Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.5.0.2
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2016
Share-based Compensation [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
During the three and nine months ended September 30, 2016 , the Company’s stock-based compensation cost was $3.0 million and $9.6 million, respectively, of which the Company capitalized $1.2 million and $3.8 million, respectively, relating to its exploration and development efforts. During the three and nine months ended September 30, 2015, the Company’s stock-based compensation cost was $3.9 million and $10.6 million, respectively, of which the Company capitalized $1.5 million and $4.2 million, respectively, relating to its exploration and development efforts.
 The following table summarizes restricted stock activity for the nine months ended September 30, 2016:
 
 
Number of
Unvested
Restricted Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested shares as of January 1, 2016
484,239

 
$
43.51

Granted
446,291

 
27.80

Vested
(226,283
)
 
43.26

Forfeited
(8,998
)
 
34.59

Unvested shares as of September 30, 2016
695,249

 
$
33.62


Unrecognized compensation expense as of September 30, 2016 related to restricted shares was $18.4 million. The expense is expected to be recognized over a weighted average period of 1.72 years.