W&T Offshore, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation and Cash-Based Incentive Compensation (Tables)

Share-Based Compensation and Cash-Based Incentive Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Outstanding Restricted Stock Shares Issued to Non-employee Directors

Subject to the satisfaction of service conditions, the outstanding Restricted Shares issued to the non-employee directors as of March 31, 2015 are expected to vest as follows:

	Restricted Shares
2015		21,520
2016		15,420
2017		6,270
Total		43,210

Summary of Share Activity Related to Restricted Stock Units

A summary of activity in 2015 related to RSUs is as follows:

	Restricted Stock Units
				Weighted Average
				Grant Date Fair
	Units			Value Per Unit
Nonvested, December 31, 2014		1,977,335		$	15.29
Forfeited		(49,541	)		15.20
Nonvested, March 31, 2015		1,927,794		$	15.29

Schedule of Restricted Stock Units Outstanding

All of the outstanding RSUs are subject to the satisfaction of service conditions and a portion of the outstanding RSUs are also subject to pre-defined performance measurements. The RSUs outstanding as of March 31, 2015 potentially eligible to vest are listed in the table below:

	Restricted Stock Units
2015 - subject to service requirements		739,620
2015 - subject to service and other requirements ⁽¹⁾		87,701
2016 - subject to service requirements		1,100,473
Total		1,927,794


(1)	In addition to service requirements, these RSUs are also subject to TSR performance requirements not yet measureable, with awards ranging from 0% to 200% of amounts granted.

Summary of Incentive Compensation Expense under Share-Based Payment Arrangements and Related Tax Benefit

A summary of incentive compensation expense under share-based payment arrangements and the related tax benefit is as follows (in thousands):

	Three Months Ended
	March 31,
	2015			2014
Share-based compensation expense from:
Restricted stock	$	93		$	99
Restricted stock units		2,817			2,537
Common shares		(94	)		1,122
Total	$	2,816		$	3,758
Share-based compensation tax benefit:
Tax benefit computed at the statutory rate	$	986		$	1,315

Summary of Incentive Compensation Expense

A summary of incentive compensation expense is as follows (in thousands):

	Three Months Ended
	March 31,
	2015			2014
Share-based compensation included in:
General and administrative	$	2,816		$	3,758
Cash-based incentive compensation included in:
Lease operating expense		361			1,302
General and administrative⁽¹⁾		(233	)		1,781
Total charged to operating income	$	2,944		$	6,841

(1)	Adjustments to true up estimates to actual payments resulted in net credit balances to expense for the three months ended March 31, 2015.