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Stock-Based Compensation Plans | 6 Months Ended
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Jun. 30, 2022
Disclosure of terms and conditions of share-based payment arrangement [abstract] |
STOCK-BASED COMPENSATION PLANS |
25. STOCK-BASED COMPENSATION PLANS
Cenovus has a number of stock-based compensation plans which include net settlement rights (“NSRs”), Cenovus replacement stock options, performance share units, restricted share units and deferred share units. The following tables summarize information related to the Company’s stock-based compensation plans:
| Units Outstanding |  | Units Exercisable
As at June 30, 2022 | (thousands) |  | (thousands)
Stock Options With Associated Net Settlement Rights | 16,006 |  | 7,986 |
Cenovus Replacement Stock Options | 4,950 |  | 3,484 |
Performance Share Units | 8,718 |  | — |
Restricted Share Units | 6,764 |  | — |
Deferred Share Units | 1,605 |  | 1,605 |
The weighted average exercise price of NSRs and Cenovus replacement stock options outstanding as at June 30, 2022, were $12.35 and $12.39, respectively.
| Units Granted |  | Units Vested and Exercised/ Paid Out
For the six months ended June 30, 2022 | (thousands) |  | (thousands)
Stock Options With Associated Net Settlement Rights | 1,991 |  | 9,994
Cenovus Replacement Stock Options | — |  | 4,699
Performance Share Units | 3,202 |  | 1,413
Restricted Share Units | 3,130 |  | 2,214
Deferred Share Units | 454 |  | 115
In the six months ended June 30, 2022, 9,182 thousand NSRs (see Note 23), with a weighted average exercise price of $13.05, were exercised and net settled for cash. In the six months ended June 30, 2022, 812 thousand NSRs with a weighted average exercise price of $10.43, were exercised and net settled for 351 thousand common shares (see Note 23). In the six months ended June 30, 2022, 93 thousand Cenovus replacement stock options were exercised with a weighted average exercise price of $16.18 and settled for 73 thousand common shares (see Note 23) and 4,605 thousand Cenovus replacement stock options, with a weighted average exercise price of $15.49, were exercised and net settled for cash. The following table summarizes the stock-based compensation expense (recovery) recorded for all plans:
| Three Months Ended |  | Six Months Ended
For the periods ended June 30, | 2022 |  | 2021 |  | 2022 |  | 2021
Stock Options With Associated Net Settlement Rights | 5 |  | 3 |  | 9 |  | 8
Cenovus Replacement Stock Options | 22 |  | 7 |  | 41 |  | 14
Performance Share Units | 28 |  | 9 |  | 65 |  | 21
Restricted Share Units | 24 |  | 11 |  | 61 |  | 17
Deferred Share Units | 8 |  | 4 |  | 18 |  | 9
Stock-Based Compensation Expense (Recovery) | 87 |  | 34 |  | 194 |  | 69
Stock-Based Compensation Costs Capitalized | — |  | 2 |  | — |  | 3
Total Stock-Based Compensation | 87 |  | 36 |  | 194 |  | 72

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- Definition The entire disclosure for share-based payment arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2021-01-01 -Paragraph 44 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2021-en-r&anchor=para_44&doctype=Standard -URIDate 2021-03-24 + Details
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