Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2022

Class Of Stock [Line Items]

Summary of Restricted Stock Units

The following table includes the number of restricted stock units granted, vested, forfeited and outstanding as of March 31, 2022:

	2022
	Number of Units				Weighted Average Grant Date Fair Value
Outstanding January 1,		589,283			$	39.17
Granted		142,159				83.88
Vested		(180,497	)	(1)		35.87
Outstanding March 31,		550,945			$	51.79

(1) Certain key employees of the Adviser elected to net the taxes owed upon vesting against the shares issued resulting in 147,532 shares being issued as shown on the Consolidated Statement of Stockholders’ Equity.

Summary Information of 2020 ATM Program

The following table contains summary information of the 2020 ATM Program since its inception:

Gross proceeds	$	62,310,967
Common shares issued		1,120,910
Gross average sale price per share	$	55.59
Sales commissions	$	934,665
Offering costs		1,184,340
Net proceeds		60,191,962
Average price per share, net	$	53.70

2016 LTIP

Class Of Stock [Line Items]

Summary of Vesting of Restricted Stock Units

The following table contains information regarding the vesting of restricted stock units under the 2016 LTIP for the next five calendar years subsequent to March 31, 2022:

	Shares Vesting
	February			May		Total
2022		—	(1)		22,022		22,022
2023		139,095			22,019		161,114
2024		132,699			22,017		154,716
2025		97,811			22,017		119,828
2026		66,114			—		66,114
2027		27,151			—		27,151
Total		462,870			88,075		550,945

(1) Shares vested prior to March 31, 2022.