Share-Based Payments (Tables)

9 Months Ended

Sep. 30, 2023

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,
	2023		2022		X	2023		2022
	(In thousands)
Time-Based LTIP Units	$	3,517	$	3,496		$	14,373	$	15,824
AO LTIP Units and Performance-Based LTIP Units		2,440		2,167			9,382		9,914
LTIP Units		—		—			1,000		1,000
Other equity awards (1)		912		1,413			3,710		4,239
Share-based compensation expense - other		6,869		7,076			28,465		30,977
Formation awards, OP Units and LTIP Units (2)		—		(142)			108		1,832
Special Time-Based LTIP Units and Special Performance-Based LTIP Units (3)		46		690			289		2,537
Share-based compensation related to Formation Transaction and special equity awards (4)		46		548			397		4,369
Total share-based compensation expense		6,915		7,624			28,862		35,346
Less: amount capitalized		(418)		(675)			(1,851)		(3,022)
Share-based compensation expense	$	6,497	$	6,949		$	27,011	$	32,324

(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) RSUs and (iii) shares issued under our ESPP.

(2) Includes share-based compensation expense for formation awards, 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 our 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	26.0% to 31.0%
Risk-free interest rate	3.4% to 4.9%
Post-grant restriction periods	2 to 6 years

AO 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%
Dividend yield	3.2%
Risk-free interest rate	4.1%

ESPP

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

Summary of of the significant assumptions of awards

Expected volatility	30.0%
Dividend yield	2.4%
Risk-free interest rate	4.7%
Expected life	6 months