Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation

Share-Based Compensation
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
RSU Equity Awards
The following table summarizes activity for restricted stock units that may be settled in common stock (“RSU Equity Awards”) for the nine months ended September 30, 2022:
Nine Months Ended September 30, 2022
RSU Equity Awards
(In thousands)
Weighted Average Grant Date
Fair Value
Unvested, beginning of the period 968  $34.04 
Granted 358  $59.78 
Vested (356) $35.33 
Forfeited (89) $37.90 
Unvested, end of the period 881  $43.60 
Grant activity for the nine months ended September 30, 2022 primarily consisted of RSU Equity Awards granted to executives and employees as part of the annual grant of long-term equity incentive awards with a weighted-average grant date fair value of $59.78.
The aggregate fair value of RSU Equity Awards that vested during the nine months ended September 30, 2022 was $21.6 million. As of September 30, 2022, unrecognized compensation costs related to unvested RSU Equity Awards were $27.6 million and will be recognized over a weighted average period of 2.0 years.
Cash-Settled Awards
No restricted stock units that may be settled in cash (“Cash-Settled RSU Awards”) or cash-settled stock appreciation rights (“Cash SARs”) were granted to employees during the three or nine months ended September 30, 2022. The following table summarizes the Company’s liabilities for cash-settled awards and the classification in the consolidated balance sheets for the periods indicated:
September 30, 2022 December 31, 2021
(In thousands)
Cash SARs $4,861  $7,884 
Cash-Settled RSU Awards 676  1,382 
Other current liabilities 5,537  9,266 
Cash-Settled RSU Awards 1,310  6,366 
Other long-term liabilities 1,310  6,366 
Total Cash-Settled RSU Awards $6,847  $15,632 
Share-Based Compensation Expense (Benefit), Net
Share-based compensation expense associated with the RSU Equity Awards, Cash-Settled RSU Awards, and Cash SARs, net of amounts capitalized, is included in “General and administrative” in the consolidated statements of operations. The following table presents share-based compensation expense (benefit), net for the periods indicated:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022 2021 2022 2021
(In thousands)
RSU Equity Awards $3,892  $3,839  $11,581  $9,689 
Cash-Settled RSU Awards (706) (1,344) (4,131) 6,105 
Cash SARs (1,445) (2,006) (3,023) 6,536 
1,741  489  4,427  22,330 
Less: amounts capitalized to oil and gas properties (1,642) (1,392) (3,372) (10,346)
Total share-based compensation expense (benefit), net $99  ($903) $1,055  $11,984 
See “Note 10 - Share-Based Compensation” of the Notes to Consolidated Financial Statements in the 2021 Annual Report for details of the Company’s equity-based incentive plans.