Share-Based Payments (Tables)

9 Months Ended

Sep. 30, 2020

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

Summary of Share-Based Compensation Expense

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Time-Based LTIP Units	$	3,364	$	2,755	$	11,003	$	8,529
Performance-Based LTIP Units		3,999		2,016		14,207		6,205
LTIP Units		—		—		1,100		1,000
Other equity awards (1)		1,690		1,403		4,829		3,443
Share-based compensation expense - other		9,053		6,174		31,139		19,177
Formation Awards		875		1,227		3,473		4,116
OP Units (2)		4,780		6,747		17,398		21,491
LTIP Units (2)		95		117		310		340
Special Performance-Based LTIP Units (3)		657		654		2,015		1,938
Special Time-Based LTIP Units (3)		726		804		2,236		2,318
Share-based compensation related to Formation Transaction and special equity awards (4)		7,133		9,549		25,432		30,203
Total share-based compensation expense		16,186		15,723		56,571		49,380
Less amount capitalized		(1,177)		(406)		(3,388)		(1,948)
Share-based compensation expense	$	15,009	$	15,317	$	53,183	$	47,432

(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 issued in the Formation Transaction, which are 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 Units 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%

ESPP

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