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

Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED AWARDS AND CASH BASED AWARDS (Tables)

SHARE-BASED AWARDS AND CASH BASED AWARDS (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block]

A summary of activity related to RSUs during the three months ended March 31, 2023 is as follows:


		Weighted
		Average
	Restricted	Grant Date Fair
	Stock Units	Value Per Unit
Nonvested, beginning of period	1,221,461	$	5.76
Granted	66,290		6.06
Vested	(470,750)		5.07
Forfeited	(32,019)		5.95
Nonvested, end of period	784,982		6.19

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

Compensation costs for share-based payments are recognized over the requisite service period. A summary of compensation expense under share-based payment arrangements is as follows (in thousands):


	Three Months Ended March 31,
	2023		2022
Restricted stock units	$	498	$	251
Performance share units		1,371		205
Restricted Shares		53		64
Total	$	1,922	$	520

Schedule of Incentive Compensation Expense [Table Text Block]

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


	Three Months Ended March 31,
	2023		2022
Share-based compensation included in:
General and administrative expenses	$	1,922	$	520
Cash-based incentive compensation included in:
Lease operating expense⁽¹⁾		1,248		255
General and administrative expenses⁽¹⁾		5,970		1,957
Total charged to operating income (loss)	$	9,140	$	2,732

(1)

^{Includes adjustments of accruals to actual payments.}