5.	Share-Based Compensation

The table below presents the share-based compensation expense included in Devon’s accompanying consolidated comprehensive statements of earnings.

	Three Months Ended March 31,
	2018		2017
G&A	$	37	$	34
Exploration expenses		2		2
Total Devon		39		36
G&A		3		14
Marketing and midstream expenses		2		5
Total EnLink		5		19
Total	$	44	$	55
Related income tax benefit	$	1	$	1

Under its approved long-term incentive plan, Devon granted share-based awards to certain employees in the first three months of 2018. The following table presents a summary of Devon’s unvested restricted stock awards and units, performance-based restricted stock awards and performance share units granted under the plan.

	Restricted Stock					Performance-Based					Performance
	Awards and Units					Restricted Stock Awards					Share Units
	Awards and Units			Weighted Average Grant-Date Fair Value		Awards			Weighted Average Grant-Date Fair Value		Units					Weighted Average Grant-Date Fair Value
	(Thousands, except fair value data)
Unvested at 12/31/17		6,328		$	36.81		575		$	38.92		2,758				$	41.21
Granted		3,425		$	35.77		—		$	—		845				$	37.40
Vested		(2,286	)	$	38.82		(227	)	$	43.14		(571	)			$	84.22
Forfeited		(85	)	$	35.13		—		$	—		(3	)			$	27.12
Unvested at 3/31/18		7,382		$	35.72		348		$	36.17		3,029		⁽¹	⁾	$	30.35

(1)	A maximum of 6.1 million common shares could be awarded based upon Devon’s final TSR ranking relative to Devon’s peer group established under applicable award agreements.

The following table presents the assumptions related to the performance share units granted in 2018, as indicated in the previous summary table.

	2018
Grant-date fair value		$36.23	—	$	37.88
Risk-free interest rate	2.28%
Volatility factor	45.8%
Contractual term (years)	2.89

The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with unvested awards and units as of March 31, 2018.

			Performance-Based
	Restricted Stock		Restricted Stock		Performance
	Awards and Units		Awards		Share Units
Unrecognized compensation cost	$	213	$	3	$	53
Weighted average period for recognition (years)		2.9		1.5		2.2

EnLink Share-Based Awards

The General Partner and EnLink issue restricted incentive units as bonus payments to officers and certain employees in the first quarter each year for the prior year’s performance. For the first quarter of 2018 and the first quarter of 2017, the combined grant date fair value for these awards was $6 million and $10 million, respectively.

The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with the General Partner’s and EnLink’s unvested restricted incentive units and performance units as of March 31, 2018.

	General Partner				EnLink
	Restricted		Performance		Restricted		Performance
	Incentive Units		Units		Incentive Units		Units
Unrecognized compensation cost	$	19	$	8	$	20	$	8
Weighted average period for recognition (years)		2.1		2.3		2.2		2.3