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)

9 Months Ended

Sep. 30, 2022

Notes Tables

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

		*Three Months Ended September 30,*								*Nine Months Ended September 30,*
		*2022*				*2021*				*2022*				*2021*
		*(in thousands)*
Stock-based compensation - equity awards		$	541			$	327			$	1,560			$	767
Stock-based compensation - liability awards			(505	)			(302	)			740				1,331
Total stock-based compensation		$	36			$	25			$	2,300			$	2,098

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

		*Nine Months Ended September 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 September 30, 2022			600			$	3.75				8.59			$	861
Exercisable at September 30, 2022			194			$	1.68				7.90			$	518

		*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 September 30, 2022			386			$	1.86				1.21			$	968
Exercisable at September 30, 2022			386			$	1.86				1.21			$	968

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			(32	)			3.69
Non-vested shares outstanding at September 30, 2022			759			$	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 September 30, 2022			209			$	1.88				1.11			$	517
Exercisable at September 30, 2022			209			$	1.88				1.11			$	517