XML 52 R41.htm IDEA: XBRL DOCUMENT

Stock-based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2019

The following details the allocation of stock-based compensation to functional expense categories (in thousands):

		Three Months Ended June 30,				Six Months Ended June 30,
		2019		2018		2019		2018
Direct operating expense	$	549	$	539	$	1,140	$	1,130
Brokered natural gas and marketing expense		553		313		1,001		598
Exploration expense		388		371		876		1,122
General and administrative expense		9,500		8,814		19,138		32,725
Termination costs		26		—		26		—
Total stock-based compensation	$	11,016	$	10,037	$	22,181	$	35,575

The following is a summary of the status of our non-vested restricted stock outstanding at June 30, 2019:

	Restricted Stock Equity Awards					Restricted Stock Liability Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018		1,386,088		$	20.04		184,579		$	15.65
Granted		2,792,438			10.59		1,171,513			10.32
Vested		(869,674	)		15.77		(499,913	)		10.82
Forfeited		(275,991	)		13.39		—			—
Outstanding at June 30, 2019		3,032,861		$	13.17		856,179		$	11.17

The following assumptions were used to estimate the fair value of PSUs granted during first six months 2019 and 2018:

	Six Months Ended June 30,
	2019			2018
Risk-free interest rate		2.4	%		2.4	%
Expected annual volatility		46	%		47	%
Grant date fair value per unit	$	11.34		$	18.51

Information with respect to our SARs activity is summarized below.

	Shares		Weighted Average Exercise Price
Outstanding at December 31, 2018	1,104		$	81.74
Expired	(1,104	)		81.74
Outstanding at June 30, 2019	—		$	—

The following is a summary of our non-vested PG/RG-PSUs awards outstanding at June 30,


	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018	536,798		$	15.61
Units granted ^(a)	345,202			10.32
Forfeited	(427	)		15.65
Outstanding at June 30, 2019	881,573		$	11.70

^(a)	^{Amounts granted reflect the number of performance units granted; however, the actual payout of shares will be between zero and 200% depending on achievement of specifically identified performance targets.}

The following is a summary of our non-vested TSR – PSUs award activities:

	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018		1,067,886		$	27.81
Units granted ^(a)		314,152			11.34
Vested and issued ^(b)		(12,283	)		30.47
Forfeited		(376,303	)		37.25
Outstanding at June 30, 2019		993,452		$	19.00

^(a)	These amounts reflect the number of performance units granted. The actual payout of shares may be between zero and 200% of the performance units granted depending on the total shareholder return ranking compared to our peer companies at the vesting date.

^(b)	Includes 12,283 TSR-PSUs awards issued related to the 2016 performance period where the return on our common stock was in the 20^th percentile for the February 2016 grant. The remaining February 2016 awards are considered to be forfeited.