Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 61

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 market or privately negotiated transactions, and will be subject to available liquidity, market conditions, credit agreement restrictions, applicable legal requirements, contractual obligations and other factors. The Repurchase Program does not require the Company to acquire any specific number of shares of common stock. The Company intends to purchase shares under the Repurchase Program with available funds while maintaining sufficient liquidity to fund its capital development program. The Repurchase Program may be suspended from time to time, modified, extended or discontinued by the Board of Directors at any time.

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The following tables summarize activity under the Repurchase Program for the three and six months ended June 30, 2025 and 2024 (dollar value of shares purchased shown in thousands):Three Months Ended June 30, 2025Three Months Ended June 30, 2024Total number of shares purchased338,886160,622Dollar value of shares purchased$65,000 $25,000 Average price paid per share$191.80 $155.65 Six Months Ended June 30, 2025Six Months Ended June 30, 2024Total number of shares purchased679,550370,697Dollar value of shares purchased$125,000 $54,492 Average price paid per share$183.95 $147.00 As of June 30, 2025, the Company has repurchased 6.2 million shares for $709.1 million at a weighted average price of $113.48 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 equal to 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 three and six months ended June 30, 2025, the Company's stock-based compensation expense was $4.9 million and $9.4 million, respectively, of which the Company capitalized $1.6 million and $3.1 million, respectively, relating to its exploration and development efforts. During the three and six months ended June 30, 2024, the Company