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Share-Based Compensation | 6 Months Ended
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Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation | 4.Share-Based Compensation The table below presents the share-based compensation expense included in Devon’s accompanying consolidated comprehensive statements of earnings. The vesting for certain share-based awards was accelerated in conjunction with the reduction of workforce described in Note 6 and is included in restructuring and transaction costs in the accompanying consolidated comprehensive statements of earnings.
|  | Six Months Ended June 30, |
|  | 2019 |  |  | 2018 |
G&A |  | $ | 44 |  |  | $ | 59 |
Exploration expenses |  |  | 1 |  |  |  | 2 |
Restructuring and transaction costs |  |  | 24 |  |  |  | 26 |
Total |  | $ | 69 |  |  | $ | 87 |
Related income tax benefit |  | $ | 10 |  |  | $ | — |
Under its approved long-term incentive plan, Devon granted share-based awards to certain employees in the first six months of 2019. The following table presents a summary of Devon’s unvested restricted stock awards and units, performance-based restricted stock awards and performance share units granted under the plan.
|  | Restricted Stock |  |  | Performance-Based |  |  | Performance |
|  | Awards and Units |  |  | Restricted Stock Awards |  |  | Share Units |
|  | Awards and Units |  |  | Weighted Average Grant-Date Fair Value |  |  | Awards |  |  | Weighted Average Grant-Date Fair Value |  |  | Units |  |  |  |  |  | Weighted Average Grant-Date Fair Value |
|  | (Thousands, except fair value data) |
Unvested at 12/31/18 |  |  | 5,963 |  |  | $ | 35.47 |  |  |  | 302 |  |  | $ | 35.93 |  |  |  | 2,868 |  |  |  |  |  | $ | 30.14 |
Granted |  |  | 4,383 |  |  | $ | 25.49 |  |  |  | — |  |  | $ | — |  |  |  | 741 |  |  |  |  |  | $ | 28.97 |
Vested |  |  | (4,295 | ) |  | $ | 33.60 |  |  |  | (141 | ) |  | $ | 37.48 |  |  |  | (145 | ) |  |  |  |  | $ | 37.23 |
Forfeited |  |  | (557 | ) |  | $ | 27.16 |  |  |  | — |  |  | $ | — |  |  |  | (1,276 | ) |  |  |  |  | $ | 11.34 |
Unvested at 6/30/19 |  |  | 5,494 |  |  | $ | 29.80 |  |  |  | 161 |  |  | $ | 34.56 |  |  |  | 2,188 |  |  | (1 | ) |  | $ | 40.25 |
(1) | A maximum of 4.4 million common shares could be awarded based upon Devon’s final TSR ranking.
The following table presents the assumptions related to the performance share units granted in 2019, as indicated in the previous summary table.
|  | 2019 |
Grant-date fair value |  | $ | 28.43 |  |  | — |  | $ | 29.53 |
Risk-free interest rate |  | 2.48% |
Volatility factor |  | 39.1% |
Contractual term (years) |  | 2.89 |
The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with unvested awards and units as of June 30, 2019.
|  |  |  |  |  | Performance-Based |  |  |  |  |
|  | Restricted Stock |  |  | Restricted Stock |  |  | Performance |
|  | Awards and Units |  |  | Awards |  |  | Share Units |
Unrecognized compensation cost |  | $ | 116 |  |  | $ | — |  |  | $ | 25 |
Weighted average period for recognition (years) |  |  | 2.8 |  |  |  | 1.9 |  |  |  | 1.7 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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