Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2023

Allocation of Stock-Based Compensation by Functional Category

The following details the allocation of stock-based compensation to functional expense categories (in thousands):

	Three Months Ended March 31,
	2023		2022
Direct operating expense	$	415	$	349
Brokered natural gas and marketing expense		661		519
Exploration expense		320		452
General and administrative expense		9,600		11,573
Total stock-based compensation expense	$	10,996	$	12,893

Restricted Stock and Restricted Stock Units and performance awards Outstanding

The following is a summary of the activity for our restricted stock and performance awards at March 31, 2023:

	Restricted Stock Equity Awards					Restricted Stock Liability Awards					Stock-Based Performance Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value		Number of Units (a)			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022		1,736,688		$	14.44		379,633		$	14.71		1,950,632		$	9.02
Granted		1,564,289			25.01		10,754			24.70		145,747			26.86
Vested		(490,702	)		15.37		(132,638	)		13.98		(1,158,797	)		4.80
Forfeited		(16,094	)		17.38		—			—		—			—
Outstanding at March 31, 2023		2,794,181		$	20.18		257,749		$	15.50		937,582		$	17.01

(a) Amounts granted reflect performance units initially granted. The actual payout will be between zero and 200% depending on achievement of either total stockholder return ranking compared to our peers at the vesting date or on the achievement of internal performance targets.

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The following assumptions were used to estimate the fair value of these awards granted during first three months 2023 and 2022:

	Three Months Ended March 31,
	2023			2022
Risk-free interest rate		3.8	%		1.4	%
Expected annual volatility		61	%		68	%
Grant date fair value per unit	$	30.37		$	27.90