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SHARE CAPITAL AND SHARE BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
SHARE CAPITAL AND SHARE OPTIONS [Abstract]  
Authorized and issue share capital
As of December 31, 2022 and 2021, our authorized and issued share capital is as follows:

Authorized share capital:
(in thousands of $, except per share data)20222021
150,000,000 (2021: 150,000,000) common shares of $1.00 each
150,000 150,000 

Issued share capital:
(in thousands of $, except per share data)20222021
107,225,832 (2021: 108,222,604) outstanding issued common shares of $1.00 each
107,226 108,223 

(number of shares)20222021
As of January 1108,222,604 109,943,594 
Repurchase and cancellation of treasury shares (1)
(1,189,653)(1,984,647)
Vesting of RSUs186,881 263,657 
Share options exercised6,000 — 
As of December 31107,225,832 108,222,604 
(1) During 2022, we repurchased and cancelled 1.2 million treasury shares for a consideration of $25.5 million inclusive of brokers commission of $0.02 million. In 2021, we repurchased and cancelled 2.0 million treasury shares for a consideration of $24.5 million inclusive of brokers commission of $0.04 million.
Weighted average assumptions used The weighted average assumptions as of the May 2021 grant date are noted in the table below:
 2021
Risk free interest rate0.2 %
Expected volatility of common stock85.0 %
Expected dividend yield0.0 %
Expected term of options (in years)2.3 years
The weighted average assumptions as of grant date are noted in the table below:
 2020
Remaining performance period2.8 years
Contractual term3.0 years
Expected dividend yield0.0 %
Risk free interest rate0.42 %
Golar volatility84 %
Share price at grant date$7.49 
Summary of stock option activity
A summary of the share options movements during the year ended December 31, 2022 is presented below:
Shares
(in ’000s)		Weighted average exercise priceWeighted average remaining contractual term
(years)
Options outstanding at December 31, 2021
1,505 $17.65 1.6
Forfeited during the year(334)$21.17 
Exercised during the year(6)$26.90 
Lapsed during the year(128)$26.44 
Options outstanding at December 31, 2022
1,037 $15.37 1.0

Options outstanding and exercisable at:   
December 31, 2022
662 $17.87 0.8
December 31, 2021
755 $24.28 0.8
December 31, 2020
1,717 $24.46 1.2
Year ended December 31,
(in thousands of $)202220212020
Total fair value of share options fully vested in the year1,958 1,595 3,175 
Compensation cost recognized in the consolidated statement of income1,971 1,434 2,274 
Share options cost capitalized*— 16 110 
*Relates to capitalized costs on share options awarded to employees directly involved in certain vessel conversion projects.
Summary of time-based RSU activity
A summary of time-based RSU activities for the year ended December 31, 2022 is presented below:
Shares
(in ‘000s)
Weighted average grant date fair value per shareWeighted average remaining contractual term
(years)
Non-vested RSUs at December 31, 2021
343 9.711.1
Granted during the year97 22.52
Vested during the year(187)11.28
Forfeited during the year(35)9.63
Non-vested RSUs at December 31, 2022
218 14.091.2
Summary of performance-based RSU activity
A summary of performance-based RSU activity for the year ended December 31, 2022 is presented below:
Shares
(in ‘000s)
Weighted average grant date fair value per shareWeighted average remaining contractual term
(years)
Non-vested performance based RSUs at December 31, 2021
28 6.251.2
Granted during the year42 22.79
Forfeited during the year(1)22.79
Non-vested performance based RSUs at December 31, 2022
69 16.051.6
Year ended December 31,
(in thousands of $)202220212020
Compensation cost recognized in the consolidated statement of income1,522 1,774 2,739 
RSU cost capitalized *
198 322 295 
*Relates to capitalized costs on RSUs awarded to employees directly involved in certain vessel conversion projects.