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Stock-Based Compensation Plans (Tables) | 9 Months Ended
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Sep. 30, 2024
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, 2024 | (thousands) |  | (thousands)
Stock Options With Associated Net Settlement Rights | 8,664 |  | 4,777 |
Cenovus Replacement Stock Options | 388 |  | 388 |
Performance Share Units | 7,202 |  | — |
Restricted Share Units | 8,171 |  | — |
Deferred Share Units | 1,736 |  | 1,736 |
The weighted average exercise price of NSRs and Cenovus replacement stock options outstanding as at September 30, 2024, were $17.79 and $3.54, respectively.
| Units Granted |  | Units Vested and Exercised/ Paid Out
For the nine months ended September 30, 2024 | (thousands) |  | (thousands)
Stock Options With Associated Net Settlement Rights | 2,402 |  | 5,217
Cenovus Replacement Stock Options | — |  | 574
Performance Share Units | 6,354 |  | 8,899
Restricted Share Units | 3,385 |  | 2,281
Deferred Share Units | 187 |  | 185
| Weighted Average Exercise Price |  | Units Exercised
For the nine months ended September 30, 2024 | ($/unit) |  | (thousands)
Stock Options With Associated Net Settlement Rights Exercised for Net Cash Payment | 10.54 |  | 4,426
Stock Options With Associated Net Settlement Rights Exercised and Net Settled for Common Shares (1) | 11.98 |  | 791
Cenovus Replacement Stock Options Exercised and Net Settled for Cash | 7.78 |  | 537
Cenovus Replacement Stock Options Exercised and Net Settled for Common Shares (2) | 5.17 |  | 37
(1)NSRs were net settled for 562 thousand common shares. (2)Cenovus replacement stock options were net settled for 29 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, | 2024 |  | 2023 |  | 2024 |  | 2023
Stock Options With Associated Net Settlement Rights | 2 |  | 2 |  | 9 |  | 9
Cenovus Replacement Stock Options | (2) |  | 6 |  | 1 |  | (1)
Performance Share Units | (4) |  | 98 |  | 57 |  | 125
Restricted Share Units | (2) |  | 35 |  | 50 |  | 56
Deferred Share Units | (6) |  | 10 |  | 6 |  | 7
Stock-Based Compensation Expense (Recovery) | (12) |  | 151 |  | 123 |  | 196

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