Company: GPOR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000874499-25-000006
Chunk: 110

Company: GULFPORT ENERGY CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 110
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 payment, including accrued interest, totaled $26.6 million. As of October 29, 2025 the Company had $33.0 million in borrowings outstanding on its Credit Facility.

Debt issuance and loan commitment fees. During the nine months ended September 30, 2024, the Company incurred debt issuance and loan commitment fees of $14.8 million related to the issuance of the 2029 Senior Notes and the Fourth Amendment to the Credit Facility. See Note 4 of our consolidated financial statements for further discussion of the long-term debt activity.

Repurchases of common stock. During the nine months ended September 30, 2025, the Company repurchased 1.1 million shares for approximately $201.3 million under the Repurchase Program at a weighted average price of $180.05 per share. For the same period in 2024, the Company repurchased 0.7 million shares for $104.4 million at a weighted average price of $146.60 per share. As of October 29, 2025, we repurchased 6.8 million shares for approximately $814.4 million under the Repurchase Program at a weighted average price of $118.98 per share.

Redemption of preferred stock. On August 5, 2025, Gulfport issued a notice of redemption for its preferred stock for cash. During the period between the date of the notice of redemption and the Redemption Date, 28,907 shares of preferred stock were converted into approximately 2.1 million shares of common stock. On the Redemption Date, the Company redeemed the remaining 2,449 shares of preferred stock for cash totaling $31.3 million. Additionally, direct transaction-related costs of $1.1 million were incurred as part of the redemption. See Note 5 of our consolidated financial statements for further discussion of the redemption of preferred stock.

Net cash payments on performance vesting restricted stock units. During the nine months ended September 30, 2025, the Company settled certain performance vesting restricted stock units awards that were granted in 2022 in cash for $12.3 million, as discussed in Note 7 of our consolidated financial statements.

Dividends on preferred stock. During the nine months ended September 30, 2025, the Company paid $1.7 million of cash dividends to holders of our preferred stock compared to $3.3 million in the nine months ended September 30, 2024.

Shares exchanged for tax withhold