The following table summarizes severance accrual activity in connection the EnVen Acquisition, QuarterNorth Acquisition and TLCS Divestiture included in “Other current liabilities” and “Other long-term liabilities” on the Condensed Consolidated Balance Sheets as of March 31, 2024 (in thousands):


Severance accrual at December 31, 2023	$	6,295
Accrual additions		17,914
Benefit payments		(10,258	)
Severance accrual at March 31, 2024		13,951
Less: Current portion at March 31, 2024		13,876
Long-term portion at March 31, 2024	$	75

The above table includes involuntary termination benefits that are being provided pursuant to a one-time benefit arrangement that is being spread over the future service period through the termination date. The Company expects to incur an additional $7.4 million in severance expense related to the QuarterNorth Acquisition. Involuntary termination benefits are also being provided pursuant to contractual termination benefits required by the terms of existing employment agreements. Severance costs are reflected in “General and administrative expense” on the Condensed Consolidated Statements of Operations.

Restricted Stock Units (“RSUs”) — The following table summarizes RSU activity under the Talos Energy Inc. 2021 Long Term Incentive Plan (the “2021 LTIP”) for the three months ended March 31, 2024:


	Restricted Stock Units			Weighted Average Grant Date Fair Value
Unvested RSUs at December 31, 2023		2,306,361		$	14.89
Granted		1,435,516		$	13.27
Vested		(1,357,605	)	$	13.56
Forfeited		(41,691	)	$	15.14
Unvested RSUs at March 31, 2024(1)		2,342,581		$	14.66

(1)

As of March 31, 2024, 32,213 of the unvested RSUs were accounted for as liability awards in “Accrued liabilities” on the Condensed Consolidated Balance Sheets.

Performance Share Units (“PSUs”) — The following table summarizes PSU activity under the 2021 LTIP for the three months ended March 31, 2024:


	Performance Share Units			Weighted Average Grant Date Fair Value
Unvested PSUs at December 31, 2023		1,016,649		$	21.30
Forfeited		(48,995	)	$	20.16
Unvested PSUs at March 31, 2024		967,654		$	21.36

Share-based compensation costs associated with RSUs, PSUs and other awards are reflected as “General and administrative expense,” on the Condensed Consolidated Statements of Operations, net amounts capitalized to “Proved Properties,” on the Condensed Consolidated Balance Sheets. Because of the non-cash nature of share-based compensation, the expensed portion of share-based compensation is added back to net income in arriving at “Net cash provided by (used in) operating activities” on the Condensed Consolidated Statements of Cash Flows.

The following table presents the amount of costs expensed and capitalized (in thousands):


	Three Months Ended March 31,
	2024		2023
Share-based compensation costs	$	4,615	$	7,191
Less: Amounts capitalized to oil and gas properties		1,861		3,253
Total share-based compensation expense	$	2,754	$	3,938