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Stock-Based Compensation Plans (Tables) | 9 Months Ended
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Sep. 30, 2023
Disclosure of terms and conditions of share-based payment arrangement [abstract] |
Summary of Options Outstanding and Exercisable | The following tables summarize information related to the Company’s stock-based compensation plans:
| Units Outstanding |  | Units Exercisable
As at September 30, 2023 | (thousands) |  | (thousands)
Stock Options With Associated Net Settlement Rights | 12,158 |  | 6,905 |
Cenovus Replacement Stock Options | 1,095 |  | 1,072 |
Performance Share Units | 10,193 |  | — |
Restricted Share Units | 7,217 |  | — |
Deferred Share Units | 1,662 |  | 1,662 |
The weighted average exercise price of NSRs and Cenovus replacement stock options outstanding as at September 30, 2023, were $13.62 and $6.52, respectively.
| Units Granted |  | Units Vested and Exercised/ Paid Out
For the nine months ended September 30, 2023 | (thousands) |  | (thousands)
Stock Options With Associated Net Settlement Rights | 1,571 |  | 3,591
Cenovus Replacement Stock Options | — |  | 2,031
Performance Share Units | 2,533 |  | 972
Restricted Share Units | 2,955 |  | 2,299
Deferred Share Units | 162 |  | 33
| Weighted Average Exercise Price |  | Units Exercised
For the nine months ended September 30, 2023 | ($/unit) |  | (thousands)
Stock Options With Associated Net Settlement Rights Exercised for Net Cash Payment | 12.94 |  | 3,392
Stock Options With Associated Net Settlement Rights Exercised and Net Settled for Common Shares (1) | 17.22 |  | 199
Cenovus Replacement Stock Options Exercised and Net Settled for Cash | 10.11 |  | 2,028
Cenovus Replacement Stock Options Exercised and Net Settled for Common Shares (2) | 3.54 |  | 3
(1)NSRs were net settled for 49 thousand common shares. (2)Cenovus replacement stock options were net settled for 2 thousand common shares.
Summary of Stock-Based Compensation | The following table summarizes the stock-based compensation expense (recovery) recorded for all plans:
| Three Months Ended |  | Nine Months Ended
For the periods ended September 30, | 2023 |  | 2022 |  | 2023 |  | 2022
Stock Options With Associated Net Settlement Rights | 2 |  | 3 |  | 9 |  | 12
Cenovus Replacement Stock Options | 6 |  | (5) |  | (1) |  | 36
Performance Share Units | 98 |  | 1 |  | 125 |  | 66
Restricted Share Units | 35 |  | 4 |  | 56 |  | 65
Deferred Share Units | 10 |  | (4) |  | 7 |  | 14
Stock-Based Compensation Expense (Recovery) | 151 |  | (1) |  | 196 |  | 193

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