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Stock Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Stock Compensation  
Schedule of nonvested restricted stock units activity
A summary of the status of our nonvested non-performance-based RSUs issued and the changes during the Successor period is presented below:
Number
of Awards
Weighted
Average
Grant-Date
Fair Value
Nonvested at September 19, 2020 (Successor)— $— 
Granted1,219,867 24.67 
Vested— — 
Forfeited— — 
Nonvested at December 31, 2020 (Successor)1,219,867 24.67 
Summary of SARs activity
The following is a summary of the Predecessor’s SAR activity:
Number
of Awards
Weighted
Average
Exercise Price
Weighted Average Remaining Contractual Life
(in years)
Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 2019 (Predecessor)1,981,156 $9.12 
Granted— — 
Exercised— — 
Forfeited— — 
Expired(580,087)12.38 
Cancelled(1,401,069)7.77 
Outstanding at September 18, 2020 (Predecessor)— — $— 
Exercisable at end of period— $— $— 
Schedule of stock-based compensation costs
The following table sets forth stock-based compensation costs for the periods indicated:

SuccessorPredecessor
 Period from Sept. 19, 2020 through
Dec. 31, 2020
Period from Jan. 1, 2020 through
Sept. 18, 2020
Year Ended December 31,
In thousands20192018
Stock-based compensation expense included in G&A$8,212 $4,111 $12,470 $11,951 
Stock-based compensation capitalized695 1,660 4,018 3,487 
Total cost of stock-based compensation arrangements$8,907 $5,771 $16,488 $15,438 
Income tax benefit recognized for stock-based compensation arrangements$2,053 $1,028 $3,118 $2,988 
Performance Share Units  
Stock Compensation  
Performance and vesting terms under performance share unit awards The PSU awards vest based on Denbury’s stock price reaching certain levels (based on the daily volume-weighted average common stock price on the New York Stock Exchange (“NYSE”) for any consecutive 60-day trading period), as shown in the table below, but delivery of the shares will not occur until the conclusion of the three-year performance period. Shares to be delivered to participants are expected to be made available from authorized but unissued shares reserved under the LTIP.
TierStock Price Hurdle
Cumulative Percentage of PSUs Granted Hereunder that Become Vested(1)
0Less than $18.750%
1$18.7525%
2$21.0050%
3$23.2575%
4$25.75100%
(1)If the 60-day volume-weighted average price falls between the Stock Price Hurdles in Tier 1, 2, 3 or 4, then the cumulative percentage of PSUs granted that become vested shall be calculated using straight-line interpolation between the corresponding percentages in the table above.
Summary of performance-based equity awards valuation assumptions The range of assumptions used in the Monte Carlo simulation valuation approach is as follows:
Successor
Period from Sept. 19, 2020 through
Dec. 31, 2020
 
Weighted average fair value of PSU awards granted$24.19 
Risk-free interest rate0.21 %
Expected life0.23 years
Expected volatility110.0 %
Dividend yield— %
Schedule of nonvested performance stock unit awards activity
A summary of the status of the nonvested PSU awards during the Successor period is as follows:
Number
of Awards
Weighted
Average
Grant-Date Fair Value
Nonvested at September 19, 2020 (Successor)— $— 
Granted1,021,222 24.19 
Vested— — 
Forfeited— — 
Nonvested at December 31, 2020 (Successor)1,021,222 24.19 
Restricted Stock  
Stock Compensation  
Summary of the total vesting date fair value of equity awards
The following is a summary of the total vesting date fair value of non-performance-based restricted stock:
Predecessor
Period from Jan. 1, 2020 through
Sept. 18, 2020
Year Ended December 31,
In thousands20192018
Fair value of restricted stock vested$707 $5,743 $23,060 
Summary of non-performance-based restricted stock activity
A summary of the status of our nonvested non-performance-based restricted stock grants issued and the changes during the Predecessor period is presented below:
Number
of Shares
Weighted
Average
Grant-Date
Fair Value
Nonvested at December 31, 2019 (Predecessor)12,407,436 $1.91 
Granted— — 
Vested(2,743,473)2.10 
Forfeited— — 
Cancelled(9,663,963)1.85 
Nonvested at September 18, 2020 (Predecessor)— — 
Performance-Based Equity Awards  
Stock Compensation  
Summary of performance-based equity awards valuation assumptions The range of assumptions used in the Monte Carlo simulation valuation approach for Performance-Based TSR Awards (presented at the target level) is as follows:
Predecessor
Period from Jan. 1, 2020 through
Sept. 18, 2020
Year Ended December 31,
 20192018
Weighted average fair value of Performance-Based TSR Awards granted$0.15 $1.95 $2.29 
Risk-free interest rate0.27 %2.27 %2.37 %
Expected life3.0 years3.0 years3.0 years
Expected volatility89.6 %77.2 %102.9 %
Dividend yield— %— %— %
Summary of the total vesting date fair value of equity awards
The following is a summary of the total vesting date fair value of performance-based equity awards for the Predecessor:
Predecessor
Period from Jan. 1, 2020 through
Sept. 18, 2020
Year Ended December 31,
In thousands20192018
Vesting date fair value of Performance-Based Operational Awards$— $— $595 
Vesting date fair value of Performance-Based TSR Awards79 2,783 542 
Summary of nonvested performance-based equity awards
A summary of the status of the nonvested performance-based equity awards (presented at the target level) during the Predecessor period is as follows:
Performance-Based
Operational Awards
Performance-Based
TSR Awards
Number
of Awards
Weighted
Average
Grant-Date Fair Value
Number
of Awards
Weighted
Average
Grant-Date Fair Value
Nonvested at December 31, 2019 (Predecessor)1,838,584 $2.27 4,475,998 $2.65 
Granted(1)
— — 3,041,774 0.15 
Vested(2)
— — (742,996)3.42 
Forfeited(102,469)2.28 (385,183)1.26 
Cancelled(1,736,115)2.27 (6,389,593)1.23 
Nonvested at September 18, 2020 (Predecessor)— — — — 
(1)Amounts granted reflect the number of performance units granted. The actual payout of the shares were between 0% and 200%, with any amounts earned above the 100% target levels payable in cash, rather than in shares of stock, in order to conserve available shares.
(2)During 2020, the service period lapsed on these TSR performance unit awards. The lapsed units earned a weighted average of 59% of target for each vested TSR performance-based award, representing 438,363 aggregate shares of Predecessor common stock issued. There were no vestings related to the Predecessor’s Operational performance-based awards during 2020.