Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 52

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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,350 169.80 41,016 165.39 Vested(40,011)112.93 — — Forfeited/canceled(1,288)126.93 — — Unvested shares as of March 31, 2025187,065 $133.93 219,155 $105.78 Number ofUnvestedRestricted Stock UnitsWeightedAverageGrant DateFair ValueNumber ofUnvestedPerformance Vesting Restricted Stock UnitsWeightedAverageGrant DateFair ValueUnvested shares as of January 1, 2024193,602 $83.89 255,578 $54.40 Granted69,436 152.54 58,346 156.00 Vested(17,720)75.96 — — Forfeited/canceled(747)99.88 — — Unvested shares as of March 31, 2024244,571 $103.91 313,924 $73.28 The aggregate fair value of share-based awards that vested during the three months ended March 31, 2025 and 2024, were approximately $7.0 million and $1.1 million, respectively, based on the stock price at the time of the vesting. Restricted Stock UnitsRestricted stock units awarded under the Incentive Plan generally vest over a period of 3 years in the case of employees and 1 or 4 years in the case of directors upon the recipient meeting applicable service requirements. Stock-based compensation expense is recorded ratably over the service period. The grant date fair value of restricted stock units represents the closing market price of the Company's common stock on the date of the grant. Unrecognized compensation expense as of March 31, 2025, was $19.8 million. The expense is expected to be recognized over a weighted average period of 2.26 years.Performance Vesting Restricted Stock UnitsThe Company has awarded performance vesting restricted stock units to certain of its executive officers under the Incentive Plan. The number of shares of common stock issued pursuant to the award will be based on a combination of (i) the Company's TSR and (ii) the Company's RTSR for the performance period. Participants will earn from 0% to 200% of the target award based on the Company's TSR and RTSR ranking compared to the TSR of the companies