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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Units Activity
The following table summarizes restricted stock unit grants under the 2017 Plan during the three months ended March 31, 2022 and 2021, respectively:
Three Months Ended March 31,Grantee TypeNumber of
Restricted Stock
Units Granted		Vesting
Period		Grant Date
Fair Value
(in thousands)
2022Associates481,099
1-3 years
$12,857 
2021Associates296,610
1-3 years
$9,885 
R
The following table provides a summary of restricted stock awards activity during the three months ended March 31, 2022:
Three Months Ended March 31, 2022
Restricted StockNumber of Time-Based Restricted Stock UnitsAggregate Intrinsic Value (in millions)Number of Performance-Based Restricted Stock UnitsAggregate Intrinsic Value (in millions)
Number of Market Performance-Based Restricted Stock Units(2)
Aggregate Intrinsic Value (in millions)
Non-vested as of December 31, 2021
1,071,959 $35.1 — $— 374,048 $12.3 
Granted
350,641 — 130,458 
 Market-performance adjustment(3)
— — (18,253)
Vested
(171,176)— (194,111)
Forfeited
(45,597)— (8,044)
Non-vested as of March 31, 2022
1,205,827 $33.6 — $— 284,098 $7.9 
Shares vested, but not released(1)
615,643 17.2 42,856 1.2 — — 
Total outstanding restricted stock units
1,821,470 $50.8 42,856 $1.2 284,098 $7.9 
(1)For certain vested restricted stock units, common share issuance is contingent upon the first to occur of: (1) termination of service; (2) change in control; (3) death; or (4) disability, as defined in the 2010 Plan. This is comprised of 568,753 vested time-based restricted stock units which belong to a member of the Board of Trustees who has resigned and common shares shall not be issued until the first to occur: (1) change in control; or (2) April 13, 2022. The weighted average grant date fair value of these units is $9.38 per unit. This is also comprised of 46,890 vested time-based restricted stock units which belong to an active member of the Board of Trustees and the date of issuance is therefore unknown at this time. The weighted average grant date fair value of these units is $8.42 per unit. Finally, this is comprised of 42,856 vested performance-based restricted stock units which belong to the former CEO and common shares shall not be issued until May 2, 2022 in accordance with the terms of the award. The weighted average grant date fair value of these units is $13.43 per unit. The holders of these vested restricted stock units are entitled to receive distributions, but are not entitled to vote the shares until common shares are issued.in exchange for these vested restricted stock units.
(2)The number of market performance-based restricted stock units are reflected within this table based upon the number of shares issuable upon achievement of the performance metric at target.
(3)Represents the decrease in the number of original market-performance units awarded based on the final performance criteria achievement at the end of the defined performance period.
Schedule of OP Units Activity
The following table summarizes OP unit grants during the three months ended March 31, 2022 and March 31, 2021:
Three Months Ended March 31,Grantee TypeNumber of
OP Units Granted		Vesting
Period		Grant Date
Fair Value
(in thousands)
2022Associates342,980
1-3 years
$9,001 
2021Associates258,479
1-3 years
$8,434 
OP units granted for the year ended March 31, 2022 consisted of: (i) 98,994 time-based graded vesting OP units with various vesting periods ranging from one to three years issued to certain associates in connection with the annual grant provided in March and (ii) 243,986 market performance-based cliff vesting OP units with a three-year vesting period issued to certain associates in connection with the annual grant provided in March.
OP units granted for the year ended March 31, 2021 consisted of: (i) 60,472 time-based graded vesting OP units with various vesting periods ranging from one to three years issued to certain associates and (ii) 198,007 market performance-based cliff vesting OP units with a three-year vesting period issued to certain associates.
The following table provides a summary of the OP unit awards activity during the three months ended March 31, 2022:
Three Months Ended March 31, 2022
OP UnitsNumber of Time-Based OP UnitsAggregate Intrinsic Value (in millions)Number of Market Performance-Based OP UnitsAggregate Intrinsic Value (in millions)
Non-vested as of December 31, 2021
140,222 $4.6 288,165 $9.4 
Granted
98,994 243,986 
Vested
(28,179)— 
Forfeited
(7,635)(20,366)
Non-vested as of March 31, 2022
203,402 $5.7 511,785 $14.3 
Shares vested, but not released
104,874 2.9 — — 
Total outstanding OP units
308,276 $8.6 511,785 $14.3 
Schedule of Stock Option Activity
The following table provides a summary of option activity for the three months ended March 31, 2022:
OptionsShares
(In thousands)		Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Terms (Years)
Outstanding as of December 31, 2021
206,298 $9.81 2.9
Granted
— — 
Exercised
(40,900)9.81 
Forfeited or expired
— — 
Outstanding as of March 31, 2022
165,398 9.81 3.1
Exercisable as of March 31, 2022
165,398 $9.81 3.1