Company: EXEEZ
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000895126-25-000053
Chunk: 29

Company: EXPAND ENERGY Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 Directors authorized repurchases of up to $1.0 billion, in aggregate, of the Company’s common stock and/or warrants under a share repurchase program. During the Current Quarter, we did not make any share repurchases. WarrantsClass A WarrantsClass B WarrantsClass C Warrants(a)Outstanding as of December 31, 20241,254,479 3,073,194 4,383,634 Converted into common stock(b)(1,186,019)(2,823,724)(1,600,930)Outstanding as of March 31, 202568,460 249,470 2,782,704 _________________________________________(a)As of March 31, 2025, we had 582,109 of reserved Class C Warrants.

(b)During the three months ended March 31, 2025, we issued 5,320,216 shares of common stock as a result of Warrant exercises. 

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Table of ContentsEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(Unaudited)

10.Share-Based CompensationOur long-term incentive plan, as amended and adopted by our Board of Directors (the “LTIP”), provides for the grant of RSUs, restricted stock awards, stock options, stock appreciation rights, performance awards and other stock awards to the Company’s employees and non-employee directors and has a share reserve equal to 6,800,000 shares of common stock.Restricted Stock Units. During the Current Quarter, we granted RSUs to employees and non-employee directors under the LTIP, which will vest over a three-year period and one-year period, respectively. The fair value of RSUs is based on the closing sales price of our common stock on the date of grant, and compensation expense is recognized ratably over the requisite service period. A summary of the changes in unvested RSUs is presented below:  Unvested Restricted Stock UnitsWeighted Average Grant Date Fair Value Per Share(in thousands)Unvested as of December 31, 2024957 $81.99 Granted524 $102.96 Vested(410)$77.57 Forfeited(5)$94.77 Unvested as of March 31, 20251,066 $93.95  The aggregate intrinsic value of RSUs that vested during the Current Quarter