Share-Based Payments (Tables)

3 Months Ended

Mar. 31, 2021

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

Summary of share-based compensation expense

	Three Months Ended March 31,
	2021		2020
	(In thousands)
Time-Based LTIP Units	$	4,380	$	3,351
Performance-Based LTIP Units		3,239		3,989
Other equity awards (1)		1,463		1,549
Share-based compensation expense - other		9,082		8,889
Formation Awards		729		1,259
OP Units (2)		2,706		6,641
LTIP Units (2)		78		112
Special Performance-Based LTIP Units (3)		684		671
Special Time-Based LTIP Units (3)		748		758
Share-based compensation related to Formation Transaction and special equity awards (4)		4,945		9,441
Total share-based compensation expense		14,027		18,330
Less amount capitalized		(791)		(968)
Share-based compensation expense	$	13,236	$	17,362

(1) Primarily comprising compensation expense for: (i) certain employees who have elected to receive all or a portion of any cash bonus earned in the form of fully vested LTIP Units, (ii) RSUs and (iii) 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.

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	39.0%
Risk-free interest rate	0.1%
Post-grant restriction periods	2 years

Performance-Based LTIP Units

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

Summary of of the significant assumptions of awards

Expected volatility	34.0%
Dividend yield	2.6%
Risk-free interest rate	0.2%