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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Share-based Compensation Plans | Our share-based compensation plans at December 31, 2020 are as follows:
|  | Shares |  |  | Shares Underlying |  |  | Shares |
|  | Authorized |  |  | Awards |  |  | Available |
Plan Name |  | for Grant |  |  | Outstanding |  |  | for Grant |
Amended and Restated Plan |  |  | 28,400,000 |  |  |  | 6,634,513 |  |  |  | 4,986,392 |
Patterson-UTI Energy, Inc. 2005 Long-Term Incentive Plan, as amended |  |  | — |  |  |  | 1,793,500 |  |  |  | — |
Stock Option Activity | Stock option activity for the year ended December 31, 2020 follows:
|  |  |  |  |  | Weighted Average |
|  | Shares |  |  | Exercise Price Per Share |
Outstanding at beginning of year |  |  | 4,766,150 |  |  | $ | 20.62 |
Exercised |  |  | — |  |  | $ | — |
Expired |  |  | (740,000 | ) |  | $ | 15.10 |
Outstanding at end of year |  |  | 4,026,150 |  |  | $ | 21.63 |
Exercisable at end of year |  |  | 4,011,150 |  |  | $ | 21.64 |
Additional Information with Respect to Options Granted, Vested and Exercised | Additional information with respect to options granted, vested and exercised during the years ended December 31, 2020, 2019 and 2018 follows (in thousands, except per share data):
|  | 2020 |  |  | 2019 |  |  | 2018 |
Weighted-average grant date fair value of stock options granted (per share) |  | NA |  |  | NA |  |  | NA |
Aggregate grant date fair value of stock options vested during the year |  | $ | 89 |  |  | $ | 543 |  |  | $ | 1,954 |
Aggregate intrinsic value of stock options exercised |  | $ | — |  |  | $ | — |  |  | $ | — |
Restricted Stock Activity | Restricted stock activity for the year ended December 31, 2020 follows:
|  |  |  |  |  | Weighted Average |
|  |  |  |  |  | Grant Date Fair |
|  | Shares |  |  | Value Per Share |
Non-vested restricted stock outstanding at beginning of year |  |  | 72,051 |  |  | $ | 21.59 |
Vested |  |  | (72,051 | ) |  | $ | 21.59 |
Forfeited |  |  | — |  |  | $ | — |
Non-vested restricted stock outstanding at end of year |  |  | — |  |  | $ | — |
Restricted Stock Unit Activity | Restricted stock unit activity for the year ended December 31, 2020 follows:
|  |  |  |  |  |  |  |  |  | Weighted Average |
|  | Time |  |  | Performance |  |  | Grant Date Fair |
|  | Based |  |  | Based |  |  | Value Per Share |
Non-vested restricted stock units outstanding at beginning of year |  |  | 2,631,726 |  |  |  | 397,315 |  |  | $ | 15.81 |
Granted |  |  | 1,691,246 |  |  |  | — |  |  | $ | 4.25 |
Vested (1) |  |  | (1,285,658 | ) |  |  | (38,000 | ) |  | $ | 16.32 |
Forfeited |  |  | (295,766 | ) |  |  | — |  |  | $ | 13.39 |
Non-vested restricted stock units outstanding at end of year |  |  | 2,741,548 |  |  |  | 359,315 |  |  | $ | 9.52 |
(1) | All of the performance-based restricted stock units that vested during 2020 were granted in 2017.
Performance Units | The total target number of shares with respect to the Performance Units for the years 2015-2020 is set forth below:
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
|  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |
|  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |
Target number of shares |  |  | 500,500 |  |  |  | 489,800 |  |  |  | 310,700 |  |  |  | 186,198 |  |  |  | 185,000 |  |  |  | 190,600 |
Fair Value of Performance Units | The fair value of the Performance Units is set forth below (in thousands):
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
|  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |
|  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |
Aggregate fair value at date of grant |  | $ | 826 |  |  | $ | 9,958 |  |  | $ | 8,004 |  |  | $ | 5,780 |  |  | $ | 3,854 |  |  | $ | 4,052 |
Compensation Expense Associated with Performance Units | Compensation expense associated with the Performance Units is set forth below (in thousands):
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
|  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |  |  | Performance |
|  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |  |  | Unit Awards |
Year ended December 31, 2020 |  | $ | 206 |  |  | $ | 3,319 |  |  | $ | 2,668 |  |  | $ | 642 |  |  | NA |  |  | NA |
Year ended December 31, 2019 |  | NA |  |  | $ | 2,489 |  |  | $ | 2,668 |  |  | $ | 1,927 |  |  | $ | 321 |  |  | NA |
Year ended December 31, 2018 |  | NA |  |  | NA |  |  | $ | 2,001 |  |  | $ | 1,927 |  |  | $ | 1,285 |  |  | $ | 338 |
Employee Stock Option |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Additional Information with Respect to Non-vested Options | Additional information as of December 31, 2020 with respect to these non-vested options follows (dollars in thousands):
Aggregate intrinsic value |  | $ | — |
Weighted-average remaining contractual term |  | 5.71 years |
Weighted-average remaining expected term |  | 0.71 years |
Weighted-average remaining vesting period |  | 0.71 years |
Unrecognized compensation cost |  | $ | 63 |
Restricted Stock Units (RSUs) |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Additional Information with Respect to Non-vested Shares | Additional information as of December 31, 2020 with respect to these non-vested restricted stock units follows (dollars in thousands):
Aggregate intrinsic value |  | $ | 15,977 |
Weighted-average remaining vesting period |  | 1.76 years |
Unrecognized compensation cost |  | $ | 20,623 |

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