Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 63

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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17,720)75.96 — — Forfeited/canceled(747)99.88 — — Unvested shares as of March 31, 2024244,571 $103.91 313,924 $73.28 Granted(1)6,040 155.61 130,012 48.65 Vested(37,665)95.83 (265,797)48.65 Forfeited/canceled(989)117.19 — — Unvested shares as of June 30, 2024211,957 $106.75 178,139 $92.06 _____________________(1)    The table includes the impacts of performance share units granted in a prior year that vested higher than 100% of target due to the Company's absolute TSR performance and RTSR performance compared to peers. The aggregate fair value of share-based awards that vested during the three and six months ended June 30, 2025, was approximately $19.8 million and $26.8 million, respectively, based on the stock price at the time of vesting. During the three and six months ended June 30, 2024, the aggregate fair value of share-based awards that vested was approximately $48.1 million and $49.2 million, respectively, based on the stock price at the time of vesting.In the three months ended June 30, 2025, upon vesting, the Company settled performance vesting restricted stock units awards that were granted in 2022 in cash. These awards vested at 200% of target due to the Company's performance during the performance period. The awards were classified as equity awards from the grant date as they were intended to be settled in shares. The Company has no history or stated policy of settling such awards in cash, and there is no implied obligation to do so in the future. The total cash outflow related to this settlement was $12.3 million.Restricted Stock UnitsRestricted stock units awarded under the Incentive Plan generally vest over a period of 3 years in the case of employees and 1 or 4 years in the case of directors upon the recipient meeting applicable service requirements. Stock-based compensation expense is recorded ratably over the service period. The grant date fair value of restricted stock units represents the closing market price of the Company's common stock on the date of the grant. Unrecognized compensation expense