Company: CRK
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024783
Chunk: 33

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 33
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 restricted shares of common stock and PSUs to key employees and directors as part of their compensation. Grants are made pursuant to the Company's 2019 Long-term Incentive Plan (the "2019 Plan"), which was approved by the Company's shareholders on May 31, 2019. Future authorized equity awards available under the 2019 Plan as of December 31, 2024 were 872,099 shares of common stock.Stock-based compensation expense is included in general and administrative expenses. During the years ended December 31, 2024, 2023 and 2022 the Company had $15.3 million, $9.9 million and $6.6 million, respectively, in stock-based compensation expense.

F-18

COMSTOCK RESOURCES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

Restricted StockThe fair value of restricted stock grants is amortized over the vesting period, generally one year to three years, using the straight-line method. The fair value of each restricted share on the date of grant is equal to the market price of a share of the Company's stock.A summary of restricted stock activity is presented below: 

        Number ofRestrictedShares

        WeightedAverageGrant Price

        Outstanding at January 1, 2024

        1,429,084

        $
        11.62

        Granted

        1,315,984

        $
        7.78

        Vested

        (652,781
        )
         
        $
        11.49

        Forfeitures

        (1,200
        )
         
        $
        7.63

        Outstanding at December 31, 2024

        2,091,087

        $
        9.25

        Year Ended December 31,

        2024

        2023

        2022

        (In thousands, except per share data)

        Fair value of vested restricted stock
         
        $
        7,536

        $
        4,241

        $
        11,080

        Grant date weighted average fair value
         
        $
        7.78

        $
        9.80

        $
        17.70

        Compensation expense recognized for restricted stock grants
         
        $
        9,884

        $
        6,519

        $