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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity summarizes the option activity under the Plan as of December 31, 2021 and changes during the year then ended:
($ in thousands, except share and per share data)OptionsWeighted Average
Exercise Price
Aggregate
Intrinsic Value
Weighted Average Remaining
Contractual Term (in years)
Outstanding at January 1, 202121,567 $20.67 
Granted— — 
Exercised(1,250)15.56 
Expired(19,067)21.04 
Forfeited— — 
Outstanding at December 31, 20211,250 $20.20 $0.33
Exercisable at December 31, 20211,250 $20.20 $0.33
Exercisable at December 31, 202021,567 $20.67 
During the years ended December 31, 2019, 2020 and 2021, in connection with its annual review of executive compensation and as described in the table below, the Compensation Committee approved an aggregate grant of AO LTIP Units to the Company’s executive officers under the Plan.
 Number of
AO LTIP Units
Participation Threshold
per AO LTIP Unit
Executive2019 Awards2020 Awards2021 Awards2019 Awards2020 Awards2021 Awards
John A. Kite 1,490,683 1,729,729 477,612 $15.79 $17.76 $16.69 
Thomas A. McGowan 372,671 405,405 149,254 $15.79 $17.76 $16.69 
Heath R. Fear 253,416 275,675 119,403 $15.79 $17.76 $16.69 
Schedule of Restricted Stock Activity
The following table summarizes the restricted share activity to employees and non-employee members of the Board of Trustees as of December 31, 2021 and changes during the year then ended:
 Number of
Restricted Shares
Weighted Average
Grant Date Fair
Value per share
Restricted shares outstanding at January 1, 2021321,591 $14.42 
Shares granted137,646 19.32 
Shares assumed in the Merger56,765 21.13 
Shares forfeited(5,226)17.47 
Shares vested(187,544)13.34 
Restricted shares outstanding at December 31, 2021323,232 $18.27 
The following table summarizes the restricted share grants and vestings during the years ended December 31, 2021, 2020, and 2019:
($ in thousands, except share and per share data)Number of Restricted Shares GrantedWeighted Average
Grant Date Fair
Value per share
Fair Value of Restricted Shares Vested
2021194,411 $19.85 $3,763 
2020211,476 $13.21 $2,727 
2019154,440 $15.84 $2,270 
The following table summarizes the activity for time-based restricted unit awards for the year ended December 31, 2021:
 Number of
Restricted Units
Weighted Average
Grant Date Fair
Value per unit
Restricted units outstanding at January 1, 2021491,196 $13.32 
Restricted units granted72,689 14.26 
Restricted units vested(149,444)14.00 
Restricted units outstanding at December 31, 2021414,441 $13.24 
The following table summarizes the time-based restricted unit grants and vestings during the years ended December 31, 2021, 2020, and 2019:
($ in thousands, except unit and per unit data)Number of Restricted Units GrantedWeighted Average
Grant Date Fair
Value per Unit
Fair Value of Restricted Units Vested
202172,689 $14.26 $2,956 
2020431,913 $13.10 $1,784 
201984,987 $14.11 $749