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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Changes in Unvested Restricted Stock A summary of the changes in unvested RSUs is presented below:
 
Unvested
Restricted Stock Units		Weighted Average
Grant Date
Fair Value Per Share
(in thousands)
Unvested as of December 31, 2021775 $46.77 
Granted666 $81.87 
Vested(300)$48.11 
Forfeited(184)$56.54 
Unvested as of December 31, 2022957 $68.91 
Granted440 $72.25 
Vested(329)$61.66 
Forfeited(128)$68.42 
Unvested as of December 31, 2023940 $73.08 
Granted (a)
962 $83.09 
Vested (a)
(925)$74.18 
Forfeited(20)$77.71 
Unvested as of December 31, 2024957 $81.99 
_________________________________________
(a)Approximately 5.2 million Southwestern RSUs were converted to 478 thousand Company RSUs, of which approximately 384 thousand RSUs were accelerated. We recognized the accelerated share-based compensation expense related to these awards in other operating expense, net on our consolidated statements of operations. Additionally, approximately 105 thousand RSUs were accelerated related to one-time termination benefits for certain employees.
Schedule Valuation Assumptions
The following table presents the assumptions used in the valuation of the PSUs granted during the years ended December 31, 2024, 2023 and 2022.
Assumption - TSR, rTSR2024 PSU Awards2023 PSU Awards2022 PSU Awards
Risk-free interest rate4.55 %3.85 %2.00 %
Volatility39.36 %64.4 %70.2 %
Summary of the Changes in Unvested Performance Share A summary of the changes in unvested PSUs is presented below:
Unvested Performance Share UnitsWeighted Average
Grant Date
Fair Value Per Share
(in thousands)
Unvested as of December 31, 2021183 $66.12 
Granted133 $109.65 
Vested— $— 
Forfeited(40)$57.48 
Unvested as of December 31, 2022276 $88.28 
Granted131 $78.78 
Vested— $— 
Forfeited(13)$68.77 
Unvested as of December 31, 2023394 $85.78 
Granted133 $95.33 
Vested(151)$71.29 
Forfeited— $— 
Unvested as of December 31, 2024376 $94.67 
Schedule of compensation costs (credit), net of actual forfeitures
We recognized the following compensation costs, net of actual forfeitures, related to RSUs and PSUs for the periods presented:
Years Ended December 31,
202420232022
General and administrative expenses$33 $29 $19 
Natural gas and oil properties7 6 4 
Production expense4 4 3 
Separation and other termination costs9 — — 
Other operating expense, net28 — — 
Total RSU and PSU compensation$81 $39 $26 
Related income tax benefit$13 $7 $6