Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.7.0.1
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2017
Share-based Compensation [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
During the three months ended March 31, 2017 and 2016, the Company’s stock-based compensation cost was $2.6 million and $3.3 million, respectively, of which the Company capitalized $1.0 million and $1.3 million, respectively, relating to its exploration and development efforts.
The following table summarizes restricted stock activity for the three months ended March 31, 2017:
 
 
Number of
Unvested
Restricted Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested shares as of January 1, 2017
613,056

 
$
32.90

Granted
477,768

 
17.74

Vested
(153,868
)
 
31.98

Forfeited
(65,438
)
 
31.23

Unvested shares as of March 31, 2017
871,518

 
$
24.88


Unrecognized compensation expense as of March 31, 2017 related to restricted shares was $18.1 million. The expense is expected to be recognized over a weighted average period of 1.66 years.