Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Summary of Restricted Stock Under the Plan

Information with respect to restricted stock under the Plan for the six months ended June 30, 2024 and 2023 is as follows:

	Six Months Ended June 30,
	2024			2023
Restricted stock outstanding as of January 1,		2,746,116			2,605,970
Granted (1)		872,150			893,880
Vested		(693,282	)		(714,202	)
Forfeited		(20,710	)		(3,494	)
Restricted stock outstanding as of June 30,		2,904,274			2,782,154

(1)The weighted-average grant date fair value for restricted stock issued during the six months ended June 30, 2024 and 2023 was $19.47 and $21.30, respectively.

Summary of Performance Share Awards Under the Plan

Information with respect to performance share awards under the Plan for the six months ended June 30, 2024 and 2023 is as follows:

	Six Months Ended June 30,
	2024			2023
Performance share awards outstanding as of January 1,		989,860			1,004,040
Granted (1)		377,690			531,200
Vested (2)		(458,660	)		(545,380	)
Performance share awards outstanding as of June 30,		908,890			989,860

(1)The weighted-average grant date fair value for performance shares issued during the six months ended June 30, 2024 and 2023 was $18.14 and $42.61, respectively.

(2)For the six months ended June 30, 2024 and 2023, the corresponding common stock equivalent of these vested awards was 970,232 and 998,238 shares, respectively.

Aggregate Grant-date Fair Value of Performance-based LTIP Units Valued Using Monte Carlo Simulations Based on Significant Assumptions

The aggregate grant-date fair value of the Performance-Based LTIP Units for the six months ended June 30, 2024 was $3.7 million, valued using Monte Carlo simulations based on the following significant assumptions:

	Six Months Ended June 30, 2024
Expected volatility		28.9	%
Dividend yield		-
Risk-free interest rate		4.4	%