Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

v3.20.2
Share-based Compensation (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2020 and 2019:
Three Months Ended September 30,
2020 2019
RSU Equity Awards
(in thousands) (1)
Weighted Average Grant Date
Fair Value (1)
RSU Equity Awards
(in thousands) (1)
Weighted Average Grant Date
Fair Value (1)
Unvested, beginning of the period 719  $39.99  305  $105.86 
Granted (2)
6  $9.35  —  $— 
Vested (3)
(14) $99.88  (17) $131.20 
Forfeited (12) $46.51  (8) $110.81 
Unvested, end of the period 699  $38.46  280  $104.17 

Nine Months Ended September 30,
2020 2019
RSU Equity Awards
(in thousands) (1)
Weighted Average Grant Date
Fair Value (1)
RSU Equity Awards
(in thousands) (1)
Weighted Average Grant Date
Fair Value (1)
Unvested, beginning of the period 269  $102.48  210  $130.39 
Granted (2)
562  $21.07  188  $85.89 
Vested (3)
(120) $100.19  (96) $124.24 
Forfeited (12) $46.51  (22) $116.20 
Unvested, end of the period 699  $38.46  280  $104.17 

(1)Shares and per share data have been retroactively adjusted to reflect the Company’s 1-for-10 reverse stock split effective August 7, 2020. See “Note 11 - Stockholders’ Equity” for additional information.
(2)Includes zero target performance-based RSU Equity Awards during the three months ended September 30, 2020 and 2019, respectively, and 111.2 thousand and 38.8 thousand during the nine months ended September 30, 2020 and 2019, respectively. The performance-based RSU Equity Awards granted during the nine months ended September 30, 2020 and 2019 will vest at a range of 0% to 300% and 0% to 200%, respectively.
(3)The fair value of shares vested was $0.1 million and $0.8 million during the three months ended September 30, 2020 and 2019, respectively, and $1.4 million and $6.8 million for the nine months ended September 30, 2020 and 2019, respectively.
Schedule of Fair Value Inputs The following table summarizes the assumptions
used to calculate the grant date fair value of the performance-based RSU Equity Awards granted during the nine months ended September 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 —  % —  % —  %
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 nine months ended September 30, 2020 and 2019:
Three Months Ended September 30,
2020 2019
Cash-Settled RSU Awards
(in thousands) (1)
Weighted Average Grant Date
Fair Value (1)
Cash-Settled RSU Awards
(in thousands) (1)
Weighted Average Grant Date
Fair Value (1)
Unvested, beginning of the period 208  $67.20  103  $129.67 
Granted —  $—  —  $— 
Vested (1) $131.54  —  $— 
Did not vest at end of performance period (2) $133.95  —  $— 
Forfeited —  $—  (3) $132.86 
Unvested, end of the period 205  $66.28  100  $129.58 

Nine Months Ended September 30,
2020 2019
Cash-Settled RSU Awards
(in thousands) (1)
Weighted Average Grant Date
Fair Value (1)
Cash-Settled RSU Awards
(in thousands) (1)
Weighted Average Grant Date
Fair Value (1)
Unvested, beginning of the period 86  $124.22  66  $147.59 
Granted 125  $29.76  44  $105.08 
Vested (3) $130.12  (2) $108.10 
Did not vest at end of performance period (3) $148.81  —  $— 
Forfeited —  $—  (8) $145.65 
Unvested, end of the period 205  $66.28  100  $129.58 

(1)Shares and per share data have been retroactively adjusted to reflect the Company’s 1-for-10 reverse stock split effective August 7, 2020. See “Note 11 - Stockholders’ Equity” for additional information.
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:
September 30, 2020 December 31, 2019
(In thousands)
Other current liabilities $49  $966 
Other long-term liabilities 275  2,089 
Total Cash-Settled RSU Awards $324  $3,055 
Schedule of Cost by Plan The following table presents share-based compensation expense (benefit), net for each respective period:
Three Months Ended September 30, Nine Months Ended
September 30,
2020 2019 2020 2019
(In thousands)
RSU Equity Awards $3,009  $2,649  $10,169  $11,032 
Cash-Settled RSU Awards (566) (1,116) (1,966) 238 
Cash SARs (1,005) —  (4,646) — 
1,438  1,533  $3,557  $11,270 
Less: amounts capitalized to oil and gas properties (1,532) (866) (3,862) (3,170)
Total share-based compensation expense (benefit), net ($94) $667  ($305) $8,100