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)

3 Months Ended

Mar. 31, 2023

Notes Tables

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

		*Three Months Ended March 31,*
		*2023*				*2022*
		*(in thousands)*
Stock-based compensation - equity awards		$	675			$	404
Stock-based compensation - liability awards			(26	)			1,018
Total stock-based compensation		$	649			$	1,422

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

		*Three Months Ended March 31,*
		*2022*
Weighted average exercise price - ($/share)		$	6.41
Expected life in years			6.0
Average expected volatility			72	%
Risk-free interest rate			1.98	%
Expected dividend yield			2.30	%
Weighted average grant date fair value - ($/share)		$	2.84

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)*				*(in thousands)*
Outstanding at January 1, 2023			444			$	3.98
Granted			—				—
Exercised			(74	)			(1.68	)
Unvested shares forfeited			—				—
Vested shares expired			—				—
Outstanding at March 31, 2023			370			$	4.40				8.30			$	414
Exercisable at March 31, 2023			166			$	3.91				8.15			$	224

		*Number of Shares Underlying Options*				*Weighted Average Exercise Price Per Share*				*Weighted Average Remaining Contractual Term*				*Aggregate Intrinsic Value*
		*(in thousands)*								*(in years)*				*(in thousands)*
Outstanding at January 1, 2023			387			$	1.86
Granted			—				—
Exercised			(99	)			(1.50	)
Unvested shares forfeited			—				—
Vested shares expired			—				—
Outstanding at March 31, 2023			288			$	1.98				0.81			$	732
Exercisable at March 31, 2023			288			$	1.98				0.81			$	732

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, 2023			665			$	4.59
Awards granted			—				—
Awards vested			(205	)			4.82
Awards forfeited			—				—
Non-vested shares outstanding at March 31, 2023			460			$	4.49

		*Restricted Stock*				*Weighted Average Conversion Date Fair Value*
		*(in thousands)*
Non-vested shares outstanding at January 1, 2023			383			$	4.27
Awards granted			—				—
Awards vested			(121	)			4.27
Awards forfeited			(23	)			4.27
Non-vested shares outstanding at March 31, 2023			239			$	4.27

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

		*Restricted Stock*				*Weighted Average Conversion Date Fair Value*
		*(in thousands)*
Non-vested shares outstanding at January 1, 2023			690			$	4.27
Awards granted			—				—
Awards vested			(134	)			4.27
Awards forfeited			(36	)			4.27
Non-vested shares outstanding at March 31, 2023			520			$	4.27

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

		*Number of Shares Underlying SARs*				*Weighted Average Exercise Price Per Share*				*Weighted Average Remaining Contractual Term*				*Aggregate Intrinsic Value*
		*(in thousands)*								*(in years)*				*(in thousands)*
Outstanding at January 1, 2023			202			$	1.87
Granted			—				—
Exercised			(63	)			0.86
Unvested SARs forfeited			—				—
Vested SARs expired			—				—
Outstanding at March 31, 2023			139			$	2.33				0.92			$	304
Exercisable at March 31, 2023			139			$	2.33				0.92			$	304