Share-Based Payments (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expense

	Three Months Ended March 31,
	2020		2019
	(In thousands)
Time-Based LTIP Units	$	3,351	$	2,934
Performance-Based LTIP Units		3,989		2,208
Other equity awards (1)		1,549		1,059
Share-based compensation expense - other		8,889		6,201
Formation Awards		1,259		1,660
OP Units (2)		6,641		7,931
LTIP Units (2)		112		108
Special Performance-Based LTIP Units (3)		671		644
Special Time-Based LTIP Units (3)		758		788
Share-based compensation related to Formation Transaction and special equity awards (4)		9,441		11,131
Total share-based compensation expense		18,330		17,332
Less amount capitalized		(968)		(743)
Share-based compensation expense	$	17,362	$	16,589

(1) Primarily comprising compensation expense for certain executives who have elected to receive all or a portion of any cash bonus that may be paid in the subsequent year related to past service in the form of fully vested LTIP Units and related to our employee share purchase plan.

(2) Represents share-based compensation expense for LTIP Units and OP Units subject to post-Combination employment obligations.

(3) Represents equity awards issued related to our successful pursuit of Amazon's additional headquarters in National Landing.

(4) Included in "General and administrative expense: Share-based compensation related to Formation Transaction and special equity awards" in the accompanying statements of operations.

LTIP and Time-Based LTIP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of of the significant assumptions of awards

Expected volatility	18.0	%
Risk-free interest rate	1.5	%
Post-grant restriction periods	2 years

In April 2020, as part of their annual compensation, we granted a total of 54,607 fully vested LTIP Units to certain of our trustees with an aggregate grant-date fair value of $1.5 million.

Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of of the significant assumptions of awards

Expected volatility	15.0	%
Dividend yield	2.3	%
Risk-free interest rate	1.3	%