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Common Stock
9 Months Ended
Sep. 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 September 30, 2018 and December 31, 2017, there were 28,400,421 and 27,584,638 shares of Class A Common Stock issued and outstanding, respectively. During the three and nine months ended September 30, 2018, as a result of the vesting and settlement of restricted stock units under the 2014 Plan, Earthstone issued 115,574 and 569,585 shares of Class A Common Stock, respectively, of which 30,511 and 142,937 shares of Class A Common Stock, respectively, were retained as treasury stock and canceled to satisfy the related employee income tax liability. During the three and nine months ended September 30, 2017, as a result of the vesting and settlement of restricted stock units under the 2014 Plan, Earthstone issued 126,751 and 594,380 shares of common stock and Class A Common Stock, respectively, of which 29,441 shares of Class A Common Stock were retained as treasury stock and canceled to satisfy the related employee income tax liability. 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 September 30, 2018 and December 31, 2017, there were 35,663,034 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 nine months ended September 30, 2018, 183,894 shares and 389,135 shares, respectively, of Class B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock. In October 2018, an additional 210,856 shares of Class B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock.