Company: EXEEZ
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000895126-25-000084
Chunk: 36

Company: EXPAND ENERGY Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 Fair Value Per Share(in thousands)Unvested as of December 31, 2024376 $94.67 Granted250 $125.64 Vested(124)$109.71 Forfeited(4)$125.64 Unvested as of June 30, 2025498 $106.22 The aggregate intrinsic value of PSUs that vested during the Current Period was approximately $20 million based on the stock price at the time of vesting.As of June 30, 2025, there was approximately $37 million of total unrecognized compensation expense related to unvested PSUs. The expense is expected to be recognized over a weighted average period of approximately 2.44 years.RSU and PSU Compensation. We recognized the following compensation costs, net of actual forfeitures, related to RSUs and PSUs for the periods presented: Three Months Ended June 30,Six Months Ended June 30,2025202420252024General and administrative expenses$10 $9 $18 $17 Natural gas and oil properties3 2 4 4 Production expense1 1 2 2 Separation and other termination costs— 9 — 9 Marketing expense1 — 2 — Other operating expense, net1 — 3 — Total RSU and PSU compensation$16 $21 $29 $32 Related income tax benefit$4 $7 $8 $9 

11.Derivative and Hedging ActivitiesWe use derivative instruments to reduce our exposure to fluctuations in future commodity prices and to protect our expected operating cash flow against significant market movements or volatility. These commodity contract  derivative financial instruments include financial price swaps, collars, call options and basis protection swaps. All of our commodity contract derivative instruments are net settled based on the difference between the fixed-price payment and the floating-price payment, resulting in a net amount due to or from the counterparty. We do not intend to hold or issue derivative financial instruments for speculative trading purposes and have elected not to designate any of our derivative instruments for hedge accounting treatment.The estimated fair values of our natural gas, oil and NGL derivative instrument assets (liabilities) as of June 30, 2025 and December 31, 2024 are provided below: 

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Table of ContentsEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATE