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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Restricted Incentive Unit Activity
A summary of the Restricted Units issued and outstanding is as follows:
 
 
 
Series M Units
 
 
M-1
 
M-2
 
M-3
 
M-4
 
Total
Beginning balance
 
7,520

 
7,520

 
7,520

 
7,520

 
30,080

2017 issuances
 
—

 
—

 
—

 
—

 
—

2017 forfeitures
 
—

 
—

 
—

 
—

 
—

 
 
 

 
 

 
 

 
 

 
 

Outstanding at December 31, 2017
 
7,520

 
7,520

 
7,520

 
7,520

 
30,080

2018 issuances
 
1,030

 
1,030

 
1,030

 
1,030

 
4,120

2018 forfeitures
 
—

 
—

 
—

 
—

 
—

Outstanding at December 31, 2018
 
8,550

 
8,550

 
8,550

 
8,550

 
34,200

 
 
 
 
 
Series Z Units 
 
 
Z-1
 
Z-2
 
Z-3
 
Z-4
 
Total
Beginning balance
 
4,328

 
4,328

 
4,328

 
4,328

 
17,312

2017 issuances
 
—

 
—

 
—

 
—

 
—

2017 forfeitures
 
(15
)
 
(15
)
 
(15
)
 
(15
)
 
(60
)
 
 
 

 
 

 
 

 
 

 
 

Outstanding at December 31, 2017
 
4,313

 
4,313

 
4,313

 
4,313

 
17,252

2018 issuances
 
485

 
485

 
485

 
485

 
1,940

2018 forfeitures
 
(105
)
 
(105
)
 
(105
)
 
(105
)
 
(420
)
Outstanding at December 31, 2018
 
4,693

 
4,693

 
4,693

 
4,693

 
18,772

A summary of the Incentive Unit activity for the year ended December 31, 2019 is as follows:
 
 
Incentive Units
(In thousands)
 
Number of Incentive Units
 
Grant-date Fair Value
Outstanding—January 1, 2019
 
3,272

 
$
1.49

Vested
 
(3,060
)
 
$
0.89

Outstanding—December 31, 2019
 
212

 
$
10.04

A summary of the Incentive Unit activity for the year ended December 31, 2018 is as follows:
 
 
Incentive Units
(In thousands)
 
Number of Incentive Units
 
Grant-date Fair Value
Outstanding—January 1, 2018
 
2,918

 
$
0.45

Granted
 
354

 
10.04

Vested
 
—

 
—

Outstanding—December 31, 2018
 
3,272

 
$
1.49
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
 
 
Performance-Based Restricted Stock Units
Expected dividend yield
 
8.1
%
Risk-free interest rate
 
2.3
%
Volatility
 
30
%
Brigham LLC used the Black-Scholes option pricing valuation model with the following weighted-average assumptions

 
 
Incentive Units
 
 
2018 Awards
 
2015 Awards
 
2013 Awards
Expected volatility
 
28
%
 
33
%
 
40
%
Expected dividend yield
 
—

 
—

 
—

Expected term (in years)
 
0.7

 
3.7

 
6.2

Risk-free interest rates
 
2.45
%
 
1.07
%
 
0.94
%
Weighted-average grant date fair value per Incentive Unit
 
$10.04
 
$0.03
 
$1.51
Schedule of Share-Based Compensation Expense
Share-based compensation cost recorded for each type of share-based compensation award, was as follows for the periods indicated:

 
 
Years Ended December 31,
(In thousands)
 
2019
 
2018
 
2017
Incentive Units (1) (3)
 
$
2,904

 
$
—

 
$
—

RSAs (2) (3)
 
3,972

 
—

 
—

RSUs (3)
 
4,630

 
—

 
—

PSUs (4)
 
2,361

 
—

 
—

Capitalized share-based compensation (5)
 
(3,818
)
 
—

 
—

Total share-based compensation expense
 
$
10,049

 
$
—

 
$
—

                                                              
(1)
Includes a cumulative effect adjustment to share-based compensation cost of $2.0 million pertaining to the period from the grant date through the IPO date. No compensation expense was recorded prior to the IPO because the IPO was not considered probable.
(2)
Includes $3.2 million recorded at grant date of April 23, 2019, associated with 152,742 RSAs, which vested immediately.
(3)
Share-based compensation expense relating to Incentive Units, restricted stock awards and time-based restricted stock units with ratable vesting is recognized on a straight-line basis over the requisite service period for the entire award.
(4)
Share-based compensation expense relating to PSUs with cliff-vesting is recognized on a straight-line basis over the performance period for the entire award.
(5)
During the year ended December 31, 2019, Brigham Minerals capitalized $3.8 million of the share-based compensation to unevaluated property on its balance sheet.
In addition to the time-based vesting conditions described above, the Incentive Units could be earned upon the completion of an initial public offering or another liquidity event, considered a performance condition, which was not deemed probable and therefore no compensation expense was recognized prior to December 31, 2018.
Future Share-Based Compensation Expense
The following table reflects the future share-based compensation expense to be recorded for the share-based compensation awards that were outstanding at December 31, 2019, a portion of which will be capitalized:
(In thousands)
 
Incentive Units
 
RSAs
 
RSUs
 
PSUs
 
Total
2020
 
$
712

 
$
1,052

 
$
4,217

 
$
3,419

 
$
9,400

2021
 
712

 
1,052

 
3,890

 
3,419

 
9,073

2022
 
534

 
326

 
—

 
—

 
860

Total
 
$
1,958

 
$
2,430

 
$
8,107

 
$
6,838

 
$
19,333