XML 50 R38.htm IDEA: XBRL DOCUMENT

Share-Based Payments (Tables)

6 Months Ended

Jun. 30, 2020

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

Summary of Share-Based Compensation Expense


		Three Months Ended June 30,						Six Months Ended June 30,
		2020			2019			2020			2019

		(In thousands)
Time-Based LTIP Units		$	4,288		$	2,840		$	7,639		$	5,774
Performance-Based LTIP Units			6,219			1,980			10,208			4,188
LTIP Units			1,100			1,000			1,100			1,000
Other equity awards ⁽¹⁾			1,590			981			3,139			2,040
Share-based compensation expense - other			13,197			6,801			22,086			13,002
Formation Awards			1,339			1,229			2,598			2,889
OP Units ⁽²⁾			5,977			6,813			12,618			14,744
LTIP Units ⁽²⁾			103			115			215			223
Special Performance-Based LTIP Units ⁽³⁾			687			640			1,358			1,284
Special Time-Based LTIP Units ⁽³⁾			752			726			1,510			1,514
Share-based compensation related to Formation Transaction and special equity awards ⁽⁴⁾			8,858			9,523			18,299			20,654
Total share-based compensation expense			22,055			16,324			40,385			33,656
Less amount capitalized			(1,243)			(799)			(2,211)			(1,542)
Share-based compensation expense		$	20,812		$	15,525		$	38,174		$	32,114

(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 ESPP.

(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% to 29.0%
Risk-free interest rate		0.3% to 1.5%
Post-grant restriction periods		2 to 3 years

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%

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

Summary of of the significant assumptions of awards


Expected volatility		13.0%
Dividend yield		1.1%
Risk-free interest rate		1.7%

Expected life

6 months