Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Summary of Unvested RSU and PSU Award Activity

The table below summarizes RSU award activity for the nine months ended September 30, 2021:

	Shares	Weighted-Average Grant Date Fair Value
Unvested RSUs at December 31, 2020	1,050,908	$	5.55
Granted	553,100	$	5.38
Forfeited	(15,333)	$	5.13
Vested	(707,879)	$	5.75
Unvested RSUs at September 30, 2021	880,796	$	5.30

The table below summarizes PSU activity for the nine months ended September 30, 2021:

	Shares	Weighted-Average Grant Date Fair Value
Unvested PSUs at December 31, 2020	1,879,425	$	7.65
Granted	1,099,800	$	10.85
Vested	(227,500)	$	13.75
Unvested PSUs at September 30, 2021	2,751,725	$	8.42

Schedule of Total Shareholder Return Goals

Between 0x to 2.0x of the Performance Units are eligible to be earned based on Earthstone achieving an annualized TSR based on the following pre-established goals:

Earthstone’s Annualized TSR	TSR Multiplier
20.5% or greater	2
14.5%	1
7.7%	0.5
Less than 7.7%	0