OBSIDIAN ENERGY LTD.
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2024 · Filed Feb 25, 2025
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Contents
EX-99.2 · Share-Based Compensation
Share-Based Compensation
Share-based compensation expense relates to the options ("Options") granted under the Company's Stock Option Plan (the “Option Plan”), restricted share units (“RSUs") granted under the Restricted and Performance Share Unit Plan (“RPSU plan”), restricted awards granted under the Non-Treasury Incentive Award Plan (“NTIP”), deferred share units granted under the Deferred Share Unit Plan (“DSU plan”) and performance share units (“PSUs”) granted under the RPSU plan.
Share-based compensation expense consisted of the following:
| (millions) · 2024 · 2023 | |||
|---|---|---|---|
| DSUs | $(0.6) | $0.5 | |
| PSUs | (0.5) | 6.3 | |
| NTIP | 1.1 | 1.4 | |
| Liability based incentive plans | $ | - | $8.2 |
| RSUs | $6.1 | $6.7 | |
| Options | 2.1 | 1.3 | |
| Equity based incentive plans | 8.2 | 8.0 | |
| Share-based compensation | $8.2 | $16.2 | |
At December 31, 2024, the Company’s share price closed at $8.36 per share which was lower than the $8.99 per share on December 31, 2023. As the share price was lower, this resulted in a reduction in our share-based compensation in 2024 compared to 2023. The change in share price at the balance sheet date results in a mark-to-market valuation which is used to calculate the DSU, PSU and NTIP future obligations.
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