Stock-Based Compensation

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

In connection with the Company’s initial public offering (the "IPO") in May 2014, the Company adopted the Parsley Energy, Inc. 2014 Long Term Incentive Plan for employees, consultants, and directors of the Company who perform services for the Company. Refer to "Compensation Discussion and Analysis—Elements of Compensation—2014 Long-Term Incentive Plan" in the Company’s Proxy Statement filed on Schedule 14A for the 2016 Annual Meeting of Stockholders for additional information related to this equity based compensation plan.

The following table summarizes the Company’s time-based restricted stock, time-based restricted stock unit, and performance-based restricted stock unit activity for the nine months ended September 30, 2016 (in thousands):



	Time-Based Restricted Stock			Time-Based Restricted Stock Units			Performance-Based Restricted Stock Units
Outstanding at January 1, 2016	661			513			212
Awards granted ⁽¹⁾	37			567			242
Vested	(75		)	(15		)	—
Forfeited	(22		)	(13		)	—
Outstanding at September 30, 2016	601			1,052			454

⁽¹⁾Weighted average grant date fair value	$	27.94		$	17.05		$	25.82

Stock-based compensation expense related to time-based restricted stock, time-based restricted stock units, and performance-based restricted stock units was $3.3 million and $2.1 million for the three months ended September 30, 2016 and 2015, respectively. Stock-based compensation expense related to time-based restricted stock, time-based restricted stock units, and performance-based restricted stock units was $9.5 million and $5.9 million for the nine months ended September 30, 2016 and 2015, respectively. There was approximately $23.4 million of unamortized compensation expense relating to outstanding time-based restricted stock, time-based restricted stock units, and performance-based restricted stock units at September 30, 2016.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details