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Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2022
Incentive Plans  
Market Performance Based Awards

Market

2021-2022

Performance

RMS Relative

Vesting

Level

Market Performance

Percentage

Below Threshold Level

≤ -500 basis points

0

%

Threshold Level

-500 basis points

25

%

Target Level

0 basis points

50

%

High Level

≥ 500 basis points

100

%

Schedule of compensation expense and unearned compensation

Below is a summary of our compensation expense and our unearned compensation (in millions):

Expected

 

 

 

period to

Deferred Compensation

 

Unearned Compensation

 

recognize

Expensed

Capitalized

As of

As of

 

unearned

    

Three Months Ended June 30, 

June 30, 

December 31, 

 

compensation

Type of incentive award

    

2022

    

2021

    

2022

    

2021

    

2022

    

2021

    

(in years)

Long-term incentive units

$

6.4

$

2.8

$

0.0

$

$

33.9

$

19.8

 

2.3

Performance-based awards

 

5.6

 

6.4

 

0.1

 

0.1

 

46.9

 

39.2

 

2.3

Service-based restricted stock units

 

6.8

 

5.3

 

1.4

 

0.9

 

68.8

 

44.5

 

2.8

Interxion awards

1.1

4.1

4.6

8.5

1.1

 

Six Months Ended June 30, 

    

2022

    

2021

    

2022

    

2021

    

Long-term incentive units

$

11.6

$

6.0

$

0.1

$

0.1

Performance-based awards

 

10.6

 

14.9

 

0.3

 

0.5

Service-based restricted stock units

12.1

9.2

2.4

1.6

Interxion awards

 

2.0

 

14.6

 

 

Summary of Long-Term Incentive Unit Activity

    

    

Weighted-Average

 

Grant Date Fair

Unvested LTIP Units

Units

 

Value

Unvested, beginning of period

 

250,468

$

132.66

Granted

 

167,326

 

154.09

Vested

 

(127,117)

 

130.32

Cancelled or expired

 

 

Unvested, end of period

 

290,677

$

146.02

Summary of Restricted Stock Activity

Weighted-Average

 

Grant Date Fair

Unvested Restricted Stock Units

    

Shares

    

Value

Unvested, beginning of period

 

509,369

$

129.52

Granted

 

312,244

 

138.35

Vested

 

(169,630)

 

124.32

Cancelled or expired

 

(44,828)

 

133.37

Unvested, end of period

 

607,155

$

135.23