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  "authorName": "Spotify",
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  "presentationDate": "2025-02-01 00:00:00",
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  "notes": "This slide explains the accounting treatment of social charges related to stock-based compensation.",
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      "text": "Our guidance incorporates the impact of Social Charges, the vast majority of which appear in Operating Expenses. The amount of Social Charges we accrue for and ultimately pay can be volatile, as they are tied to the value of our share price. Since we do not forecast stock price changes in our guidance, meaningful movements in our stock price over the course of a quarter can lead to meaningful changes in Social Charges. As an example, at the Q4 close, our stock price was $447.38. In Q4, a 10% increase or decrease in our stock price compared to the quarter-end price would have an approximate +/- €33M impact on Social Charges.",
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      "text": "Social Charges Sensitivity",
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