Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Unvested RSU and PSU Award Activity

The table below summarizes RSU award activity for the three months ended March 31, 2023:

	Shares	Weighted-Average Grant Date Fair Value
Unvested RSUs at December 31, 2022	869,978	$	11.40
Granted	404,955	$	13.38
Forfeited	(15,100)	$	12.33
Vested	(173,102)	$	10.87
Unvested RSUs at March 31, 2023	1,086,731	$	12.21

The table below summarizes performance unit activity for the three months ended March 31, 2023:

	Shares	Weighted-Average Grant Date Fair Value
Unvested Performance Units at December 31, 2022	2,616,085	$	10.21
Granted	559,325	$	18.86
Vested	(1,043,800)	$	5.36
Unvested Performance Units at March 31, 2023	2,131,610	$	14.85

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
23.9% or greater	2.0
14.5%	1.0
8.4%	0.5
Less than 8.4%	0.0