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Incentive Plans (Tables)
3 Months Ended
Mar. 31, 2024
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 March 31, 

    

March 31, 

December 31, 

 

compensation

Type of incentive award

    

2024

    

2023

    

2024

    

2023

    

2024

    

2023

    

(in years)

Long-term incentive units

$

3.7

$

2.8

$

$

$

31.8

$

16.6

 

2.8

Performance-based awards

 

2.2

 

4.1

 

 

0.1

 

34.6

 

19.9

 

2.9

Service-based restricted stock units

 

7.6

 

7.7

 

1.5

 

1.1

 

100.6

 

66.4

 

3.0

Interxion awards

0.7

Summary of Long-Term Incentive Unit Activity

    

    

Weighted-Average

 

Grant Date Fair

Unvested LTIP Units

Units

 

Value

Unvested, beginning of period

 

238,360

$

121.99

Granted

 

252,009

 

137.00

Vested

 

(161,612)

 

132.68

Cancelled or expired

 

(49,997)

 

243.00

Unvested, end of period

 

278,760

$

107.66

Summary of Restricted Stock Activity

Weighted-Average

 

Grant Date Fair

Unvested Restricted Stock Units

    

Shares

    

Value

Unvested, beginning of period

 

621,863

$

132.07

Granted

 

349,756

 

141.76

Vested

 

(57,208)

 

121.49

Cancelled or expired

 

(58,599)

 

122.58

Unvested, end of period

 

855,812

$

137.39