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

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

3 Months Ended

Mar. 31, 2016

For the outstanding Restricted Shares issued to the non-employee directors as of March 31, 2016, vesting is expected to occur as follows:

A summary of activity in 2016 related to RSUs is as follows:

For the outstanding RSUs issued to the eligible employees as of March 31, 2016, vesting is expected to occur as follows:

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,
	2016		2015
Share-based compensation expense from:
Restricted stock	$	87	$	93
Restricted stock units		2,449		2,817
Common shares		—		(94	)
Total	$	2,536	$	2,816
Share-based compensation tax benefit:
Tax benefit computed at the statutory rate	$	888	$	986

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

	Three Months Ended
	March 31,
	2016		2015
Share-based compensation included in:
General and administrative expenses	$	2,536	$	2,816
Cash-based incentive compensation included in:
Lease operating expense		—		361
General and administrative expenses ⁽¹⁾		—		(233	)
Total charged to operating income	$	2,536	$	2,944

(1)

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