XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.25.3

Equity Incentive Plan | 9 Months Ended
--- | ---
Sep. 30, 2025
Equity [Abstract] |
Equity Incentive Plan | Equity Incentive Plan The Vital Energy, Inc. Omnibus Equity Incentive Plan (the "Equity Incentive Plan") provides for the granting of incentive awards in the form of restricted stock awards, stock option awards, performance share unit awards, restricted stock unit awards, stock appreciation rights, stock bonus awards and other awards. The Equity Incentive Plan allows for the issuance of up to 3,332,500 shares. See Note 9 in the 2024 Annual Report for additional discussion of the Company's equity-based compensation awards. The following table presents activity for equity-based compensation awards for the nine months ended September 30, 2025:
|  | Equity Awards |  | Liability Awards
(in thousands) |  | Restricted stock awards |  |  |  | Share-settled performance share unit awards(1) |  | Cash-settled performance share unit awards(2) |  |
Outstanding as of December 31, 2024 |  | 665 |  |  |  |  | 48 |  |  | 215 |  |  |
Granted |  | 692 |  |  |  |  | — |  |  | 192 |  |  |
Forfeited |  | (128) |  |  |  |  | — |  |  | (4) |  |  |
Vested |  | (345) |  |  |  |  | (48) |  |  | — |  |  |
Outstanding as of September 30, 2025 |  | 884 |  |  |  |  | — |  |  | 403 |  |  |
_____________________________________________________________________________ (1)The share-settled performance share unit awards granted on February 22, 2022 had a performance period of January 1, 2022 to December 31, 2024 and, as their market and performance criteria were satisfied, resulted in an 82% payout. As such, the granted awards vested and were converted into 39,691 shares of Common Stock during the first quarter of 2025 based on this 82% payout. (2)On February 20, 2025, the Company granted cash-settled performance share unit awards with a performance period of January 1, 2025 through December 31, 2027. The market criteria consists of: (i) relative total shareholder return comparing the Company's shareholder return to the shareholder return of the exploration and production companies listed in the Russell 2000 Index and (ii) absolute shareholder return. The performance criteria consists of: (i) earnings before interest, taxes, depreciation, amortization and exploration expense and three-year total debt reduction and (ii) an inventory quality component. Any units earned are expected to be paid in cash during the first quarter following the completion of the requisite service period, based on the achievement of market and performance criteria, and the payout can range from 0% to 225%. As of September 30, 2025, total unrecognized cost related to equity-based compensation awards was $25.7 million, of which $3.5 million was attributable to liability awards which will be settled in cash rather than shares. Such cost will be recognized on a straight-line basis over an expected weighted-average period of 1.94 years. Equity-based compensation The following table reflects equity-based compensation expense for the periods presented:
|  | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Equity awards: |  |  |  |  |  |  |  |
Restricted stock awards |  | $ | 4,172 |  |  | $ | 4,421 |  |  | $ | 12,752 |  |  | $ | 12,615 |
Share-settled performance share unit awards |  | — |  |  | 335 |  |  | 281 |  |  | 1,354 |
Total share-settled equity-based compensation, gross |  | 4,172 |  |  | 4,756 |  |  | 13,033 |  |  | 13,969 |
Less: amounts capitalized |  | (1,012) |  |  | (943) |  |  | (3,036) |  |  | (2,721) |
Total share-settled equity-based compensation, net |  | 3,160 |  |  | 3,813 |  |  | 9,997 |  |  | 11,248 |
Liability awards: |  |  |  |  |  |  |  |
Cash-settled performance unit awards |  | 328 |  |  | (411) |  |  | (42) |  |  | 1,816 |
Total cash-settled equity-based compensation, gross |  | 328 |  |  | (411) |  |  | (42) |  |  | 1,816 |
Less: amounts capitalized |  | — |  |  | — |  |  | (2) |  |  | (14) |
Total cash-settled equity-based compensation, net |  | 328 |  |  | (411) |  |  | (44) |  |  | 1,802 |
Total equity-based compensation, net |  | $ | 3,488 |  |  | $ | 3,402 |  |  | $ | 9,953 |  |  | $ | 13,050 |

X
- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/712/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/710/tableOfContent Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
Name: | us-gaap_CompensationAndEmployeeBenefitPlansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration