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Stock Based Compensation (Tables)
6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Nonvested Share Activity
A rollforward of Piedmont's equity based award activity for the six months ended June 30, 2020 is as follows:

SharesWeighted-Average Grant Date Fair Value
Unvested and Potential Stock Awards as of December 31, 2019
1,045,020  $25.15  
Deferred Stock Awards Granted
242,586  $22.39  
Increase in Estimated Potential Share Award based on TSR Performance
332,690  $25.83  
Performance Stock Awards Vested
(153,368) $30.45  
Deferred Stock Awards Vested
(218,972) $21.05  
Deferred Stock Awards Forfeited
(6,516) $21.68  
Unvested and Potential Stock Awards as of June 30, 20201,241,440  $24.88  


The following table provides additional information regarding stock award activity during the three and six months ended June 30, 2020 and 2019, respectively (in thousands, except per share amounts):

Three Months EndedSix Months Ended
June 30,
2020
June 30,
2019
June 30,
2020
June 30,
2019
Weighted-Average Grant Date Fair Value per share of Deferred Stock Granted During the Period
$13.76  $21.02  $22.39  $21.02  
Total Grant Date Fair Value of Deferred Stock Vested During the Period
$3,392  $8,318  $4,608  $8,658  
Share-based Liability Awards Paid During the Period (1)
$—  $—  $4,116  $3,239  

(1)Amounts reflect the issuance of performance share awards related to the 2017-19 and 2016-18 Performance Share Plans during the six months ended June 30, 2020 and 2019, respectively.
Schedule of Outstanding Employee Stock Awards
A detail of Piedmont’s outstanding stock awards as of June 30, 2020 is as follows:

Date of grantType of Award
Net Shares
Granted (1)
Grant
Date Fair
Value
Vesting ScheduleUnvested Shares
May 17, 2018Deferred Stock Award250,680  $17.84  Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 17, 2019, 2020, and 2021, respectively.52,895  
May 17, 2018Fiscal Year 2018-2020 Performance Share Program—  $23.52  Shares awarded, if any, will vest immediately upon determination of award in 2021.200,674  
(2)
May 3, 2019Deferred Stock Award280,997  $21.04  Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 3, 2020, 2021, and 2022, respectively.143,774  
May 3, 2019Fiscal Year 2019-2021 Performance Share Program—  $29.43  Shares awarded, if any, will vest immediately upon determination of award in 2022.321,286  
(2)
February 19, 2020Deferred Stock Award178,309  $24.41  Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on February 19, 2021, 2022, and 2023, respectively.144,341  
March 19, 2020Fiscal Year 2020-2022 Performance Share Program—  $25.83  Shares awarded, if any, will vest immediately upon determination of award in 2023.332,690  
(2)
May 13, 2020Deferred Stock Award-Board of Directors45,780  $13.76  Of the shares granted, 100% will vest by May 13, 2021.45,780  
Total1,241,440  

(1)Amounts reflect the total original grant to employees and independent directors, net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations through June 30, 2020.
(2)Estimated based on Piedmont's cumulative TSR for the respective performance period through June 30, 2020. Share estimates are subject to change in future periods based upon Piedmont's relative performance compared to its peer group of office REITs' TSR.