Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation

v3.10.0.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2018
Share-based Compensation [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
During the years ended December 31, 2018, 2017 and 2016 the Company’s stock-based compensation cost was $11.3 million, $10.6 million and $12.3 million, respectively, of which the Company capitalized $4.5 million, $4.2 million and $4.9 million, respectively, relating to its exploration and development efforts.
The following table summarizes restricted stock activity for the twelve months ended December 31, 2018, 2017 and 2016: 
 
Number of
Unvested
Restricted Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested shares as of January 1, 2016
484,239

 
$
43.51

Granted
451,241

 
27.78

Vested
(252,566
)
 
43.94

Forfeited
(69,858
)
 
33.43

Unvested shares as of December 31, 2016
613,056

 
$
32.90

Granted
876,846

 
$
15.14

Vested
(423,977
)
 
29.90

Forfeited
(89,898
)
 
27.91

Unvested shares as of December 31, 2017
976,027

 
$
18.71

Granted
1,579,911

 
9.90

Vested
(626,671
)
 
18.05

Forfeited
(393,456
)
 
12.23

Unvested shares as of December 31, 2018
1,535,811

 
$
11.57


Unrecognized compensation expense as of December 31, 2018 related to outstanding stock options and restricted shares was $13.9 million. The expense is expected to be recognized over a weighted average period of 1.60 years.