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Common Stock
6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Common Stock
Common Stock
On May 9, 2017, and in connection with the completion of the Bold Transaction, Earthstone recapitalized its Common Stock into two classes, as described in Note 1. – Basis of Presentation and Summary of Significant Accounting Policies, Class A Common Stock and Class B Common Stock. At that time, all of Earthstone’s existing outstanding Common Stock was automatically converted on a one-for-one basis into Class A Common Stock.
Class A Common Stock
At June 30, 2018 and December 31, 2017, there were 28,131,464 and 27,584,638 shares of Class A Common Stock issued and outstanding, respectively. During the three and six months ended June 30, 2018, Earthstone issued 255,313 and 341,585 shares, respectively, of Class A Common Stock as a result of the vesting and settlement of restricted stock units under the 2014 Plan. During the period January 1, 2017 through May 8, 2017, Earthstone issued 382,804 shares of Common Stock as a result of the vesting and settlement of restricted stock units under the 2014 Plan. During the period May 9, 2017 through June 30, 2017, Earthstone issued 84,825 shares of Class A Common Stock as a result of the vesting and settlement of restricted stock units under the 2014 Plan. Additionally, on May 9, 2017, under the Bold Contribution Agreement, Earthstone issued 150,000 shares of Class A Common Stock valued at approximately $2.0 million on that date. For additional information, see Note 2. Acquisitions and Divestitures.
Class B Common Stock
At June 30, 2018 and December 31, 2017, there were 35,846,928 and 36,052,169 shares of Class B Common Stock issued and outstanding, respectively. Each share of Class B Common Stock, together with one EEH Unit, is convertible into one share of Class A Common Stock. During the three and six months ended June 30, 2018, 11,195 shares and 205,241 shares, respectively, of Class B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock. In July 2018, an additional 135,621 shares of Class B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock.