Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.20.2
Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Unit Activity
The following table summarizes activity for restricted stock units may be settled in common stock (“RSU Equity Awards”) for the three and six months ended June 30, 2020 and 2019:
Three Months Ended June 30,
2020 2019
RSU Equity Awards
(in thousands)		 Weighted Average Grant Date
Fair Value 		RSU Equity Awards
(in thousands) 		Weighted Average
Grant Date
Fair Value
Unvested, beginning of the period 4,851    $6.95    3,406    $11.14   
Granted (1)
3,257    $1.26    171    $7.87   
Vested (2)
(900)   $10.06    (458)   $12.51   
Forfeited —    $—    (64)   $11.43   
Unvested, end of the period 7,208    $3.99    3,055    $10.75   

Six Months Ended June 30,
2020 2019
RSU Equity Awards
(in thousands)		 Weighted Average Grant Date
Fair Value		 RSU Equity Awards
(in thousands)		 Weighted Average
Grant Date
Fair Value
Unvested, beginning of the period 2,695    $10.25    2,103    $13.24   
Granted (1)
5,575    $2.12    1,881    $8.60   
Vested (2)
(1,062)   $10.02    (791)   $12.23   
Forfeited —    $—    (138)   $10.82   
Unvested, end of the period 7,208    $3.99    3,055    $10.75   

(1)Includes 0.3 million and zero target performance-based RSU Equity Awards during the three months ended June 30, 2020 and 2019, respectively, and 1.1 million and 0.4 million during the six months ended June 30, 2020 and 2019, respectively. The awards granted during the six months ended June 30, 2020 and 2019 will vest at a range of 0% to 300% and 0% to 200%, respectively.
(2)The fair value of shares vested was $0.6 million and $3.4 million during the three months ended June 30, 2020 and 2019, respectively, and $1.3 million and $6.0 million for the six months ended June 30, 2020 and 2019, respectively.
Schedule of Fair Value Inputs The following table summarizes the assumptions used and the resulting grant date fair value per performance-based RSU Equity Award granted during the six months ended June 30, 2020 and 2019:
Performance-based Awards June 29, 2020 January 31, 2020 January 31, 2019
Expected term (in years) 2.5 2.9 2.9
Expected volatility 113.2  % 54.8  % 47.9  %
Risk-free interest rate 0.2  % 1.3  % 2.4  %
Dividend yield —  % —  % —  %
Grant date fair value per performance-based RSU Equity Award $1.80 $3.39 $10.78
Schedule of Cash-Settleable Vesting Period RSU Awards
The table below summarizes the activity for restricted stock units that may be settled in cash (“Cash-Settled RSU Awards”) for the three and six months ended June 30, 2020 and 2019:
Three Months Ended June 30,
2020 2019
Cash-Settled RSU Awards
(in thousands)		 Weighted Average Grant Date
Fair Value 		Cash-Settled RSU Awards
(in thousands)		 Weighted Average
Grant Date
Fair Value
Unvested, beginning of the period 1,707    $7.85    1,044    $11.69   
Granted 386    $2.03    25    $8.1   
Vested (2)   $16.66    (17)   $11.06   
Did not vest at end of performance period (11)   $15.27    —    $—   
Forfeited —    $—    (21)   $16.38   
Unvested, end of the period 2,080    $6.72    1,031    $11.52   

Six Months Ended June 30,
2020 2019
Cash-Settled RSU Awards
(in thousands)		 Weighted Average Grant Date
Fair Value 		Cash-Settled RSU Awards
(in thousands)		 Weighted Average
Grant Date
Fair Value
Unvested, beginning of the period 855    $12.42    678    $12.36   
Granted 1,249    $2.98    424    $10.62   
Vested (12)   $12.85    (17)   $11.06   
Did not vest at end of performance period (12)   $16.66    —    $—   
Forfeited —    $—    (54)   $15.21   
Unvested, end of the period 2,080    $6.72    1,031    $11.52   
Schedule of Cash-Settleable Restricted Stock Units Awards
The following table summarizes the Company’s liability for Cash-Settled RSU Awards and the classification in the consolidated balance sheets for the periods indicated:
June 30, 2020 December 31, 2019
(In thousands)
Other current liabilities $231    $966   
Other long-term liabilities 674    2,089   
Total Cash-Settled RSU Awards $905    $3,055   
Schedule of Cost by Plan The following table presents share-based compensation expense (benefit), net for each respective period:
Three Months Ended June 30, Six Months Ended
June 30,
2020 2019 2020 2019
(In thousands)
RSU Equity Awards $3,212    $2,907    $7,160    $8,383   
Cash-Settled RSU Awards 596    203    (1,400)   1,354   
Cash SARs 1,115    —    (3,641)   —   
4,923    3,110    $2,119    $9,737   
Less: amounts capitalized to oil and gas properties (2,162)   (1,131)   (2,330)   (2,304)  
Total share-based compensation expense (benefit), net $2,761    $1,979    ($211)   $7,433