SHARE BASED PAYMENTS

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

SHARE BASED PAYMENTS

SHARE BASED PAYMENTS

Our shareholders approved the Hersha Hospitality Trust 2012 Equity Incentive Plan, as amended, for the purpose of attracting and retaining executive officers, employees, trustees and other persons and entities that provide services to the Company.

A summary of our share based compensation activity from January 1, 2022 to March 31, 2022 is as follows:

	LTIP Unit Awards			Restricted Share Awards			Share Awards
	Number of Units	Weighted Average Grant Date Fair Value		Number of Restricted Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
Unvested Balance as of December 31, 2021	1,658,995	$	10.73	170,740	$	10.52	—
Granted	—	N/A		—	N/A		29,868	9.60
Vested	—	N/A		(49,153)	11.37		(29,868)	9.60
Unvested Balance as of March 31, 2022	1,658,995	$	10.73	121,587	$	10.17	—

The following table summarizes share based compensation expense for the three months ended March 31, 2022 and 2021 and unearned compensation as of March 31, 2022 and December 31, 2021:

	Share Based Compensation Expense				Unearned Compensation
	For the Three Months Ended				As of
	March 31, 2022		March 31, 2021		March 31, 2022		December 31, 2021
Issued Awards
LTIP Unit Awards	$	1,777	$	1,724	$	9,567	$	11,344
Restricted Share Awards	192		168		642		834
Share Awards	287		—		—		—
Unissued Awards
Market Based	285		277		1,944		2,230
Total	$	2,541	$	2,169	$	12,153	$	14,408

The weighted-average period of which the unrecognized compensation expense will be recorded is approximately 1.6 years for LTIP Unit Awards and 1.1 years for Restricted Share Awards.

The remaining unvested target units are expected to vest as follows:

	2021	2022	2023
LTIP Unit Awards	616,047	1,042,948	—
Restricted Share Awards	66,172	52,415	3,000
	682,219	1,095,363	3,000