XML 46 R31.htm IDEA: XBRL DOCUMENT v2.4.1.9
Partners' Capital, Equity and Incentive Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Partners' Capital, Equity and Incentive Compensation Plans [Abstract]  
Summary of Award Activity Under 2010 Equity Incentive Plan and 2013 Equity Incentive Plan and Related Information



The following is a summary of award activity under the 2010 Equity Incentive Plan and 2013 Equity Incentive Plan and related information for the years ended December 31, 2014, 2013 and 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2010 Equity Incentive Plan

 

2013 Equity Incentive Plan

 

Number of Class O units 

 

Weighted average exercise price 

 

Weighted average fair     value 

 

Number of Class RS units 

 

Weighted average price 

 

Options 

 

Weighted average exercise price 

 

Weighted average fair     value 

 

Restricted Stock 

 

Weighted average price 

Outstanding at January 1, 2012
699,368 

 
$
20.00 

 
$
4.38 

 
50,000 

 

$ —  

 

—  

 

$ —  

 

$ —  

 

—  

 

$ —  

Granted
908,925 

 
25.00 

 
$
1.99 

 
150,000 

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

Exercised

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

Released from restriction (1)

—  

 

—  

 

—  

 
(21,250)

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

Cancelled/Expired
(136,350)

 

—  

 
4.41 

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

Outstanding at December 31, 2012
1,471,943 

 
$
23.09 

 
$
2.84 

 
178,750 

 

$ —  

 

—  

 

$ —  

 

$ —  

 

—  

 

$ —  

Granted
224,244 

 
25.00 

 
10.62 

 

—  

 

—  

 
370,410 

 
21.00 

 
3.50 

 
108,629 

 
21.00 

Exercised

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

Released from restriction (1)

—  

 

—  

 

—  

 
(5,000)

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

Cancelled/Expired
(73,440)

 

—  

 
5.31 

 

—  

 

—  

 
(2,500)

 

—  

 
3.52 

 

—  

 

—  

Outstanding at December 31, 2013
1,622,747 

 
$
23.44 

 
$
3.84 

 
173,750 

 
$
21.86 

 
367,910 

 
$
21.00 

 
$
3.50 

 
108,629 

 
$
21.00 

Granted

—  

 

—  

 

—  

 

—  

 

—  

 
238,039 

 
25.59 

 
4.96 

 
172,102 

 
32.66 

Exercised (2)
(15,750)

 
20.71 

 
4.75 

 

—  

 

—  

 
(3,000)

 
21.00 

 
3.52 

 
(25,786)

 
21.00 

Released from restriction (1)

—  

 

—  

 

—  

 
(99,125)

 

—  

 

—  

 

—  

 

—  

 

—  

 

—  

Cancelled/Expired
(88,280)

 
26.70 

 
6.05 

 

—  

 

—  

 
(18,000)

 
21.00 

 
3.52 

 
(8,160)

 
21.00 

Outstanding at December 31, 2014
1,518,717 

 
$
23.49 

 
$
3.75 

 
74,625 

 
$
23.49 

 
584,949 

 
$
22.87 

 
$
4.10 

 
246,785 

 
$
29.13 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

This represents Class RS units that upon vesting have converted to Operating Partnership units.

(2)

This represents the Class A common stock that has been released from restriction and which was not surrendered by the holder to satisfy their statutory minimum federal and state tax obligations associated with the vesting of restricted common stock.

(3)

Includes 8,160 of restricted Class A common stock surrendered by certain employees to satisfy their statutory minimum federal and state tax obligations associated with the vesting of restricted common stock.

Summary of Assumptions and Fair Values for Restricted Stock and Options to Purchase Shares of Class A Common Stock Granted

Class O units and options to purchase shares of Class A common stock were valued using the Black-Scholes model.

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

2013

 

2012

Fair value of Class RS Units granted

 

 

$                      -

 

$                    -

 

$                7.15

Fair value of Class O Units granted

 

 

$                      -

 

$10.26-$10.92

 

$1.79-$2.32

Fair value of restricted stock granted

 

 

$25.51-$35.51

 

$            21.00

 

$                      -

Fair value of options granted

 

 

$4.94-$5.98

 

$3.45-$3.52

 

$                      -

Expected term (years)

 

 

5.5-6.1 

 

5.5-7.0

 
4 

Expected volatility

 

 
33% 

 

32%-40%

 
55% 

Expected dividend yield

 

 

4.02-4.55%

 
5.5% 

 
0% 

Expected risk-free interest rates

 

 

1.7-1.9%

 

1.4%-1.8%

 
0.17% 

 

Summary of Information About Awards Outstanding

The following tables summarize information about awards outstanding as of December 31, 2014.

 

 

 

 

 

 

 

 

 

 

 

Operating Partnership Awards Outstanding

 

Exercise prices 

 

Awards outstanding 

 

Weighted average remaining vesting period (years) 

Class RS Units

$

 -

 
74,625 

 

2

Class O Units

$

20-25

 
1,518,717 

 

1

Total Operating Partnership awards outstanding

 

 

 
1,593,342 

 

 

 

 

 

 

 

 

 

 

 

 

 

QTS Realty Trust, Inc. Awards Outstanding

 

Exercise prices 

 

Awards outstanding 

 

Weighted average remaining vesting period (years) 

Restricted stock

$

 -

 
246,785 

 

3

Options to purchase Class A common stock

$

21-28.82

 
584,949 

 

2

Total QTS Realty Trust, Inc. awards outstanding

 

 

 
831,734