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)

3 Months Ended

Mar. 31, 2019

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 three months ended March 31, 2019 is as follows:

	Restricted Stock Units
				Weighted Average
				Grant Date Fair
	Units			Value Per Unit
Nonvested, December 31, 2018		3,355,917		$	3.90
Forfeited ⁽¹⁾		(856,718	)		2.77
Nonvested, March 31, 2019		2,499,199			4.28

(1)

Primarily related to a former executive’s forfeitures.

Schedule of Outstanding Restricted Stock Units Issued to Eligible Employees

For the outstanding RSUs issued to the eligible employees as of March 31, 2019, vesting is expected to occur as follows (subject to forfeitures):

	Restricted Stock Units
2019		1,579,140
2020		920,059
Total		2,499,199

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

For the outstanding Restricted Shares issued to the non-employee directors as of March 31, 2019, 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

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

	Three Months Ended
	March 31,
	2019			2018
Share-based compensation expense from:
Restricted stock units ⁽¹⁾	$	(148	)	$	1,149
Restricted Shares		70			70
Total	$	(78	)	$	1,219

(1)

For the 2019 period, the net credit is due to a former executive’s forfeitures.

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
	March 31,
	2019			2018
Share-based compensation included in:
General and administrative expenses	$	(78	)	$	1,219
Cash-based incentive compensation included in:
Lease operating expense ⁽¹⁾		(123	)		860
General and administrative expenses ⁽¹⁾		2,095			2,672
Total charged to operating income	$	1,894		$	4,751

(1) Includes adjustments of accruals to actual payments.