Quarterly report pursuant to Section 13 or 15(d)

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

v3.10.0.1
Share-Based Compensation and Cash-Based Incentive Compensation (Tables)
6 Months Ended
Jun. 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 six months ended June 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

 

Vested

 

(28,503

)

 

 

2.38

 

Forfeited/adjustments

 

(45,017

)

 

 

2.47

 

Nonvested, June 30, 2018

 

5,691,731

 

 

 

2.48

 

 

Schedule of Outstanding Restricted Stock Units Issued to Eligible Employees

For the outstanding RSUs issued to the eligible employees as of June 30, 2018, vesting is expected to occur as follows:  

 

 

Restricted Stock Units

 

2018

 

3,698,748

 

2019

 

1,992,983

 

Total

 

5,691,731

 

 

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, June 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 June 30, 2018, vesting is expected to occur as follows:

 

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

June 30,

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Share-based compensation expense from:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

$

1,145

 

 

$

2,342

 

 

$

2,294

 

 

$

4,200

 

Restricted Shares

 

70

 

 

 

70

 

 

 

140

 

 

 

140

 

Total

$

1,215

 

 

$

2,412

 

 

$

2,434

 

 

$

4,340

 

Share-based compensation tax benefit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax benefit computed at the statutory rate

$

255

 

 

$

844

 

 

$

511

 

 

$

1,519

 

 

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

 

 

Six Months Ended

 

 

June 30,

 

 

June 30,

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Share-based compensation included in:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

$

1,215

 

 

$

2,412

 

 

$

2,434

 

 

$

4,340

 

Cash-based incentive compensation included in:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease operating expense

 

543

 

 

 

394

 

 

 

1,403

 

 

 

394

 

General and administrative expenses

 

1,391

 

 

 

1,004

 

 

 

4,063

 

 

 

1,004

 

Total charged to operating income

$

3,149

 

 

$

3,810

 

 

$

7,900

 

 

$

5,738