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Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2023
Incentive Plans  
Market Performance Based Awards

Market

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 September 30, 

    

September 30, 

December 31, 

 

compensation

Type of incentive award

    

2023

    

2022

    

2023

    

2022

    

2023

    

2022

    

(in years)

Long-term incentive units

$

3.7

$

5.1

$

0.1

$

$

21.1

$

20.7

 

2.3

Performance-based awards

 

3.1

 

5.5

 

0.1

 

0.2

 

25.0

 

30.3

 

2.3

Service-based restricted stock units

 

8.2

 

6.7

 

1.8

 

0.9

 

74.2

 

55.4

 

2.7

Interxion awards

0.3

1.6

0.2

1.9

0.3

Nine Months Ended September 30, 

    

    

2023

    

2022

    

2023

    

2022

    

Long-term incentive units

$

10.1

$

16.7

$

0.1

$

0.1

Performance-based awards

 

8.6

 

16.1

 

0.2

 

0.4

Service-based restricted stock units

24.1

18.9

4.4

3.7

Interxion awards

 

1.6

 

3.7

 

0.1

 

Summary of Long-Term Incentive Unit Activity

    

    

Weighted-Average

 

Grant Date Fair

Unvested LTIP Units

Units

 

Value

Unvested, beginning of period

 

279,258

$

146.37

Granted

 

179,979

 

104.78

Vested

 

(163,717)

 

135.79

Cancelled or expired

 

(39,332)

 

136.30

Unvested, end of period

 

256,188

$

125.46

Summary of Restricted Stock Activity

Weighted-Average

 

Grant Date Fair

Unvested Restricted Stock Units

    

Shares

    

Value

Unvested, beginning of period

 

507,837

$

131.57

Granted

 

546,128

 

115.76

Vested

 

(295,575)

 

117.77

Cancelled or expired

 

(67,800)

 

117.32

Unvested, end of period

 

690,590

$

126.38