Company: MGY
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001698990-25-000006
Chunk: 125

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 125
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494)23.58 Forfeited(113,108)21.69 (17,568)19.54 (49,127)22.30 Unvested, end of period1,408,980 $21.44 245,527 $19.25 528,281 $22.45 (1)    The weighted average grant date fair values of the RSUs granted during the years ended December 31, 2023 and 2022 were $22.78 and $21.14 per share, respectively. The weighted average grant date fair values of the PRSUs granted during the years ended December 31, 2023 and 2022 were $22.28 and $19.22 per share, respectively. The weighted average grant date fair values of the PSUs granted during the year ended December 31, 2023 was $24.69.Restricted Stock UnitsThe 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 basis over the requisite service period for each separately vesting portion of the award, as if the award was, in-substance, multiple awards. The aggregate fair values of RSUs that vested during the years ended December 31, 2024, 2023, and 2022 were $12.2 million, $11.2 million, and $13.8 million, respectively. Unrecognized compensation expense related to unvested RSUs as of December 31, 2024 was $20.0 million, which the Company expects to recognize over a weighted average period of 1.9 years.

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Performance Restricted Stock Units and Performance Share UnitsThe Company has granted PRSUs to certain employees. Each PRSU represents the contingent right to receive one share