v3.25.3
Equity Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Time Based Awards  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Un-Vested Share Activity

The following table summarizes the activity related to our time based awards:

 

 

Restricted Stock

 

 

LTIP Units

 

Time Based Award Grants

 

Shares

 

 

Weighted-Average
Grant-Date
Fair Value

 

 

Units

 

 

Weighted-Average
Grant-Date
Fair Value

 

Unvested at December 31, 2023

 

 

21,329

 

 

$

53.77

 

 

 

95,071

 

 

$

50.75

 

Granted

 

 

11,476

 

 

 

57.18

 

 

 

78,991

 

 

 

54.12

 

Vested

 

 

(11,830

)

 

 

51.15

 

 

 

(65,624

)

 

 

50.11

 

Forfeited

 

 

(1,313

)

 

 

57.12

 

 

 

(3,954

)

 

 

51.45

 

Unvested at December 31, 2024

 

 

19,662

 

 

 

57.12

 

 

 

104,484

 

 

 

53.68

 

Granted

 

 

350,368

 

 

 

30.18

 

 

 

365,195

 

 

 

33.83

 

Vested (1)

 

 

(10,672

)

 

 

57.05

 

 

 

(16,841

)

 

 

36.82

 

Forfeited

 

 

(16,015

)

 

 

30.89

 

 

 

—

 

 

 

—

 

Unvested at September 30, 2025

 

 

343,343

 

 

$

30.85

 

 

 

452,838

 

 

$

38.29

 

 

(1) Such amount included 12,412 LTIP units related to the accelerated vesting of a former member of the board of directors upon their retirement, effective June 30, 2025.

Performance Based Awards  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Un-Vested Share Activity

The following table summarizes our activity related to our performance based awards:

 

 

 

LTIP Units

 

Performance Based Award Grants

 

Units

 

 

Weighted-Average
Grant-Date
Fair Value

 

Unvested at December 31, 2023

 

 

133,254

 

 

$

48.64

 

Granted

 

 

67,524

 

 

 

54.20

 

Vested

 

 

(37,097

)

 

 

37.20

 

Forfeited

 

 

(4,040

)

 

 

53.45

 

Unvested at December 31, 2024

 

 

159,641

 

 

 

53.53

 

Granted

 

 

68,634

 

 

 

52.12

 

Vested (1)

 

 

(13,633

)

 

 

52.72

 

Forfeited

 

 

(13,633

)

 

 

52.72

 

Unvested at September 30, 2025

 

 

201,009

 

 

$

53.16

 

(1) In March of 2025, the Compensation Committee of the board of directors approved the vesting of the 2022 performance grant at 100% of the targeted award.