Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.22.0.1
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Units Activity
The following table summarizes RSU Equity Award activity for the year ended December 31, 2021:
RSU Equity Awards (in thousands) Weighted Average Grant-Date Fair Value per Share
Unvested at the beginning of the year 677  $34.57 
Granted 643  $38.59 
Vested (224) $43.97 
Forfeited (128) $42.40 
Unvested at the end of the year 968  $34.04 
Cash-Settled RSU Awards. The table below summarizes the Cash-Settled RSU Award activity for the year ended December 31, 2021:
Cash-Settled RSU Awards
(in thousands)		 Weighted Average Grant-Date Fair Value per Share
Unvested at the beginning of the year 196  $47.56 
Granted (1)
3  $36.71 
Vested (14) $107.93 
Did not vest at end of performance period (14) $107.93 
Forfeited (24) $54.57 
Unvested at the end of the year 147  $34.60 
(1)Includes 3.2 thousand units associated with deferrals of certain non-employee director compensation pursuant to the terms of the Amended and Restated Deferred Compensation Plan for Outside Directors.
Cash-Settled SARs. The table below summarizes the Cash SAR activity for the year ended December 31, 2021.
Stock Appreciation Rights
(in thousands)		 Weighted
Average
Exercise
Prices		 Weighted Average Remaining Life
(In years)		 Aggregate Intrinsic Value
(In millions)
Outstanding, beginning of the year 368  $100.34 
Granted —  $— 
Exercised —  $— 
Forfeited —  $— 
Expired (65) $156.00 
Outstanding, end of the year 303  $88.37  3.1 $— 
Vested, end of the year 303  $88.37  —  $— 
Vested and exercisable, end of the year —  $—  —  $— 
Schedule of Shares that Vested and Did Not Vest
The following table summarizes the shares that vested and did not vest as a result of the Company’s performance as compared to its peers.
Years Ended December 31,
Performance-based Equity Awards 2021 2020 2019
Vesting Multiplier 50  %
50% - 100%
 100  %
Target 28,356 21,920 8,878
Vested at end of performance period 14,177 11,372 8,878
Did not vest at end of performance period 14,179 10,548 —
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 years ended December 31, 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 —  % —  % —  %
The following table summarizes the assumptions used and the expiration date for the grants that occurred during the period presented below:
Cash SARs 2019
Expected term (in years) 5.4
Expected volatility 60.7  %
Risk-free interest rate 1.7  %
Dividend yield —  %
Expiration date March 17, 2026
Summary of Liability for Cash-Settled Awards
The following table summarizes the classification in the consolidated balance sheets of the Company’s cash-settled awards for the periods indicated:
December 31,
2021 2020
(In thousands)
Cash SARs $7,884  $1,670 
Cash-Settled RSU Awards 1,382  182 
Other current liabilities 9,266  1,852 
Cash-Settled RSU Awards 6,366  1,336 
Other long-term liabilities 6,366  1,336 
Total Cash-Settled RSU Awards $15,632  $3,188 
Schedule of Share-based Compensation Expense The following table presents share-based compensation expense (benefit), net for each respective period:
Years Ended December 31,
2021 2020 2019
RSU Equity Awards $13,230  $13,030  $14,322 
Cash-Settled RSU Awards 6,412  (771) 1,021 
Cash SARs 6,215  (3,344) 443 
25,857  8,915  15,786 
Less: amounts capitalized to oil and gas properties (12,934) (6,252) (4,704)
Total share-based compensation expense, net $12,923  $2,663  $11,082