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SHARE CAPITAL AND SHARE BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2023
SHARE CAPITAL AND SHARE OPTIONS [Abstract]  
Authorized and issue share capital
As of December 31, 2023 and 2022, our authorized and issued share capital is as follows:

Authorized share capital:
(in thousands of $, except per share data)20232022
150,000,000 (2022: 150,000,000) common shares of $1.00 each
150,000 150,000 

Issued share capital:
(in thousands of $, except per share data)20232022
104,578,080 (2022: 107,225,832) outstanding issued common shares of $1.00 each
104,578 107,226 
(number of shares)20232022
As of January 1107,225,832 108,222,604 
Repurchase and cancellation of treasury shares (1)
(2,897,034)(1,189,653)
Vesting of RSUs249,282 186,881 
Share options exercised— 6,000 
As of December 31104,578,080 107,225,832 
(1) During 2023, we repurchased and cancelled 2.9 million treasury shares for a consideration of $61.7 million inclusive of brokers commission of $0.1 million. In 2022, we repurchased and cancelled 1.2 million treasury shares for a consideration of $25.5 million inclusive of brokers commission of $0.04 million.
Weighted average assumptions used The weighted average assumptions as of the March 2023 grant date as follows:
 2023
Risk free interest rate4.1 %
Expected volatility of common stock70.5 %
Expected dividend yield0.0 %
Expected term of options
4.0 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, 2023 is presented below:
Shares
(in thousands)
Weighted average exercise priceWeighted average remaining contractual term
(years)
Options outstanding at December 31, 2022
1,037 $15.37 1.0
Granted during the year650 $20.95 3.2
Lapsed during the year(287)$26.90 
Options outstanding at December 31, 2023
1,400 $15.20 1.7

Options outstanding and exercisable at:   
December 31, 2023
750 $10.22 0.4
December 31, 2022
662 $17.87 0.8
December 31, 2021
755 $24.28 0.8
Year ended December 31,
(in thousands of $)202320222021
Total fair value of share options vested in the year
1,958 1,958 1,595 
Compensation cost recognized in the consolidated statement of operations
2,706 1,971 1,434 
Share options cost capitalized*173 — 16 
*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, 2023 is presented below:
Shares
(in thousands)
Weighted average grant date fair value per shareWeighted average remaining contractual term
(years)
Non-vested RSUs at December 31, 2022
218 14.091.2
Granted during the year189 22.212.2
Vested during the year(207)21.57
Forfeited during the year(16)22.42
Non-vested RSUs at December 31, 2023
184 22.302.0
Summary of performance-based RSU activity
A summary of performance-based RSU activity for the year ended December 31, 2023 is presented below:
Shares
(in thousands)
Weighted average grant date fair value per shareWeighted average remaining contractual term
(years)
Non-vested performance based RSUs at December 31, 2022
69 16.051.6
Vested during the year
(51)21.68
Forfeited during the year(4)22.82
Non-vested performance based RSUs at December 31, 2023
14 22.821.5
Year ended December 31,
(in thousands of $)202320222021
Compensation cost recognized in the consolidated statement of income1,473 1,522 1,774 
RSU cost capitalized *
247 198 322 
*Relates to capitalized costs on RSUs awarded to employees directly involved in certain vessel conversion projects.