Northern Oil and Gas, Inc. Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2019

The key assumptions used in valuing these market-based awards were as follows:


	2019
Risk-free interest rate	2.57		%
Dividend yield	—		%
Expected volatility	85.00		%
Company's closing stock price on grant date	$	2.71

The following table reflects the outstanding RSAs and activity related thereto for the three months ended March 31, 2019:


	Service-based Awards				Service and Performance-based Awards					Service and Market-based Awards			Service, Performance, and Market-based Awards
	Number of Shares	Weighted-average Grant Date Fair Value		Number of Shares	Weighted-average Grant Date Fair Value		Number of Shares	Weighted-average Grant Date Fair Value		Number of Shares	Weighted-average Grant Date Fair Value
Outstanding at December 31, 2018	632,759	$	2.72	1,018,500	$	2.70	1,176,600	$	1.67	—	$	—
Shares granted	847,200	2.71		—	—		1,249,500	1.82		1,063,500	0.98
Shares forfeited	(4,802)	3.07		—	—		—	—		—	—
Shares vested	(270,353)	2.97		(339,500)	2.70		(164,206)	1.67		—	—
Outstanding at March 31, 2019	1,204,804	$	2.66	679,000	$	2.70	2,261,894	$	1.75	1,063,500	$	0.98

The following has been recorded to stock-based compensation expense for the periods presented:


	Three months ended March 31,
(in thousands)	2019		2018
Restricted stock award compensation	$	2,835	$	(832)
Less amounts capitalized in oil and natural gas properties	(84)		(54)
Total stock-based compensation, net	$	2,751	$	(886)