Company: CRK
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024783
Chunk: 28

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 28
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's shareholders.Weighted average shares of unvested restricted stock outstanding were as follows: 

          Year Ended December 31,

          2024

          2023

          2022

          (in thousands)

          Unvested restricted stock

          2,187

          1,248

          926

         PSUs represent the right to receive a number of shares of the Company's common stock that may range from zero to up to two times the number of PSUs granted on the award date based on the achievement of certain performance measures during a performance period. The number of potentially dilutive shares related to PSUs is based on the number of shares, if any, which would be issuable at the end of the respective period, assuming that date was the end of the performance period. The treasury stock method is used to measure the dilutive effect of PSUs.  

          Year Ended December 31,

          2024

          2023

          2022

          (In thousands, except per unit amounts)

          Weighted average PSUs

          1,272

          662

          925

          Weighted average grant date fair value per unit
           
          $
          13.21

          $
          15.92

          $
          15.11

         The Series B Convertible Preferred Stock was convertible into 43,750,000 shares of common stock. On November 30, 2022, all outstanding shares of the Series B Convertible preferred stock were converted into 43,750,000 shares of common stock. The dilutive effect of preferred stock is computed using the if-converted method as if conversion of the preferred shares had occurred at the earlier of the date of issuance or the beginning of the period. Weighted average shares of convertible preferred stock outstanding were as follows:  

          Year Ended December 31,

          2024

          2023

          2022

          (In thousands)

          Weighted average convertible preferred stock

          —

          —

          40,034

         None of the Company's participating securities participate in losses and as such are excluded from the computation of basic earnings per share during periods of net losses. For the year ended December 31, 2023, the weighted average shares of unvested restricted stock and PSUs were excluded from the computation of earnings per share because to include them would have been antidilutive to the calculation.

F-