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Share and Incentive-Based Compensation | 6 Months Ended
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Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share and Incentive-Based Compensation | Share and Incentive-Based Compensation Share-Based Compensation Omnibus Incentive Plan. The Company's Omnibus Incentive Plan became effective in October 2016. The Omnibus Incentive Plan authorizes the issuance of up to 4.6 million shares of SandRidge common stock to eligible persons including non-employee directors of the Company, employees of the Company or any of its affiliates, and certain consultants and advisers to the Company or any of its affiliates. The types of awards that may be granted under the Omnibus Incentive Plan include stock options, restricted stock, performance awards and other forms of awards granted or denominated in shares of the Company’s common stock, as well as certain cash-settled awards. At June 30, 2018, the Company had restricted stock awards outstanding under the Omnibus Incentive Plan. Restricted Stock Awards. The Company’s restricted stock awards are equity-classified awards and are valued based upon the market value of the Company’s common stock on the date of grant. Vesting for certain restricted stock awards was accelerated in connection with executive terminations and a reduction in force in the first quarter of 2018 with the majority of the remaining restricted stock awards vesting in June 2018 as a result of the accelerated vesting upon change in control event discussed in Note 3. The remaining outstanding restricted shares at June 30, 2018 will generally vest over either a one-year period or three-year period. The following table presents a summary of the Company’s unvested restricted stock awards:
| Number of Shares |  | Weighted Average Grant Date Fair Value
| (In thousands) |  |
Unvested restricted shares outstanding at December 31, 2017 | 1,105 |  | $ | 22.62
Granted | 5 |  | $ | 15.15
Vested | (1,049) |  | $ | 22.71
Forfeited / Canceled | (36) |  | $ | 22.11
Unvested restricted shares outstanding at June 30, 2018 | 25 |  | $ | 18.34
The aggregate intrinsic value of restricted stock that vested during the three and six-month periods ended June 30, 2018 was approximately $12.5 million and $15.9 million, respectively, based on the stock price at the time of vesting. Performance Share Units. In February 2017, the Company granted equity-classified awards in the form of performance share units. The vesting for certain performance share units was accelerated in connection with executive terminations and a reduction in force in the first quarter of 2018 with all remaining units vesting in June 2018 as a result of the accelerated vesting upon change in control event discussed in Note 3. All performance share units for which vesting was accelerated were settled in shares of the Company’s common stock with one share of common stock being issued per performance share unit. The following table presents a summary of the Company’s performance share units:
| Number of Units |  | Fair Value per Unit at June 30, 2018
| (In thousands) |  |
Unvested performance share units outstanding at December 31, 2017 | 183 |  |
Granted | — |  |
Vested | (177) |  |
Forfeited / Canceled | (6) |  |
Unvested performance share units outstanding at June 30, 2018 | — |  | $ | —
The aggregate intrinsic value of performance share units that vested during the three and six-month periods ended June 30, 2018 was approximately $2.2 million and $2.7 million, respectively, based on the stock price at the time of vesting. Incentive-Based Compensation Performance Units. In October 2016, the Company granted liability-classified awards in the form of performance units. The vesting for certain performance units was accelerated in connection with executive terminations and a reduction in force in the first quarter of 2018 with all remaining units vesting in June 2018 as a result of the accelerated vesting upon change in control event discussed in Note 3. The accelerated performance units were paid at the issuance value of $100 each. The value for previous vestings was determined by annual scorecard results. The following table presents a summary of the Company’s performance units:
| Number of Units |  | Fair Value per Unit at June 30, 2018
| (In thousands) |  |
Unvested performance units outstanding at December 31, 2017 | 49 |  |
Granted | — |  |
Vested | (48) |  |
Forfeited / Canceled | (1) |  |
Unvested performance units outstanding at June 30, 2018 | — |  | $ | —
The aggregate intrinsic value of performance units that vested during the three and six-month periods ended June 30, 2018 was approximately $3.7 million and $4.8 million, respectively. The following tables summarize share and incentive-based compensation for the three and six-month periods ended June 30, 2018, and 2017 (in thousands):
|  | Recurring Compensation Expense(1) |  | Executive Terminations(2)(3) |  | Reduction in Force(2)(3) |  | Change in Control(4) |  | Total
Three Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |
Equity-classified awards: |  |  |  |  |  |  |  |  |  |
Restricted stock awards |  | $ | 603 |  | $ | — |  | $ | 92 |  | $ | 5,181 |  | $ | 5,876
Performance share units |  | 31 |  | 82 |  | 7 |  | 610 |  | 730
Total share-based compensation expense |  | 634 |  | 82 |  | 99 |  | 5,791 |  | 6,606
Liability-classified awards: |  |  |  |  |  |  |  |  |  |
Performance units |  | 227 |  | (216) |  | (31) |  | 1,309 |  | 1,289
Total share and incentive-based compensation expense |  | 861 |  | (134) |  | 68 |  | 7,100 |  | 7,895
Less: Capitalized compensation expense |  | (124) |  | — |  | — |  | (555) |  | (679)
Share and incentive-based compensation expense, net |  | $ | 737 |  | $ | (134) |  | $ | 68 |  | $ | 6,545 |  | $ | 7,216
Three Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |  |
Equity-classified awards: |  |  |  |  |  |  |  |  |  |
Restricted stock awards |  | $ | 4,986 |  | $ | 1,825 |  | $ | — |  | $ | — |  | $ | 6,811
Performance share units |  | 411 |  | — |  | — |  | — |  | 411
Total share-based compensation expense |  | 5,397 |  | 1,825 |  | — |  | — |  | 7,222
Liability-classified awards: |  |  |  |  |  |  |  |  |  |
Performance units |  | 972 |  | — |  | — |  | — |  | 972
Total share and incentive-based compensation expense |  | 6,369 |  | 1,825 |  | — |  | — |  | 8,194
Less: Capitalized compensation expense |  | (967) |  | — |  | — |  | — |  | (967)
Share and incentive-based compensation expense, net |  | $ | 5,402 |  | $ | 1,825 |  | $ | — |  | $ | — |  | $ | 7,227
____________________ 1. Recorded in general and administrative expense in the accompanying consolidated statements of operations. 2. Recorded in employee termination benefits in the accompanying consolidated statements of operations. 3. Three-month period ended June 30, 2018, includes adjustment to first quarter 2018 accrued share and incentive-based compensation to reflect actuals paid. 4. Recorded in accelerated vesting upon change in control in the accompanying consolidated statements of operations. The Board is re-examining the compensation practices of the Company.
|  | Recurring Compensation Expense(1) |  | Executive Terminations(2)(3) |  | Reduction in Force(2)(3) |  | Change in Control(4) |  | Total
Six Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |
Equity-classified awards: |  |  |  |  |  |  |  |  |  |
Restricted stock awards |  | $ | 3,379 |  | $ | 8,140 |  | $ | 3,777 |  | $ | 5,181 |  | $ | 20,477
Performance share units |  | 359 |  | 1,056 |  | 158 |  | 610 |  | 2,183
Total share-based compensation expense |  | 3,738 |  | 9,196 |  | 3,935 |  | 5,791 |  | 22,660
Liability-classified awards: |  |  |  |  |  |  |  |  |  |
Performance units |  | 776 |  | 2,151 |  | 558 |  | 1,309 |  | 4,794
Total share and incentive-based compensation expense |  | 4,514 |  | 11,347 |  | 4,493 |  | 7,100 |  | 27,454
Less: Capitalized compensation expense |  | (334) |  | — |  | — |  | (555) |  | (889)
Share and incentive-based compensation expense, net |  | $ | 4,180 |  | $ | 11,347 |  | $ | 4,493 |  | $ | 6,545 |  | $ | 26,565
Six Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |  |
Equity-classified awards: |  |  |  |  |  |  |  |  |  |
Restricted stock awards |  | $ | 8,615 |  | $ | 1,825 |  | $ | — |  | $ | — |  | $ | 10,440
Performance share units |  | 610 |  | — |  | — |  | — |  | 610
Total share-based compensation expense |  | 9,225 |  | 1,825 |  | — |  | — |  | 11,050
Liability-classified awards: |  |  |  |  |  |  |  |  |  |
Performance units |  | 1,562 |  | — |  | — |  | — |  | 1,562
Total share and incentive-based compensation expense |  | 10,787 |  | 1,825 |  | — |  | — |  | 12,612
Less: Capitalized compensation expense |  | (1,629) |  | — |  | — |  | — |  | (1,629)
Share and incentive-based compensation expense, net |  | $ | 9,158 |  | $ | 1,825 |  | $ | — |  | $ | — |  | $ | 10,983
____________________ 1. Recorded in general and administrative expense in the accompanying consolidated statements of operations. 2. Recorded in employee termination benefits in the accompanying consolidated statements of operations. 3. Six-month period ended June 30, 2018, includes adjustment to first quarter 2018 accrued share and incentive-based compensation to reflect actuals paid. 4. Recorded in accelerated vesting upon change in control in the accompanying consolidated statements of operations. The Board is re-examining the compensation practices of the Company.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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