XML 54 R43.htm IDEA: XBRL DOCUMENT v3.26.1
Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Restricted Stock Under the Plans

Information with respect to restricted stock under the Plans for the six months ended June 30, 2026 and 2025 is as follows:

 

 

2026

 

 

2025

 

Restricted stock outstanding as of January 1,

 

 

2,503,102

 

 

 

2,745,884

 

Granted (1)

 

 

614,060

 

 

 

716,070

 

Vested

 

 

(845,174

)

 

 

(891,336

)

Forfeited

 

 

(27,050

)

 

 

(6,630

)

Restricted stock outstanding as of June 30,

 

 

2,244,938

 

 

 

2,563,988

 

 

(1)
The weighted-average grant date fair value for restricted stock issued during the six months ended June 30, 2026 and 2025 was $22.66 and $20.08, respectively.
Summary of Performance Share Awards Under the Plans

Information with respect to performance share awards under the Plans for the six months ended June 30, 2026 and 2025 is as follows:

 

 

2026

 

 

2025

 

Performance share awards outstanding as of January 1,

 

 

642,660

 

 

 

908,890

 

Granted (1)

 

 

206,570

 

 

 

264,970

 

Vested

 

 

-

 

 

 

-

 

Performance share awards outstanding as of June 30,

 

 

849,230

 

 

 

1,173,860

 

 

(1)
The weighted-average grant date fair value for performance shares issued during the six months ended June 30, 2026 and 2025 was $25.04 and $18.84, respectively.
Performance Shares [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Aggregate Grant-date Fair Value of Using Monte Carlo Simulations Based on Significant Assumptions

The significant assumptions underlying the determination of fair values using Monte Carlo simulations for the performance share awards granted with market conditions during the six months ended June 30, 2026 and 2025 were as follows:

 

2026

 

 

2025

 

Stock price

 

$

22.32

 

 

$

19.98

 

Dividend yield (1)

 

 

-

 

 

 

-

 

Risk-free interest rate

 

 

3.50

%

 

 

3.52

%

Volatility (2)

 

 

23.16

%

 

 

26.07

%

Term of the award (years)

 

 

2.86

 

 

 

2.67

 

 

(1)
Total Shareholder Returns, as used in the performance share awards computation, are measured based on cumulative dividend stock prices, as such a zero percent dividend yield is utilized.
(2)
Volatility is based on the annualized standard deviation of the daily logarithmic returns on dividend-adjusted closing prices over the look-back period based on the term of the award.
Performance Based LTIP Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Performance Share Awards Under the Plans

Information with respect to Performance-Based LTIP Units, including performance dividend equivalent units, under the Plans for the six months ended June 30, 2026 and 2025 is as follows:

 

 

2026

 

 

2025

 

Performance-Based LTIP unit awards outstanding as of January 1,

 

 

1,076,361

 

 

 

474,611

 

Granted (1)

 

 

480,140

 

 

 

601,750

 

Performance-Based LTIP unit awards outstanding as of June 30,

 

 

1,556,501

 

 

 

1,076,361

 

(1)
The weighted-average grant date fair value for Performance-Based LTIP Units issued, excluding performance dividend equivalent units, during the six months ended June 30, 2026 and 2025 was $20.07 and $9.42, respectively.
Summary of Aggregate Grant-date Fair Value of Using Monte Carlo Simulations Based on Significant Assumptions

The significant assumptions underlying the determination of fair values using Monte Carlo simulations for the Performance-Based LTIP Units granted with market conditions during the six months ended June 30, 2026 and 2025 were as follows:

 

 

2026

 

 

2025

 

Stock price

 

$

22.32

 

 

$

19.98

 

Dividend yield (1)

 

 

-

 

 

 

-

 

Risk-free interest rate

 

 

3.50

%

 

 

3.52

%

Volatility (2)

 

 

23.16

%

 

 

26.07

%

Term of the award (years)

 

 

2.86

 

 

 

2.67

 

 

(1)
Total Shareholder Returns, as used in the Performance-Based LTIP Unit computation, are measured based on cumulative dividend stock prices, as such a zero percent dividend yield is utilized.
(2)
Volatility is based on the annualized standard deviation of the daily logarithmic returns on dividend-adjusted closing prices over the look-back period based on the term of the award.
Time Based LTIP Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Performance Share Awards Under the Plans

Information with respect to Time-Based LTIP Unit awards with time-based vesting requirements under the Plans for the six months ended June 30, 2026 and 2025 is as follows:

 

 

2026

 

 

2025

 

Time-Based LTIP unit awards outstanding as of January 1,

 

 

442,708

 

 

 

120,700

 

Granted (1)

 

 

333,090

 

 

 

370,780

 

Vested

 

 

(100,730

)

 

 

(48,772

)

Time-Based LTIP unit awards outstanding as of June 30,

 

 

675,068

 

 

 

442,708

 

(1)
The weighted-average grant date fair value for Time-Based LTIP Units issued during the six months ended June 30, 2026 and 2025 was $22.66 and $20.08, respectively.