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Share-Based Compensation

6 Months Ended

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

X

- 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

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- References

No definition available.

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