Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 144

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 144
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ATED FINANCIAL STATEMENTS – (Continued)

The following table presents the assumptions used in the valuation of the PSUs granted during the years ended December 31, 2024, 2023 and 2022.Assumption - TSR, rTSR2024 PSU Awards2023 PSU Awards2022 PSU AwardsRisk-free interest rate4.55 %3.85 %2.00 %Volatility39.36 %64.4 %70.2 %        A summary of the changes in unvested PSUs is presented below:  Unvested Performance Share UnitsWeighted AverageGrant DateFair Value Per Share(in thousands)Unvested as of December 31, 2021183 $66.12 Granted133 $109.65 Vested— $— Forfeited(40)$57.48 Unvested as of December 31, 2022276 $88.28 Granted131 $78.78 Vested— $— Forfeited(13)$68.77 Unvested as of December 31, 2023394 $85.78 Granted133 $95.33 Vested(151)$71.29 Forfeited— $— Unvested as of December 31, 2024376 $94.67 The aggregate intrinsic value of PSUs that vested during the year ended December 31, 2024 was approximately $19 million based on the stock price at the time of vesting.As of December 31, 2024, there was approximately $14 million of total unrecognized compensation expense related to unvested PSUs. The expense is expected to be recognized over a weighted average period of approximately 1.84 years.RSU and PSU Compensation. We recognized the following compensation costs, net of actual forfeitures, related to RSUs and PSUs for the periods presented:Years Ended December 31,202420232022General and administrative expenses$33 $29 $19 Natural gas and oil properties7 6 4 Production expense4 4 3 Separation and other termination costs9 — — Other operating expense, net28 — — Total RSU and PSU compensation$81 $39 $26 Related income tax benefit$13 $7 $6 

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TABLE OF CONTENTSEXPAND ENERGY CORPORATION AND SUBSIDI