VAALCO Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Stock-based Compensation and Other Benefit Plans (Tables)

Note 15 - Stock-based Compensation and Other Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2022

Notes Tables

Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

		Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
		*(in thousands)*
Stock-based compensation - equity awards		$	615			$	117			$	1,019			$	440
Stock-based compensation - liability awards			227				397				1,245				1,633
Total stock-based compensation		$	842			$	514			$	2,264			$	2,073

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

		*Six Months Ended June 30,*
		*2022*				*2021*
Weighted average exercise price - ($/share)		$	6.41			$	3.14
Expected life in years			6.0				6.0
Average expected volatility			72	%			75	%
Risk-free interest rate			1.98	%			0.95	%
Expected dividend yield			2.30	%			—
Weighted average grant date fair value - ($/share)		$	2.84			$	2.07

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

		*Number of Shares Underlying Options*				*Weighted Average Exercise Price Per Share*				*Weighted Average Remaining Contractual Term*				*Aggregate Intrinsic Value*
		*(in thousands)*								*(in years)*
Outstanding at January 1, 2022			359			$	1.96
Granted			241				6.41
Exercised			—				—
Unvested shares forfeited			—				—
Vested shares expired			—				—
Outstanding at June 30, 2022			600			$	3.75				8.84			$	1,916
Exercisable at June 30, 2022			194			$	1.68				8.16			$	1,017

		*Number of Shares Underlying Options*				*Weighted Average Exercise Price Per Share*				*Weighted Average Remaining Contractual Term*				*Aggregate Intrinsic Value*
		*(in thousands)*								*(in years)*
Outstanding at January 1, 2022			615			$	1.58
Granted			—				—
Exercised			(229	)			1.12
Unvested shares forfeited			—				—
Vested shares expired			—				—
Outstanding at June 30, 2022			386			$	1.86				1.46			$	1,965
Exercisable at June 30, 2022			386			$	1.86				1.46			$	1,965

Nonvested Restricted Stock Shares Activity [Table Text Block]

		*Restricted Stock*				*Weighted Average Grant Date Fair Value*
		*(in thousands)*
Non-vested shares outstanding at January 1, 2022			741			$	2.36
Awards granted			384				6.56
Awards vested			(334	)			2.25
Awards forfeited			(30	)			3.50
Non-vested shares outstanding at June 30, 2022			761			$	4.48

Share-Based Payment Arrangement, Stock Appreciation Right, Activity [Table Text Block]

		*Number of Shares Underlying SARs*				*Weighted Average Exercise Price Per Share*				*Weight Average Remaining Contractual Term*				*Aggregate Intrinsic Value*
		*(in thousands)*								*(in years)*				*(in thousands)*
Outstanding at January 1, 2022			362			$	1.81
Granted			—				—
Exercised			(153	)			1.71
Unvested SARs forfeited			—				—
Vested SARs expired			—				—
Outstanding at June 30, 2022			209			$	1.88				1.36			$	1,055
Exercisable at June 30, 2022			209			$	1.88				1.36			$	1,055