Company: MGY
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001698990-25-000021
Chunk: 20

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 20
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, and PSU activity for the six months ended June 30, 2025.Restricted Stock UnitsPerformance Restricted Stock UnitsPerformance Stock UnitsUnitsWeighted Average Grant Date Fair ValueUnitsWeighted Average Grant Date Fair ValueUnitsWeighted Average Grant Date Fair ValueUnvested at December 31, 20241,408,980 $21.44 245,527 $19.25 528,281 $22.45 Granted785,920 22.82 — — 179,802 19.87 Modified— — — — (193,871)22.36 Vested (1)(537,625)21.66 (240,731)19.19 — — Forfeited(37,048)22.56 (131)19.16 — — Unvested at June 30, 20251,620,227 $22.01 4,665 $22.34 514,212 $21.58 (1)47,628 PRSUs were settled in cash for $1.1 million during the six months ended June 30, 2025.The weighted average grant date fair values of the RSUs and PSUs granted during the six months ended June 30, 2024 were $20.70 and $21.12 per share, respectively.Restricted Stock Units The 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 value of RSUs that vested during the six months ended June 30, 2025 and 2024 were $11.9 million and