Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 400

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 400
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 25,000 155.65 Third quarter 2024341 49,862 146.17 Fourth quarter 2024491 80,123 163.13 Total1,203 $184,477 $153.35 As of December 31, 2024, the Company has repurchased 5.6 million shares for $584.1 million at a weighted average price of $104.88 per share since the inception of the Repurchase Program.

7.STOCK-BASED COMPENSATION

In May 2021, the Board of Directors adopted the Incentive Plan with a share reserve of 2.8 million shares of common stock. The Incentive Plan provides for the grant of incentive stock options, nonstatutory stock options, restricted stock, restricted stock units, stock appreciation rights, dividend equivalents and performance awards or any combination of the foregoing. The Company has granted both restricted stock units and performance vesting restricted stock units to employees and directors pursuant to the Incentive Plan, as discussed below. During the years ended December 31, 2024 and 2023, the Company's stock-based compensation expense was $16.4 million and $12.3 million of which the Company capitalized $5.4 million and $4.0 million, respectively, relating to its exploration and development efforts. Stock compensation expense, net of the amounts capitalized, is included in general and administrative expenses in the accompanying consolidated statements of operations. As of December 31, 2024, the Company has awarded an aggregate of approximately 444,493 restricted stock units and approximately 462,982 performance vesting restricted stock units under the Incentive Plan. The vesting for certain share-based awards was accelerated in the first three months of 2023 in conjunction with the restructuring activities described in Note 13 and is included in restructuring costs in the accompanying consolidated statement of operations.

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Table of ContentsIndex to Financial Statements

The following table summarizes activity for the years ended December 31, 2022, 2023 and 2024:Number ofUnvestedRestricted Stock UnitsWeightedAverageGrant DateFair ValueNumber ofUnvestedPerformance Vesting Restricted Stock UnitsWeightedAverageGrant DateFair ValueUnvested shares as of December 31, 2021198,413 $66.04 153,138 $48.54 Granted78,192 96.90 37,666