Long-Term Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2015

Long-Term Incentive Plan

Schedule of compensation expense and forfeitures related to restricted shares and performance awards

The Company’s compensation expense and forfeitures related to restricted shares and performance awards for the years ended December 31, 2015, 2014 and 2013 were as follows (in thousands):

	2015		2014		2013
Compensation expense, including forfeitures	$	9,695	$	9,063	$	7,189

Summary of total compensation expense in relation to vesting of restricted common stock

The Company’s total compensation expense in relation to its vesting of restricted common stock presented in the Company’s consolidated statements of equity for the years ended December 31, 2015, 2014 and 2013 is as follows (in thousands):

	2015		2014		2013
Compensation expense, including forfeitures	$	9,695	$	9,063	$	7,189
Net-settle adjustment		(7,428)		(2,842)		(2,331)
Amortization related to shares issued to design and construction employees		580		474		393
Vesting of restricted stock presented on statement of equity	$	2,847	$	6,695	$	5,251

Schedule of non-vested stock grant activity

The following is a summary of non-vested stock grant activity:

	2015			2014			2013
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Price		Shares	Price		Shares	Price
Outstanding at beginning of year	1,883,296	$	11.24	2,009,412	$	10.23	1,539,992	$	9.11
Granted	499,787	$	17.33	691,182	$	13.48	975,711	$	11.82
Vested	(1,225,443)	$	10.75	(799,845)	$	10.61	(497,199)	$	9.89
Forfeited	(171,295)	$	14.76	(17,453)	$	11.90	(9,092)	$	10.89
Outstanding at end of year	986,345	$	14.33	1,883,296	$	11.24	2,009,412	$	10.23