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Stock-based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Allocation of Stock-Based Compensation by Functional Category

The following table details the amount of stock-based compensation that is allocated to functional expense categories for each of the years in the three-year period ended December 31, 2020 (in thousands):

	2020						2019							2018
Direct operating expense	$	1,078						$	1,928						$	2,109
Brokered natural gas and marketing expense		1,416							1,856							1,452
Exploration expense		1,279							1,566							1,921
General and administrative expense		32,905							35,061							43,806
Termination costs		2,165							1,971							—
Total stock-based compensation	$	38,843						$	42,382						$	49,288

Restricted Stock and Restricted Stock Units Outstanding

The following is a summary of the status of our non-vested restricted stock outstanding at December 31, 2020:

	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, 2019		2,002,239			$	12.32				411,126			$	10.94
Granted		4,462,711				3.42				3,535,093				3.18
Vested		(3,063,652	)			6.93				(2,678,013	)			3.94
Forfeited		(585,438	)			8.03				(81,570	)			3.02
Outstanding at December 31, 2020		2,815,860			$	4.97				1,186,636			$	4.18

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The following assumptions were used to estimate the fair value of the TSR-PSUs granted during the years ended December 31, 2020, 2019 and 2018:

		Year Ended December 31, 2019
		2020				2019				2018
Risk-free interest rate			1.4	%			2.44	%			2.42	%
Expected annual volatility			65	%			46	%			48	%
Grant date fair value per unit		$	3.85			$	11.34			$	18.51

Summary of Change in Post Retirement Benefit Obligation

The change in our post-retirement benefit obligation is as follows (in thousands):

Change in Benefit Obligation:		2020				2019
Benefit obligation at beginning of year		$	1,957			$	1,355
Service cost			80				88
Interest cost			50				68
Actuarial (gain) loss			(39	)			532
Benefits paid			(95	)			(86	)
Benefit obligation at end of year		$	1,953			$	1,957
Amounts recognized in the consolidated balance sheet:
Long-term liabilities		$	1,953			$	1,957
Components of Net Periodic Post Retirement Benefit Cost:
Service cost		$	80			$	88
Interest cost			50				68
Amortization of prior service cost			369				369
Net periodic post retirement costs (recognized in general and administrative expense)		$	499			$	525
Other Changes in Benefit Obligations in Other Comprehensive Income (Loss):
Net (gain) loss		$	(39	)		$	532
Prior service cost			—				—
Amortization of prior service cost			(369	)			(369	)
Total recognized in other comprehensive (loss) income		$	(408	)		$	163
Total recognized in net periodic benefit cost and other comprehensive income		$	91			$	688

Summary of Assumptions Used to Determine Benefit Obligation

The following summarizes the assumptions used to determine the benefit obligation at December 31, 2020 and 2019:

		December 31, 2020					December 31, 2019
Weighted average assumptions used to determine benefit obligation:
Discount rate			1.9	%				2.9	%
Assumed weighted average healthcare cost trend rates:
Initial healthcare trend rate			6.5	%				6.5	%
Ultimate trend rate			4.5	%				4.5	%
Year ultimate trend rate reached			2024					2023

Performance-based PG-PSUs and RG-PSUs

Summary of Non-Vested Awards Activities

The following is a summary of our non-vested PG/RG-PSUs award activities at December

	Number of Units				Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019		881,573			$	11.70
Units granted (a)		777,847				2.33
Vested		(101,150	)			15.32
Forfeited (b)		(459,168	)			2.33
Outstanding at December 31, 2020		1,099,102			$	5.92

^(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.

^(b) For RG-PSU’s tranches granted in 2018, 2019 and 2020 which are set to vest in early 2021, the performance metric is not expected to be met and are considered forfeited. For PG-PSU’s tranches granted in 2018, 2019 and 2020 which are set to vest in early 2021, the payout is estimated at 23% with the remainder considered to be forfeited.

Performance Based TSR - PSUs

Summary of Non-Vested Awards Activities

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, 2019			993,452			$	19.00
Granted (a)			610,155				3.85
Vested and issued (b)			(278,184	)			26.12
Forfeited			(75,899	)			26.66
Outstanding at December 31, 2020			1,249,524			$	9.55

^(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 278,184 TSR-PSUs awards issued related to 2017 performance where the return on our common stock was in the 60^th percentile for the March 2017 grant and the 80^th percentile for the May 2017 grant. The remaining 2017 awards were considered to be forfeited.

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