Company: MGY
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001698990-25-000013
Chunk: 19

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 19
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 in additional compensation expense of $0.4 million recognized within “General and administrative expenses” on the consolidated statements of operations. The modification affected three grantees.

12

Equity-Classified Stock Based CompensationThe following table presents a summary of Magnolia’s equity-classified unvested RSU, PRSU, and PSU activity for the three months ended March 31, 2025.Restricted Stock UnitsPerformance Restricted Stock UnitsPerformance Stock UnitsUnitsWeighted Average Grant Date Fair ValueUnitsWeighted Average Grant Date Fair ValueUnitsWeighted Average Grant Date Fair ValueUnvested at December 31, 20241,408,980 $21.44 245,527 $19.25 528,281 $22.45 Granted719,886 23.00 — — 179,802 19.87 Modified— — — — (193,871)22.36 Vested (1)(490,618)21.31 (237,447)19.16 — — Forfeited(11,276)22.12 — — — — Unvested at March 31, 20251,626,972 $22.16 8,080 $22.16 514,212 $21.58 (1)47,628 PRSUs were settled in cash for $1.1 million during the three months ended March 31, 2025.The weighted average grant date fair values of the RSUs and PSUs granted during the three months ended March 31, 2024 were $20.36 and $21.12 per share, respectively.Restricted Stock Units The Company grants service-based RSU awards to employees, which generally vest and settle ratably over a three-year or four-year service period, and to non-employee directors, which vest in full after one year. Non-employee directors may elect to defer the RSU settlement date. RSUs represent the right to receive shares of Class A Common Stock at the end of the vesting period equal to the number of RSUs that vest. RSUs are subject to restrictions on transfer and are generally subject to a risk of forfeiture if the award recipient ceases to be an employee or director of the Company prior to vesting of the award. Compensation expense for the service-based RSU awards is based upon the grant date market value of the award and such costs are recorded on a straight-line