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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2020
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 statements of comprehensive 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 statements of comprehensive earnings.
|  | Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |
G&A |  | $ | 58 |  |  | $ | 64 |
Exploration expenses |  |  | 1 |  |  |  | 1 |
Restructuring and transaction costs |  |  | 11 |  |  |  | 27 |
Total |  | $ | 70 |  |  | $ | 92 |
Related income tax benefit |  | $ | — |  |  | $ | 13 |
Under its approved long-term incentive plan, Devon granted share-based awards to certain employees in the first nine months of 2020. The following table presents a summary of Devon’s unvested restricted stock awards, performance-based restricted stock awards and performance share units granted under the plan.
|  |  |  |  | Performance-Based |  |  | Performance |
|  | Restricted Stock Awards |  |  | Restricted Stock Awards |  |  | Share Units |
|  | Awards |  |  | 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 12/31/19 |  |  | 4,984 |  |  | $ | 29.65 |  |  |  | 153 |  |  | $ | 33.88 |  |  |  | 2,155 |  |  |  |  |  | $ | 40.35 |
Granted |  |  | 3,056 |  |  | $ | 21.90 |  |  |  | — |  |  | $ | — |  |  |  | 688 |  |  |  |  |  | $ | 27.89 |
Vested |  |  | (2,093 | ) |  | $ | 29.11 |  |  |  | (109 | ) |  | $ | 29.51 |  |  |  | (455 | ) |  |  |  |  | $ | 52.56 |
Forfeited |  |  | (294 | ) |  | $ | 24.44 |  |  |  | — |  |  | $ | — |  |  |  | (385 | ) |  |  |  |  | $ | 47.68 |
Unvested at 9/30/20 |  |  | 5,653 |  |  | $ | 25.93 |  |  |  | 44 |  |  | $ | 44.70 |  |  |  | 2,003 |  |  | (1 | ) |  | $ | 31.89 |
(1) | A maximum of 4.0 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 2020, as indicated in the previous summary table.
|  | 2020 |
Grant-date fair value |  | $ | 27.89 |
Risk-free interest rate |  | 1.36% |
Volatility factor |  | 38.4% |
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 September 30, 2020.
|  |  |  |  |  | Performance-Based |  |  |  |  |
|  | Restricted Stock |  |  | Restricted Stock |  |  | Performance |
|  | Awards |  |  | Awards |  |  | Share Units |
Unrecognized compensation cost |  | $ | 81 |  |  | $ | — |  |  | $ | 15 |
Weighted average period for recognition (years) |  |  | 2.6 |  |  |  | 0.7 |  |  |  | 1.7 |

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- Definition The entire disclosure for share-based payment arrangement. + 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 + Details
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