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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance

As discussed in the CD&A, our Compensation Committee has implemented an executive compensation program designed to link a substantial portion of our NEOs realized compensation to the achievement of our financial, operational and strategic objectives and to align our executive pay with changes in the value of our stockholders investments. We have identified Net Debt as our Company-Selected Measure that represents, in our view, the most important financial measure used to link Compensation Actually Paid (“CAP”) to our performance in 2024. We believe our debt levels are important to our stockholders and our ability to reduce those debt levels is through generating higher cash flows and our focus on efficient operations. The following sets forth additional compensation information for our NEOs, calculated in accordance with SEC regulations for the fiscal years 2024, 2023, 2022, 2021 and 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Fixed $100
Investment Based on:

 

 

Stated in millions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year

 

Summary
Compensation
Table Total for
CEO Jeffrey L.
Ventura(1)

 

 

Summary
Compensation
Table Total for
CEO Dennis L.
Degner(1)

 

 

Compensation
Actually Paid
to CEO Jeffrey
L. Ventura(2)(4)

 

 

Compensation
Actually Paid
to CEO
Dennis L.
Degner(2)(4)

 

 

Average
Summary
Compensation
Table for
Remaining
NEOs(3)(8)

 

 

Average
Compensation
Actually Paid
to Remaining(g)
NEOs(2)(4)(8)

 

 

Total
Stockholder
Return

 

 

Peer Group
Total
Stockholder
Return(5)

 

 

Net
Income
(Loss)(6)

 

 

Net
Debt(7)

 

(a)

 

(b)

 

 

(b)

 

 

(c)

 

 

(c)

 

 

(d)

 

 

(e)

 

 

(f)

 

 

(g)

 

 

(h)

 

 

(i)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

N/A

 

 

$

7,492,829

 

 

N/A

 

 

$

11,913,564

 

 

$

2,426,926

 

 

$

3,493,169

 

 

$

762

 

 

$

255

 

 

$

266

 

 

$

1,404

 

2023

 

$

592,899

 

 

$

6,181,944

 

 

$

7,148,610

 

 

$

11,224,955

 

 

$

2,423,058

 

 

$

3,585,941

 

 

$

639

 

 

$

212

 

 

$

871

 

 

$

1,576

 

2022

 

$

7,930,872

 

 

N/A

 

 

$

20,623,893

 

 

N/A

 

 

$

2,658,371

 

 

$

7,195,488

 

 

$

518

 

 

$

212

 

 

$

1,183

 

 

$

1,869

 

2021

 

$

7,542,954

 

 

N/A

 

 

$

29,861,807

 

 

N/A

 

 

$

2,853,780

 

 

$

10,803,072

 

 

$

368

 

 

$

142

 

 

$

412

 

 

$

2,736

 

2020

 

$

6,704,788

 

 

N/A

 

 

$

12,846,337

 

 

N/A

 

 

$

2,755,736

 

 

$

5,106,097

 

 

$

138

 

 

$

76

 

 

$

(712

)

 

$

3,115

 

 

(1)
The dollar amounts reported are the amounts of total compensation reported for our former CEO Mr. Ventura and our current CEO Mr. Degner for the corresponding year in which each served as the Company's CEO in the "Total" column of the Summary Compensation Table (“SCT”) as reflected on page 48 of this Proxy statement and our proxy statements for 2024, 2023, 2022 and 2021. Mr. Ventura retired in June 2023.
(2)
The dollar amounts reported represent the amount of “compensation actually paid”, as computed in accordance with SEC rules. The dollar amounts do not reflect the actual amount of compensation paid to our CEO (or other NEOs) during the applicable year, but include (i) the year-end value of equity awards granted during the reported year and (ii) the change in the value of equity awards that were unvested at the end of the prior year, measured through the date the awards vested or were forfeited or through the end of the reported fiscal year.
(3)
Reflects compensation for our remaining NEOs, other than our CEO.
(4)
Time-vested restricted stock grant fair values are calculated using the stock price as of the date of grant. Adjustments have been made using the stock price as of the applicable year end and as of each date of vesting. TSR-PSUs fair values are calculated using a Monte Carlo simulation model as of the applicable year-end date or as of each date of vesting. Performance-Based Internal metrics fair value is calculated using the stock price as of the applicable year end multiplied by the probability of achievement as of each such date.
(5)
Reflects cumulative total stockholder return for our Peer Group as described on page 43 of this proxy and assumes an initial investment of $100 on December 31, 2019. As of December 31, 2020, the members of the peer group included Antero Resources Corporation (AR), Cabot Oil and Gas Corporation (COG), Chesapeake Energy Corporation (CAKAQ), Cimarex Energy Co. (XEC), CNX Resources (CNX), EQT Corporation (EQT), Gulfport Energy Corporation (GPORQ), Matador Resources (MTDR), Murphy Oil (MUR), Oasis Petroleum (OASPQ), PDC Energy Inc. (POCE), QEP Resources Inc. (QEP), SM Energy Company (SM), Southwestern Energy Company (SWN), Whiting Petroleum (WLL), WPX Energy (WPX). In setting the 2021 peer group, XEC and COG were merged into Coterra (CTRA), CHKAQ declared bankruptcy, GPORQ, OASPQ, WLL and WPX were dropped and the S&P 500 index and Comstock Resources (CRK) were added to better test performance against a broader index. As of December 31, 2021, the members of the peer group include: AR, CTRA, CNX, CRK, EQT, MTDR, MUR, PDCE, QEP, SM, SWN and the S&P 500 index. As of December 31, 2022, the members of the peer group included AR, CTRA, CNX, CRK, EQT, MTDR, MUR, PDCE, SM, SWN and the S&P 500 index. QEP Resources was removed and Chesapeake Energy Corporation (CHK) was added back as they emerged from bankruptcy. PDC Energy is included through August 2023 when it was acquired by Chevron Corp. As of December 31, 2023, the members of the peer group included: AR, CHK, CNX, CRK, CTRA, EQT, MTDR, MUR, PDCE, SM, SWN, and the S&P 500 index. As of December 31, 2024, the members of the peer group included: AR, Callon Petroleum Company (CPE), CHK, Civitas Resources, Inc. (CIVI), Chord Energy Corporation (CHRD), CNX, CRK, CTRA, EQT, Magnolia Oil & Gas Corporation (MGY), MTDR, Marathon Oil Corporation (MRO), MUR, Permian Resources Corporation (PR), SM, SWN and the S&P 400 index. AR, CHK, CNX, CRK, CTRA, EQT, and SWN are included twice in the calculation of total stockholder return. CPE is included through February 2024 when it was acquired by Apache Corporation. MRO is included through November 2024 when it was acquired by Conoco Phillips. SWN is included through October 2024 when it was acquired by CHK to form EXE.
(6)
Reflects net income (loss) in the Company’s Consolidated Statements of Operations included in the Annual Reports on Form 10-K for each of the years ended December 31, 2024, 2023, 2022, 2021 and 2020.
(7)
Annex A includes reconciliations for non-GAAP financial measures to comparable GAAP measures
(8)
Reflects compensation reported in the “Summary Compensation Table” for our NEOs for each year presented. The following NEOs are included in the average figures show:
•
2020: Mark S. Scucchi; Dennis L. Degner; David P. Poole; Alan W. Farquharson
•
2021: Mark S. Scucchi; Dennis L. Degner; David P. Poole; Alan W. Farquharson
•
2022: Mark S. Scucchi; Dennis L. Degner; David P. Poole; Alan W. Farquharson
•
2023: Mark S. Scucchi; Erin W. McDowell; Alan W. Farquharson; Dori A. Ginn
•
2024: Mark S. Scucchi; Erin W. McDowell; Alan W. Farquharson; Anthony W. Gaudlip

Column (c). To calculate the amounts in “Compensation Actually Paid to CEO” column for Jeffrey L. Ventura, the following amounts were deducted from or added to (as applicable) our CEO’s total compensation as reported in the Summary Compensation Table (SCT):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SCT for CEO
Jeffrey L.
Ventura

 

 

 

Reported Value of Equity
Awards for CEO
Jeffrey L. Ventura(1)

 

 

 

Equity Award
Adjustments for CEO
Jeffrey L. Ventura(2)

 

 

 

Compensation
Actually Paid to CEO
Jeffrey L. Ventura

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

$

592,899

 

 

 

$

—

 

 

 

$

6,555,711

 

 

 

$

7,148,610

 

2022

 

 

$

7,930,872

 

 

 

$

(5,799,964

)

 

 

$

18,492,985

 

 

 

$

20,623,893

 

2021

 

 

$

7,542,954

 

 

 

$

(4,799,996

)

 

 

$

27,118,849

 

 

 

$

29,861,807

 

2020

 

 

$

6,704,788

 

 

 

$

(3,922,995

)

 

 

$

10,064,544

 

 

 

$

12,846,337

 

 

(1)
Represents the grant date fair value of equity awards granted to our CEO as reported in the “Stock Awards” column in the SCT for each year. Mr. Ventura did not receive an equity grant in 2023 due to his retirement.
(2)
Represents the year-over-year change in the fair value of equity awards to our CEO.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value of Equity Awards for Former CEO –
Jeffrey L. Ventura

 

 

2023

 

 

 

2022

 

 

 

2021

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of year-end for awards granted during the year

 

 

$

—

 

 

 

$

6,899,722

 

 

 

$

9,397,492

 

 

 

$

8,992,765

 

Year-over-year increase of unvested awards granted in prior years

 

 

 

5,103,067

 

 

 

 

7,014,919

 

 

 

 

15,001,036

 

 

 

 

1,189,549

 

Increase (decrease) from prior year-end for awards that vested during the year

 

 

 

1,452,644

 

 

 

 

4,578,344

 

 

 

 

2,720,321

 

 

 

 

(117,770

)

TOTAL EQUITY AWARD ADJUSTMENTS FOR FORMER CEO – JEFFREY L . VENTURA

 

 

$

6,555,711

 

 

 

$

18,492,985

 

 

 

$

27,118,849

 

 

 

$

10,064,544

 

 

Column (c). To calculate amounts in “Compensation Actually Paid to CEO” for Dennis L. Degner, the following amounts were deducted from or added (as applicable) to our CEO’s total compensation as reported in the SCT:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SCT for CEO
Dennis L.
Degner

 

 

 

Reported Value of Equity
Awards for CEO
Dennis L. Degner(1)

 

 

 

Equity Award
Adjustments for CEO
Dennis L. Degner(2)

 

 

 

Compensation
Actually Paid to CEO
Dennis L. Degner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

$

7,492,829

 

 

 

$

(5,131,610

)

 

 

$

9,552,345

 

 

 

$

11,913,564

 

2023

 

 

$

6,181,944

 

 

 

$

(3,925,016

)

 

 

$

8,968,027

 

 

 

$

11,224,955

 

 

(1)
Represents the grant date fair value of equity awards granted to our CEO as reported in the “Stock Awards” column in the SCT.
(2)
Represents the year-over-year change in the fair value of equity awards to our CEO.

 

 

 

 

 

 

 

 

 

 

Fair Value of Equity Awards for CEO – Dennis L. Degner

 

 

2024

 

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of year-end for awards granted during the year

 

 

$

6,991,008

 

 

 

$

4,950,314

 

Year-over-year increase of unvested awards granted in prior years

 

 

 

2,184,499

 

 

 

 

3,142,953

 

Increase from prior year-end for awards that vested during the year

 

 

 

376,837

 

 

 

 

874,760

 

TOTAL EQUITY AWARD ADJUSTMENTS FOR CEO – DENNIS L. DEGNER

 

 

$

9,552,345

 

 

 

$

8,968,027

 

 

Column (e). To calculate the amounts in “Average Compensation Actually Paid to Remaining NEOs” column in the table above, the following amounts were deducted from or added to (as applicable) to our remaining NEOs total compensation as reported in the SCT:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average SCT for
Remaining NEOs

 

 

 

Average Reported
Value of Equity
Awards for
Remaining NEOs

 

 

 

Average
Equity Award
Adjustments for
Remaining NEOs

 

 

 

Average
Compensation
Actually Paid to
Remaining NEOs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

$

2,426,926

 

 

 

$

(1,415,158

)

 

 

$

2,481,400

 

 

 

$

3,493,169

 

2023

 

 

$

2,423,058

 

 

 

$

(1,324,995

)

 

 

$

2,487,878

 

 

 

$

3,585,941

 

2022

 

 

$

2,658,371

 

 

 

$

(1,749,985

)

 

 

$

6,287,102

 

 

 

$

7,195,488

 

2021

 

 

$

2,853,780

 

 

 

$

(1,744,995

)

 

 

$

9,694,287

 

 

 

$

10,803,072

 

2020

 

 

$

2,755,736

 

 

 

$

(1,633,999

)

 

 

$

3,984,360

 

 

 

$

5,106,097

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Fair Value of Equity Awards for Remaining NEOs

 

 

2024

 

 

 

2023

 

 

 

2022

 

 

 

2021

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of year-end for awards granted during the year

 

 

$

1,788,384

 

 

 

$

1,445,579

 

 

 

$

2,132,512

 

 

 

$

3,394,488

 

 

 

$

3,725,287

 

Year-over-year increase of unvested awards granted in prior years

 

 

 

601,154

 

 

 

 

864,425

 

 

 

 

2,833,707

 

 

 

 

5,432,421

 

 

 

 

292,015

 

Increase (decrease) from prior year-end for awards that vested during the year

 

 

 

91,862

 

 

 

 

177,874

 

 

 

 

1,320,883

 

 

 

 

867,378

 

 

 

 

(32,942

)

TOTAL EQUITY AWARD ADJUSTMENTS FOR REMAINING NEOS

 

 

$

2,481,400

 

 

 

$

2,487,878

 

 

 

$

6,287,102

 

 

 

$

9,694,287

 

 

 

$

3,984,360

 
       
Company Selected Measure Name NetDebt        
Named Executive Officers, Footnote
(1)
The dollar amounts reported are the amounts of total compensation reported for our former CEO Mr. Ventura and our current CEO Mr. Degner for the corresponding year in which each served as the Company's CEO in the "Total" column of the Summary Compensation Table (“SCT”) as reflected on page 48 of this Proxy statement and our proxy statements for 2024, 2023, 2022 and 2021. Mr. Ventura retired in June 2023.
(8)
Reflects compensation reported in the “Summary Compensation Table” for our NEOs for each year presented. The following NEOs are included in the average figures show:
•
2020: Mark S. Scucchi; Dennis L. Degner; David P. Poole; Alan W. Farquharson
•
2021: Mark S. Scucchi; Dennis L. Degner; David P. Poole; Alan W. Farquharson
•
2022: Mark S. Scucchi; Dennis L. Degner; David P. Poole; Alan W. Farquharson
•
2023: Mark S. Scucchi; Erin W. McDowell; Alan W. Farquharson; Dori A. Ginn
•
2024: Mark S. Scucchi; Erin W. McDowell; Alan W. Farquharson; Anthony W. Gaudlip
        
Peer Group Issuers, Footnote
(5)
Reflects cumulative total stockholder return for our Peer Group as described on page 43 of this proxy and assumes an initial investment of $100 on December 31, 2019. As of December 31, 2020, the members of the peer group included Antero Resources Corporation (AR), Cabot Oil and Gas Corporation (COG), Chesapeake Energy Corporation (CAKAQ), Cimarex Energy Co. (XEC), CNX Resources (CNX), EQT Corporation (EQT), Gulfport Energy Corporation (GPORQ), Matador Resources (MTDR), Murphy Oil (MUR), Oasis Petroleum (OASPQ), PDC Energy Inc. (POCE), QEP Resources Inc. (QEP), SM Energy Company (SM), Southwestern Energy Company (SWN), Whiting Petroleum (WLL), WPX Energy (WPX). In setting the 2021 peer group, XEC and COG were merged into Coterra (CTRA), CHKAQ declared bankruptcy, GPORQ, OASPQ, WLL and WPX were dropped and the S&P 500 index and Comstock Resources (CRK) were added to better test performance against a broader index. As of December 31, 2021, the members of the peer group include: AR, CTRA, CNX, CRK, EQT, MTDR, MUR, PDCE, QEP, SM, SWN and the S&P 500 index. As of December 31, 2022, the members of the peer group included AR, CTRA, CNX, CRK, EQT, MTDR, MUR, PDCE, SM, SWN and the S&P 500 index. QEP Resources was removed and Chesapeake Energy Corporation (CHK) was added back as they emerged from bankruptcy. PDC Energy is included through August 2023 when it was acquired by Chevron Corp. As of December 31, 2023, the members of the peer group included: AR, CHK, CNX, CRK, CTRA, EQT, MTDR, MUR, PDCE, SM, SWN, and the S&P 500 index. As of December 31, 2024, the members of the peer group included: AR, Callon Petroleum Company (CPE), CHK, Civitas Resources, Inc. (CIVI), Chord Energy Corporation (CHRD), CNX, CRK, CTRA, EQT, Magnolia Oil & Gas Corporation (MGY), MTDR, Marathon Oil Corporation (MRO), MUR, Permian Resources Corporation (PR), SM, SWN and the S&P 400 index. AR, CHK, CNX, CRK, CTRA, EQT, and SWN are included twice in the calculation of total stockholder return. CPE is included through February 2024 when it was acquired by Apache Corporation. MRO is included through November 2024 when it was acquired by Conoco Phillips. SWN is included through October 2024 when it was acquired by CHK to form EXE.
        
Adjustment To PEO Compensation, Footnote

Column (c). To calculate the amounts in “Compensation Actually Paid to CEO” column for Jeffrey L. Ventura, the following amounts were deducted from or added to (as applicable) our CEO’s total compensation as reported in the Summary Compensation Table (SCT):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SCT for CEO
Jeffrey L.
Ventura

 

 

 

Reported Value of Equity
Awards for CEO
Jeffrey L. Ventura(1)

 

 

 

Equity Award
Adjustments for CEO
Jeffrey L. Ventura(2)

 

 

 

Compensation
Actually Paid to CEO
Jeffrey L. Ventura

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

$

592,899

 

 

 

$

—

 

 

 

$

6,555,711

 

 

 

$

7,148,610

 

2022

 

 

$

7,930,872

 

 

 

$

(5,799,964

)

 

 

$

18,492,985

 

 

 

$

20,623,893

 

2021

 

 

$

7,542,954

 

 

 

$

(4,799,996

)

 

 

$

27,118,849

 

 

 

$

29,861,807

 

2020

 

 

$

6,704,788

 

 

 

$

(3,922,995

)

 

 

$

10,064,544

 

 

 

$

12,846,337

 

 

(1)
Represents the grant date fair value of equity awards granted to our CEO as reported in the “Stock Awards” column in the SCT for each year. Mr. Ventura did not receive an equity grant in 2023 due to his retirement.
(2)
Represents the year-over-year change in the fair value of equity awards to our CEO.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value of Equity Awards for Former CEO –
Jeffrey L. Ventura

 

 

2023

 

 

 

2022

 

 

 

2021

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of year-end for awards granted during the year

 

 

$

—

 

 

 

$

6,899,722

 

 

 

$

9,397,492

 

 

 

$

8,992,765

 

Year-over-year increase of unvested awards granted in prior years

 

 

 

5,103,067

 

 

 

 

7,014,919

 

 

 

 

15,001,036

 

 

 

 

1,189,549

 

Increase (decrease) from prior year-end for awards that vested during the year

 

 

 

1,452,644

 

 

 

 

4,578,344

 

 

 

 

2,720,321

 

 

 

 

(117,770

)

TOTAL EQUITY AWARD ADJUSTMENTS FOR FORMER CEO – JEFFREY L . VENTURA

 

 

$

6,555,711

 

 

 

$

18,492,985

 

 

 

$

27,118,849

 

 

 

$

10,064,544

 

 

Column (c). To calculate amounts in “Compensation Actually Paid to CEO” for Dennis L. Degner, the following amounts were deducted from or added (as applicable) to our CEO’s total compensation as reported in the SCT:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SCT for CEO
Dennis L.
Degner

 

 

 

Reported Value of Equity
Awards for CEO
Dennis L. Degner(1)

 

 

 

Equity Award
Adjustments for CEO
Dennis L. Degner(2)

 

 

 

Compensation
Actually Paid to CEO
Dennis L. Degner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

$

7,492,829

 

 

 

$

(5,131,610

)

 

 

$

9,552,345

 

 

 

$

11,913,564

 

2023

 

 

$

6,181,944

 

 

 

$

(3,925,016

)

 

 

$

8,968,027

 

 

 

$

11,224,955

 

 

(1)
Represents the grant date fair value of equity awards granted to our CEO as reported in the “Stock Awards” column in the SCT.
(2)
Represents the year-over-year change in the fair value of equity awards to our CEO.

 

 

 

 

 

 

 

 

 

 

Fair Value of Equity Awards for CEO – Dennis L. Degner

 

 

2024

 

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of year-end for awards granted during the year

 

 

$

6,991,008

 

 

 

$

4,950,314

 

Year-over-year increase of unvested awards granted in prior years

 

 

 

2,184,499

 

 

 

 

3,142,953

 

Increase from prior year-end for awards that vested during the year

 

 

 

376,837

 

 

 

 

874,760

 

TOTAL EQUITY AWARD ADJUSTMENTS FOR CEO – DENNIS L. DEGNER

 

 

$

9,552,345

 

 

 

$

8,968,027

 
       
Non-PEO NEO Average Total Compensation Amount $ 2,426,926 $ 2,423,058 $ 2,658,371 $ 2,853,780 $ 2,755,736
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,493,169 3,585,941 7,195,488 10,803,072 5,106,097
Adjustment to Non-PEO NEO Compensation Footnote

Column (e). To calculate the amounts in “Average Compensation Actually Paid to Remaining NEOs” column in the table above, the following amounts were deducted from or added to (as applicable) to our remaining NEOs total compensation as reported in the SCT:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average SCT for
Remaining NEOs

 

 

 

Average Reported
Value of Equity
Awards for
Remaining NEOs

 

 

 

Average
Equity Award
Adjustments for
Remaining NEOs

 

 

 

Average
Compensation
Actually Paid to
Remaining NEOs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

$

2,426,926

 

 

 

$

(1,415,158

)

 

 

$

2,481,400

 

 

 

$

3,493,169

 

2023

 

 

$

2,423,058

 

 

 

$

(1,324,995

)

 

 

$

2,487,878

 

 

 

$

3,585,941

 

2022

 

 

$

2,658,371

 

 

 

$

(1,749,985

)

 

 

$

6,287,102

 

 

 

$

7,195,488

 

2021

 

 

$

2,853,780

 

 

 

$

(1,744,995

)

 

 

$

9,694,287

 

 

 

$

10,803,072

 

2020

 

 

$

2,755,736

 

 

 

$

(1,633,999

)

 

 

$

3,984,360

 

 

 

$

5,106,097

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Fair Value of Equity Awards for Remaining NEOs

 

 

2024

 

 

 

2023

 

 

 

2022

 

 

 

2021

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of year-end for awards granted during the year

 

 

$

1,788,384

 

 

 

$

1,445,579

 

 

 

$

2,132,512

 

 

 

$

3,394,488

 

 

 

$

3,725,287

 

Year-over-year increase of unvested awards granted in prior years

 

 

 

601,154

 

 

 

 

864,425

 

 

 

 

2,833,707

 

 

 

 

5,432,421

 

 

 

 

292,015

 

Increase (decrease) from prior year-end for awards that vested during the year

 

 

 

91,862

 

 

 

 

177,874

 

 

 

 

1,320,883

 

 

 

 

867,378

 

 

 

 

(32,942

)

TOTAL EQUITY AWARD ADJUSTMENTS FOR REMAINING NEOS

 

 

$

2,481,400

 

 

 

$

2,487,878

 

 

 

$

6,287,102

 

 

 

$

9,694,287

 

 

 

$

3,984,360

 
       
Compensation Actually Paid vs. Total Shareholder Return

CAP Versus Total Stockholder Return

 

img14362610_138.jpg

        
Compensation Actually Paid vs. Net Income

Over the five year period from 2020 to 2024, our TSR was trending in a similar manner as the TSR for our peer group, but, for all years, our TSR outpaced that of our peers.

CAP Versus Net Income (Loss)

 

img14362610_139.jpg

        
Compensation Actually Paid vs. Company Selected Measure

CAP Versus Net Debt

 

img14362610_140.jpg

        
Total Shareholder Return Vs Peer Group

CAP Versus Total Stockholder Return

 

img14362610_138.jpg

        
Tabular List, Table

The following list identifies the seven most important financial and non-financial measures used by our Compensation Committee to link the “Compensation Actually Paid” to our CEO and other NEOs in 2024. The role of each of these performance measures is more fully discussed in the CD&A starting on page 31 of this proxy statement.

 

Cash Unit Costs

Free Cash Flow

Return on Average Capital Employed

Drilling and Completion Costs per mcfe

Drilling Rate of Return

Net Debt

Emissions Performance
       
Total Shareholder Return Amount $ 762 639 518 368 138
Peer Group Total Shareholder Return Amount 255 212 212 142 76
Net Income (Loss) $ 266,000,000 $ 871,000,000 $ 1,183,000,000 $ 412,000,000 $ (712,000,000)
Company Selected Measure Amount 1,404,000,000 1,576,000,000 1,869,000,000 2,736,000,000 3,115,000,000
Measure:: 1          
Pay vs Performance Disclosure          
Name Cash Unit Costs        
Measure:: 2          
Pay vs Performance Disclosure          
Name Free Cash Flow        
Measure:: 3          
Pay vs Performance Disclosure          
Name Return on Average Capital Employed        
Measure:: 4          
Pay vs Performance Disclosure          
Name Drilling and Completion Costs per mcfe        
Measure:: 5          
Pay vs Performance Disclosure          
Name Drilling Rate of Return        
Measure:: 6          
Pay vs Performance Disclosure          
Name Net Debt        
Measure:: 7          
Pay vs Performance Disclosure          
Name Emissions Performance        
Jeffrey L. Ventura          
Pay vs Performance Disclosure          
PEO Total Compensation Amount   $ 592,899 $ 7,930,872 $ 7,542,954 $ 6,704,788
PEO Actually Paid Compensation Amount   $ 7,148,610 $ 20,623,893 $ 29,861,807 $ 12,846,337
PEO Name   Mr. Ventura Mr. Ventura Mr. Ventura Mr. Ventura
Dennis L. Degner          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 7,492,829 $ 6,181,944 $ 6,181,944    
PEO Actually Paid Compensation Amount $ 11,913,564 $ 11,224,955      
PEO Name Mr. Degner Mr. Degner      
PEO | Jeffrey L. Ventura | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   $ 0 (5,799,964) $ (4,799,996) $ (3,922,995)
PEO | Jeffrey L. Ventura | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   6,555,711 18,492,985 27,118,849 10,064,544
PEO | Jeffrey L. Ventura | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   0 6,899,722 9,397,492 8,992,765
PEO | Jeffrey L. Ventura | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   5,103,067 7,014,919 15,001,036 1,189,549
PEO | Jeffrey L. Ventura | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   1,452,644 4,578,344 2,720,321 (117,770)
PEO | Dennis L. Degner | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (5,131,610) (3,925,016)      
PEO | Dennis L. Degner | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 9,552,345 8,968,027      
PEO | Dennis L. Degner | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 6,991,008 4,950,314      
PEO | Dennis L. Degner | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,184,499 3,142,953      
PEO | Dennis L. Degner | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 376,837 874,760      
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,415,158) (1,324,995) (1,749,985) (1,744,995) (1,633,999)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,481,400 2,487,878 6,287,102 9,694,287 3,984,360
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,788,384 1,445,579 2,132,512 3,394,488 3,725,287
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 601,154 864,425 2,833,707 5,432,421 292,015
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 91,862 $ 177,874 $ 1,320,883 $ 867,378 $ (32,942)