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, 2023

Notes Tables

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

		*Three Months Ended June 30,*								*Six Months Ended June 30,*
		*2023*				*2022*				*2023*				*2022*
		*(in thousands)*
Stock-based compensation - equity awards		$	706			$	615			$	1,381			$	1,019
Stock-based compensation - liability awards			(101	)			227				(127	)			1,245
Total stock-based compensation		$	605			$	842			$	1,254			$	2,264

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

		*Six Months Ended June 30,*
		*2023*				*2022*
Weighted average exercise price - ($/share)		$	4.19			$	6.41
Expected life in years			6.4				6.0
Average expected volatility			68	%			72	%
Risk-free interest rate			3.73	%			1.98	%
Expected dividend yield			5.97	%			2.30	%
Weighted average grant date fair value - ($/share)		$	2.29			$	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			$	3.95
Granted			335				4.19
Exercised			(74	)			(1.68	)
Unvested shares forfeited			—				—
Vested shares expired			—				—
Outstanding at June 30, 2023			705			$	4.30				8.95			$	280
Exercisable at June 30, 2023			211			$	3.34				7.70			$	262

		*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			(164	)			(1.56	)
Unvested shares forfeited			—				—
Vested shares expired			—				—
Outstanding at June 30, 2023			223			$	2.07				0.73			$	376
Exercisable at June 30, 2023			223			$	2.07				0.73			$	376

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			797				4.19
Awards vested			(354	)			3.92
Awards forfeited			(12	)			5.73
Non-vested shares outstanding at June 30, 2023			1,096			$	4.51

		*Restricted Stock*				*Weighted Average Conversion Date Fair Value*
		*(in thousands)*
Non-vested shares outstanding at January 1, 2023			383			$	4.27
Awards granted			183				4.19
Awards vested			(259	)			4.27
Awards forfeited			(23	)			4.27
Non-vested shares outstanding at June 30, 2023			284			$	4.22

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			(514	)			4.27
Awards forfeited			(36	)			4.27
Non-vested shares outstanding at June 30, 2023			140			$	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 June 30, 2023			139			$	2.33				0.64			$	198
Exercisable at June 30, 2023			139			$	2.33				0.64			$	198