Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 143

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 143
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2021775 $46.77 Granted666 $81.87 Vested(300)$48.11 Forfeited(184)$56.54 Unvested as of December 31, 2022957 $68.91 Granted440 $72.25 Vested(329)$61.66 Forfeited(128)$68.42 Unvested as of December 31, 2023940 $73.08 Granted (a)962 $83.09 Vested (a)(925)$74.18 Forfeited(20)$77.71 Unvested as of December 31, 2024957 $81.99 _________________________________________(a)Approximately 5.2 million Southwestern RSUs were converted to 478 thousand Company RSUs, of which approximately 384 thousand RSUs were accelerated. We recognized the accelerated share-based compensation expense related to these awards in other operating expense, net on our consolidated statements of operations. Additionally, approximately 105 thousand RSUs were accelerated related to one-time termination benefits for certain employees.The aggregate intrinsic value of RSUs that vested during the years ended December 31, 2024, 2023 and 2022 was approximately $77 million, $25 million and $26 million, respectively, based on the stock price at the time of vesting. As of December 31, 2024, there was approximately $46 million of total unrecognized compensation expense related to unvested RSUs. The expense is expected to be recognized over a weighted average period of approximately 2.04 years.Performance Share Units. During the years ended December 31, 2024, 2023 and 2022, we granted performance share units (“PSUs”) to senior management under the LTIP, which will generally vest over a three-year period and will be settled in shares. The performance criteria include total shareholder return (“TSR”) and relative TSR (“rTSR”) and could result in a total payout between 0% - 200% of the target units. The fair value of the PSUs was measured on the grant date using a Monte Carlo simulation, and compensation expense is recognized ratably over the requisite service period because these awards depend on a combination of service and market criteria. 

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TABLE OF CONTENTSEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONSOLID