Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation

v3.22.2
Share-Based Compensation
6 Months Ended
Jun. 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 six months ended June 30, 2022:
Six Months Ended June 30, 2022
RSU Equity Awards
(In thousands)
Weighted Average Grant Date
Fair Value
Unvested, beginning of the period 968  $34.04 
Granted 355  $60.02 
Vested (354) $35.28 
Forfeited (42) $14.59 
Unvested, end of the period 927  $22.66 
Grant activity for the six months ended June 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 $60.02.
The aggregate fair value of RSU Equity Awards that vested during the six months ended June 30, 2022 was $21.5 million. As of June 30, 2022, unrecognized compensation costs related to unvested RSU Equity Awards were $33.2 million and will be recognized over a weighted average period of 2.2 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 six months ended June 30, 2022 or 2021. The following table summarizes the Company’s liabilities for cash-settled awards and the classification in the consolidated balance sheets for the periods indicated:
June 30, 2022 December 31, 2021
(In thousands)
Cash SARs $6,306  $7,884 
Cash-Settled RSU Awards 1,287  1,382 
Other current liabilities 7,593  9,266 
Cash-Settled RSU Awards 1,406  6,366 
Other long-term liabilities 1,406  6,366 
Total Cash-Settled RSU Awards $8,999  $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
June 30,
Six Months Ended
June 30,
2022 2021 2022 2021
(In thousands)
RSU Equity Awards $4,323  $3,242  $7,689  $5,850 
Cash-Settled RSU Awards (3,662) 3,007  (3,425) 7,449 
Cash SARs (4,018) 3,676  (1,578) 8,542 
(3,357) 9,925  2,686  21,841 
Less: amounts capitalized to oil and gas properties 147  (4,646) (1,730) (8,954)
Total share-based compensation expense (benefit), net ($3,210) $5,279  $956  $12,887 
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.