Quarterly report [Sections 13 or 15(d)]

Benefit Plans (Tables)

v3.25.1
Benefit Plans (Tables)
3 Months Ended
Mar. 31, 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 March 31,
2025 2024
Cost of services:
Programming and content $ $
Customer service and billing
Transmission
Sales and marketing 14  12 
Product and technology
10  12 
General and administrative 14  13 
$ 50  $ 48 
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 months ended March 31, 2024:

  For the Three Months Ended March 31,
  2024
Risk-free interest rate 4.2%
Expected life of options — years 3.76
Expected stock price volatility 39%
Expected dividend yield 2.1%
Schedule of Stock Options Activity Under Share-based Payment Plans
The following table summarizes stock option activity under our share-based plans for the three months ended March 31, 2025:
  Options
WAEP
Weighted-Average
Remaining
Contractual Term (Years)
Aggregate
Intrinsic
Value
 Outstanding as of January 1, 2025
18  $ 49.69 
Granted —  $ — 
Exercised —  $ — 
Forfeited, cancelled or expired (1) $ 47.04 
Outstanding as of March 31, 2025 17  $ 49.86  3.99 $ — 
Exercisable as of March 31, 2025 14  $ 51.11  3.22 $ — 
Schedule of Restricted Stock Unit and Stock Award Activity
The following table summarizes the RSUs, including PRSUs, activity under our share-based plans for the three months ended March 31, 2025:
  Shares
GDFV Per Share
Nonvested as of January 1, 2025 12  $ 42.33 
Granted $ 25.75 
Vested (1) $ 58.89 
Forfeited (1) $ 34.92 
Nonvested as of March 31, 2025 19  $ 32.92