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Share-Based Payments (Tables)
9 Months Ended
Sep. 30, 2022
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, 

    

2022

    

2021

X

2022

    

2021

 

(In thousands)

Time-Based LTIP Units

$

3,496

$

3,999

$

15,824

$

12,494

AO LTIP Units and Performance-Based LTIP Units

 

2,167

 

3,216

 

9,914

 

9,615

LTIP Units

 

 

 

1,000

 

1,091

Other equity awards (1)

 

1,413

 

1,473

 

4,239

 

4,395

Share-based compensation expense - other

 

7,076

 

8,688

 

30,977

 

27,595

Formation Awards

 

281

 

476

 

1,424

 

1,923

OP Units and LTIP Units (2)

 

(423)

 

1,676

 

408

 

6,725

Special Time-Based LTIP Units and Special Performance-Based LTIP Units (3)

 

690

 

1,328

 

2,537

 

4,218

Share-based compensation related to Formation Transaction and special equity awards (4)

 

548

 

3,480

 

4,369

 

12,866

Total share-based compensation expense

 

7,624

 

12,168

 

35,346

 

40,461

Less: amount capitalized

 

(675)

 

(740)

 

(3,022)

 

(2,141)

Share-based compensation expense

$

6,949

$

11,428

$

32,324

$

38,320

(1)Primarily comprising compensation expense for: (i) fully vested LTIP Units issued to certain employees in lieu of all or a portion of any cash bonuses earned, (ii) restricted share units ("RSUs") and (iii) shares issued under our ESPP.
(2)Includes share-based compensation expense for LTIP Units and OP Units issued in the Formation Transaction, which fully vested in July 2022.
(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

   

30.0% to 41.0%

Risk-free interest rate

 

0.4% to 2.9%

Post-grant restriction periods

 

2 to 6 years

ESPP  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of of the significant assumptions of awards

Expected volatility

   

23.0%

Dividend yield

 

1.6%

Risk-free interest rate

 

0.2%

Expected life

6 months

AO LTIP Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of of the significant assumptions of awards

Expected volatility

   

27.0%

Dividend yield

 

2.7%

Risk-free interest rate

 

1.6%