Common Stock

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Common Stock

Common Stock

Class A Common Stock

At June 30, 2020 and December 31, 2019, there were 30,020,357 and 29,421,131 shares of Class A Common Stock issued and outstanding, respectively. During the three and six months ended June 30, 2020, as a result of the vesting and settlement of restricted stock units under the Earthstone Energy, Inc. Amended and Restated 2014 Long-Term Incentive Plan, as amended (the “2014 Plan”), Earthstone issued 223,209 and 530,738 shares, respectively, of Class A Common Stock, of which 57,810 and 133,505 shares, respectively, of Class A Common Stock were retained as treasury stock and canceled to satisfy the related employee income tax liability. During the three and six months ended June 30, 2019, as a result of the vesting and settlement of restricted stock units under the 2014 Plan, Earthstone issued 176,655 and 402,056 shares, respectively, of Class A Common Stock, of which 43,344 and 102,605 shares, respectively, of Class A Common Stock were retained as treasury stock and canceled to satisfy the related employee income tax liability.

Class B Common Stock

At June 30, 2020 and December 31, 2019, there were 35,058,687 and 35,260,680 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, 2020, 2,000 and 201,993 shares, respectively, of Class

B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock. During the three and six months ended June 30, 2019, 35,732 shares of Class B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock.