Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED AWARDS AND CASH BASED AWARDS (Tables)

v3.22.2.2
SHARE-BASED AWARDS AND CASH BASED AWARDS (Tables)
9 Months Ended
Sep. 30, 2022
Notes Tables  
Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block]

A summary of activity related to RSUs during the nine months ended September 30, 2022 is as follows:

Weighted

    

    

Average

Restricted

Grant Date Fair

Stock Units

Value Per Unit

Nonvested, beginning of period

698,465

$

4.71

Granted

 

977,681

 

6.24

Vested(1)

 

(387,285)

 

5.20

Forfeited

 

(66,984)

 

5.16

Nonvested, end of period

 

1,221,877

5.75

(1) During May and June 2022, approximately 22,000 outstanding RSUs awarded in 2021 to two individuals retiring from their employment with the Company were modified to fully vest upon their retirement, which occurred during May and June 2022, respectively. The remaining unrecognized grant date fair value of the original RSUs was recognized over the requisite period. The incremental cost due to the modification was not materially different from the grant date fair value.
Schedule of Nonvested Performance-based Units Activity [Table Text Block]

A summary of activity related to PSUs during the nine months ended September 30, 2022 is as follows:

Weighted

    

    

Average

Performance

Grant Date Fair

Share Units

Value Per Unit

Nonvested, beginning of period

196,918

$

5.55

Granted

 

1,377,501

 

10.28

Vested (1)

 

(15,264)

 

5.57

Forfeited

 

(57,065)

 

8.72

Nonvested, end of period

 

1,502,090

9.77

(1) During May and June 2022, approximately 10,000 outstanding PSUs awarded in 2021 to two individuals retiring from their employment with the Company were modified to fully vest upon their retirement, which occurred during May and June 2022, respectively. The remaining unrecognized grant date fair value of the original RSUs was recognized over the requisite period. The incremental cost due to the modification was not materially different from the grant date fair value.
Share-based Payment Arrangement, Nonemployee Director Award Plan, Activity [Table Text Block]

Weighted

Average

Grant Date

    

Restricted

    

Fair Value

Shares

Per Share

Nonvested, beginning of period

70,226

$

3.65

Granted

 

42,426

 

4.95

Vested

 

(70,226)

 

3.65

Nonvested, end of period

 

42,426

$

4.95

Share-based Payment Arrangement, Cost by Plan [Table Text Block]

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2022

    

2021

    

2022

    

2021

Restricted stock units

$

1,240

$

587

$

2,852

$

1,263

Performance share units

1,352

207

2,154

207

Restricted Shares

 

53

 

64

 

173

 

309

Total

$

2,645

$

858

$

5,179

$

1,779

Schedule of Incentive Compensation Expense [Table Text Block]

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2022

    

2021

    

2022

    

2021

Share-based compensation included in:

  

  

  

  

General and administrative expenses

$

2,645

$

858

$

5,179

$

1,779

Cash-based incentive compensation included in:

 

  

 

  

 

  

 

  

Lease operating expense(1)

 

1,532

 

1,119

 

1,994

 

2,774

General and administrative expenses(1)

 

3,559

 

2,809

 

6,164

 

8,167

Total charged to operating income (loss)

$

7,736

$

4,786

$

13,337

$

12,720

(1) Includes adjustments of accruals to actual payments.
Performance Share Units [Member]  
Notes Tables  
Schedule of Share-based Payment Award, Equity Instrument Other Than Options, Valuation Assumptions [Table Text Block]

May 26, 2022

Expected term for performance period (in years)

2.6

Expected volatility

84.4

%

Risk-free interest rate

2.5

%

Fair value (in thousands)

$

14,163