Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.4.0.3
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2016
Share-based Compensation [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
During three months ended March 31, 2016 and 2015, the Company’s stock-based compensation cost was $3.3 million and $3.5 million, respectively, of which the Company capitalized $1.3 million and $1.4 million, respectively, relating to its exploration and development efforts.
 The following table summarizes restricted stock activity for the three months ended March 31, 2016:
 
 
Number of
Unvested
Restricted Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested shares as of January 1, 2016
484,239

 
$
43.51

Granted
236,084

 
27.30

Vested
(100,310
)
 
45.00

Forfeited
(4,212
)
 
36.69

Unvested shares as of March 31, 2016
615,801

 
$
37.10


Unrecognized compensation expense as of March 31, 2016 related to restricted shares was $18.7 million. The expense is expected to be recognized over a weighted average period of 1.72 years.