10 
Forfeited, cancelled or expired (1) $ 49.08 
Outstanding as of June 30, 2025 17  $ 49.75  3.79 $ — 
Exercisable as of June 30, 2025 14  $ 50.34  3.18 $ — 
Schedule of Restricted Stock Unit and Stock Award Activity
The following table summarizes the RSU, including PRSU, activity under our share-based plans for the six months ended June 30, 2025:
  Shares
GDFV Per Share
Nonvested as of January 1, 2025 12  $ 42.33 
Granted 10  $ 25.59 
Vested (2) $ 55.74 
Forfeited (2) $ 34.24 
Nonvested as of June 30, 2025 18  $ 31.96