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Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2023
Restricted Stock Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs

The following table summarizes activity related to unvested RSUs for the three months ended March 31, 2023.

 

 

 

Restricted Stock Units

 

 

 

Number of
Shares

 

 

Grant Date
 Fair Value

 

Unvested at January 1, 2023

 

 

446,128

 

 

$

29.11

 

Granted

 

 

185,188

 

 

 

24.19

 

Forfeited

 

 

(4,634

)

 

 

29.80

 

Vested

 

 

 

 

 

 

Unvested at March 31, 2023

 

 

626,682

 

 

$

27.65

 

Deferred Share Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs

The following table summarizes activity related to unvested DSUs for the three months ended March 31, 2023.

 

 

 

Deferred Share Units

 

 

 

Number of
Shares

 

 

Grant Date
Fair Value

 

Unvested at January 1, 2023

 

 

41,724

 

 

$

29.12

 

Granted

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Vested

 

 

 

 

 

 

Unvested at March 31, 2023

 

 

41,724

 

 

$

29.12

 

Performance Stock Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs

The following table summarizes activity related to unvested PSUs for the three months ended March 31, 2023.

 

 

 

Performance Stock Units

 

 

 

Number of
Shares

 

 

Grant Date
Fair Value

 

Unvested at January 1, 2023

 

 

308,953

 

 

$

39.12

 

Granted

 

 

504,041

 

 

 

25.81

 

Forfeited

 

 

 

 

 

 

Vested

 

 

 

 

 

 

Unvested at March 31, 2023

 

 

812,994

 

 

$

30.87

 

Summary of Performance Targets Associated

The performance targets associated with the PSU awards are outlined below:

 

 

 

Annualized
Absolute TSR
Goal

 

 

Percentage of
Target
PSUs Earned

 

Base of Range

 

Less than 0%

 

 

 

0

%

Threshold

 

 

0

%

 

 

50

%

Target

 

 

10

%

 

 

100

%

Maximum

 

 

20

%

 

 

200

%

Schedule of weighted average assumptions to determine fair value

The following table summarizes the assumptions used to determine the fair values of the PSUs:

 

Grant Year

 

Average Expected Volatility

 

Risk-Free Interest Rate

 

Expected Dividend Yield

2022

 

67.23% - 67.30%

 

2.89% - 4.18%

 

0.00%

2023

 

52.71%

 

4.60%

 

0.00%

Restricted Stock Units Converted to Brigham Merger [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs

The following table summarizes activity related to unvested RSUs converted in the Brigham Merger for the three months ended March 31, 2023.

 

 

 

Restricted Stock Units
Converted in Brigham Merger

 

 

 

Number of
Shares

 

 

Grant Date
 Fair Value

 

Unvested at January 1, 2023

 

 

21,279

 

 

$

30.15

 

Granted

 

 

 

 

 

 

Forfeited

 

 

(3,147

)

 

 

30.15

 

Vested

 

 

(7,092

)

 

 

30.15

 

Unvested at March 31, 2023

 

 

11,040

 

 

$

30.15

 

Performance Stock Units Converted To Brigham Merger [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs

The following table summarizes activity related to unvested PSUs converted in the Brigham Merger for the three months ended March 31, 2023.

 

 

 

Performance Stock Units
Converted in Brigham Merger

 

 

 

Number of
Shares

 

 

Grant Date
Fair Value

 

Unvested at January 1, 2023

 

 

10,786

 

 

$

30.15

 

Granted

 

 

 

 

 

 

Forfeited

 

 

(3,148

)

 

 

30.15

 

Vested

 

 

 

 

 

 

Unvested at March 31, 2023

 

 

7,638

 

 

$

30.15

 

Sitio OpCo Restricted Stock Awards [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs

The following table summarizes activity related to unvested Sitio OpCo RSAs for the three months ended March 31, 2023

 

 

Sitio OpCo
Restricted Stock Awards

 

 

 

Number of
Shares

 

 

Grant Date
Fair Value

 

Unvested at January 1, 2023

 

 

309,527

 

 

$

29.12

 

Granted

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Vested

 

 

 

 

 

 

Unvested at March 31, 2023

 

 

309,527

 

 

$

29.12