Company: EXEEZ
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000895126-25-000098
Chunk: 35

Company: EXPAND ENERGY Corp
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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99 Granted556 $103.35 Vested(460)$78.46 Forfeited(34)$98.78 Unvested as of September 30, 20251,019 $94.69  The aggregate intrinsic value of RSUs that vested during the Current Period was approximately $52 million based on the stock price at the time of vesting.As of September 30, 2025, there was approximately $68 million of total unrecognized compensation expense related to unvested RSUs. The expense is expected to be recognized over a weighted average period of approximately 2.11 years.Performance Share Units. During the Current Period, 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 during the Current Period.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(130)$108.88 Forfeited(29)$113.57 Unvested as of September 30, 2025467 $106.10 The aggregate intrinsic value of PSUs that vested during the Current Period was approximately $21 million based on the stock price at the time of vesting.As of September 30, 2025, there was approximately $31 million of total unrecognized compensation expense related to unvested PSUs. The expense is expected to be recognized over a weighted average period of approximately 2.23