Company: EXEEZ
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000895126-25-000053
Chunk: 30

Company: EXPAND ENERGY Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 was approximately $42 million based on the stock price at the time of vesting.As of March 31, 2025, there was approximately $89 million of total unrecognized compensation expense related to unvested RSUs. The expense is expected to be recognized over a weighted average period of approximately 2.53 years.Performance Share Units. During the Current Quarter, we granted PSUs to senior management and certain employees under the LTIP, which will generally vest over a three-year period and will be settled in shares. The performance criteria include total shareholder return (“TSR”) and relative TSR (“rTSR”) and could result in a total payout between 0% - 200% of the target units. The fair value of the PSUs was measured on the grant date using a Monte Carlo simulation, and compensation expense is recognized ratably over the requisite service period because these awards depend on a combination of service and market criteria. The following table presents the assumptions used in the valuation of the PSUs granted in 2025.AssumptionTSR, rTSRRisk-free interest rate4.00 %Volatility33.40 %

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Table of ContentsEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(Unaudited)

A summary of the changes in unvested PSUs is presented below:  Unvested Performance Share UnitsWeighted Average Grant Date Fair Value Per Share(in thousands)Unvested as of December 31, 2024376 $94.67 Granted250 $125.64 Vested(124)$109.71 Forfeited(1)$125.64 Unvested as of March 31, 2025501 $106.32 The aggregate intrinsic value of PSUs that vested during the Current Quarter was approximately $20 million based on the stock price at the time of vesting.As of March 31, 2025, there was approximately $42 million of total unrecognized compensation expense related to unvested PSUs. The expense is expected to be recognized over a weighted average period of approximately 2.66 years.RSU and PSU Compensation. We recognized the following compensation costs, net of actual forfeitures, related to RSUs and PSUs for the periods presented: Three Months Ended March 31,20252024General and administrative expenses$8 $8 Natural gas and oil properties1 2 Production