Share Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

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

Summary of Status of Unvested Restricted Shares and Changes

A summary of the status of our unvested restricted shares as of December 31, 2021 and changes during the years ended December 31, 2021 and 2020 are presented below:

	Shares			Weighted Average Grant Date Fair Value
January 1, 2020		938,264		$	8.67
Shares granted		1,706,624			3.22
Shares vested		(474,376	)		3.24
Shares forfeited		(93,791	)		4.96
December 31, 2020		2,076,721			5.60
Shares granted		—			—
Shares vested		(1,231,002	)		2.09
Shares forfeited		(24,342	)		4.16
December 31, 2021		821,377		$	10.90

Assumptions Used in Monte Carlo Simulations Used to Determine Aggregate Fair Values

The table also sets forth the assumptions used in the Monte Carlo simulations used to determine the aggregate fair values of the RSU awards in 2020 and 2019 by grant date:

(dollars in thousands, except per share data)	RSUs and assumptions by Grant Date
Grant Date:	February 24, 2020						January 29, 2019
Measurement Basis:	Core Mall Non-Anchor Occupancy			Fixed Charge Coverage Ratio			Absolute TSR RSUs			Relative TSR RSUs
RSUs granted		354,972			354,972			210,193			210,193
Aggregate fair value of shares granted	$	1,217		$	1,217		$	1,550		$	1,890
Weighted average fair value per share	$	3.43		$	3.43		$	7.38		$	8.99
Volatility		53.0	%		53.0	%		40.3	%		40.3	%
Risk free interest rate		1.35	%		1.35	%		2.58	%		2.58	%

Time Based Restricted Share Equity Awards

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

Summary of Future Compensation Expense

We will record future compensation expense in connection with the vesting of existing time based restricted share equity awards to employees as follows:

(in thousands of dollars) For the Year Ending December 31,	Employees
2022	$	1,282
2023		141
Total	$	1,423