W&T Offshore, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation and Cash-Based Incentive Compensation (Tables)

Share-Based Compensation and Cash-Based Incentive Compensation (Tables)

9 Months Ended

Sep. 30, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Share Activity Related to Restricted Stock Units

A summary of activity related to RSUs during the nine months ended September 30, 2018 is as follows:

	Restricted Stock Units
				Weighted Average
				Grant Date Fair
	Units			Value Per Unit
Nonvested, December 31, 2017		5,765,251		$	2.48
Granted		986,333			6.90
Vested		(28,503	)		2.38
Forfeited/adjustments		(113,014	)		2.45
Nonvested, September 30, 2018		6,610,067			3.14

Schedule of Outstanding Restricted Stock Units Issued to Eligible Employees

For the outstanding RSUs issued to the eligible employees as of September 30, 2018, vesting is expected to occur as follows (subject to any forfeitures):

	Restricted Stock Units
2018		3,657,375
2019		1,966,359
2020		986,333
Total		6,610,067

Schedule of Restricted Stock Activity

A summary of activity related to Restricted Shares is as follows:

	Restricted Shares
				Weighted Average
				Grant Date Fair
	Shares			Value Per Share
Nonvested, December 31, 2017		246,528		$	2.27
Granted		41,544			6.74
Vested		(106,240	)		2.64
Nonvested, September 30, 2018		181,832			3.08

Schedule of Outstanding Restricted Stock Shares Issued to Non-employee Directors

For the outstanding Restricted Shares issued to the non-employee directors as of September 30, 2018, vesting is expected to occur as follows (subject to any forfeitures):

	Restricted Shares
2019		105,012
2020		62,972
2021		13,848
Total		181,832

Summary of Incentive Compensation Expense under Share-Based Payment Arrangements and Related Tax Benefit

A summary of incentive compensation expense under share-based payment arrangements and the related tax benefit is as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Share-based compensation expense from:
Restricted stock units	$	1,304	$	1,914	$	3,598	$	6,114
Restricted Shares		70		70		210		210
Total	$	1,374	$	1,984	$	3,808	$	6,324
Share-based compensation tax benefit:
Tax benefit computed at the statutory rate	$	289	$	694	$	800	$	2,213

Summary of Compensation Expense Related to Share-Based Awards and Cash-Based Awards

A summary of compensation expense related to share-based awards and cash-based awards is as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Share-based compensation included in:
General and administrative expenses	$	1,374	$	1,984	$	3,808	$	6,324
Cash-based incentive compensation included in:
Lease operating expense		837		930		2,240		1,324
General and administrative expenses		1,534		2,287		5,597		3,291
Total charged to operating income	$	3,745	$	5,201	$	11,645	$	10,939