Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.21.2
Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of restricted stock unit activity
The following table summarizes activity for restricted stock units that may be settled in common stock (“RSU Equity Awards”) for the three and nine months ended September 30, 2021 and 2020:
Three Months Ended September 30,
2021 2020
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 1,035  $35.88  719  $39.99 
Granted (1)
—  $—  $9.35 
Vested (2)
(2) $61.84  (14) $99.88 
Forfeited (10) $30.98  (12) $46.51 
Unvested, end of the period 1,023  $35.86  699  $38.46 
Nine Months Ended September 30,
2021 2020
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 677  $34.57  269  $102.48 
Granted (1)
636  $38.46  562  $21.07 
Vested (2)
(207) $39.51  (120) $100.19 
Forfeited (83) $36.18  (12) $46.51 
Unvested, end of the period 1,023  $35.86  699  $38.46 
(1)Includes zero target performance-based RSU Equity Awards granted during both the three and nine months ended September 30, 2021 and zero and 111.2 thousand during the three and nine months ended September 30, 2020, respectively.
(2)The fair value of shares vested was $0.1 million during both the three months ended September 30, 2021 and 2020, and $7.9 million and $1.4 million for the nine months ended September 30, 2021 and 2020, 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:
Performance-Based Awards June 29, 2020 January 31, 2020
Expected term (in years) 2.5 2.9
Expected volatility 113.2  % 54.8  %
Risk-free interest rate 0.2  % 1.3  %
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, 2021 and 2020:
Three Months Ended September 30,
2021 2020
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 174  $45.93  208  $67.20 
Granted —  $—  —  $— 
Vested —  $—  (1) $131.54 
Did not vest at end of performance period —  $—  (2) $133.95 
Forfeited —  $—  —  $— 
Unvested, end of the period 174  $45.93  205  $66.28 
Nine Months Ended September 30,
2021 2020
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 196  $47.56  86  $124.22 
Granted (1)
$36.71  125  $29.76 
Vested (1) $110.48  (3) $130.12 
Did not vest at end of performance period (1) $110.48  (3) $148.81 
Forfeited (23) $54.57  —  $— 
Unvested, end of the period 174  $45.93  205  $66.28 
(1)Includes 3.2 thousand and 13.7 thousand units for the nine months ended September 30, 2021 and 2020, respectively, associated with deferrals of certain non-employee director compensation pursuant to the terms of the Amended and Restated Deferred Compensation Plan for Outside Directors.
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, 2021 December 31, 2020
(In thousands)
Other current liabilities $661  $182 
Other long-term liabilities 6,780  1,336 
Total Cash-Settled RSU Awards $7,441  $1,518 
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,
2021 2020 2021 2020
(In thousands)
RSU Equity Awards $3,839  $3,009  $9,689  $10,169 
Cash-Settled RSU Awards (1,344) (566) 6,105  (1,966)
Cash SARs (2,006) (1,005) 6,536  (4,646)
489  1,438  22,330  3,557 
Less: amounts capitalized to oil and gas properties (1,392) (1,532) (10,346) (3,862)
Total share-based compensation expense (benefit), net ($903) ($94) $11,984  ($305)