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Partners' Capital, Equity and Incentive Compensation Plans (Tables)
 6 Months Ended
Jun. 30, 2015
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 six months ended June 30, 2015:  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 grant date value

 

Options 

 

Weighted average exercise price 

 

Weighted average fair     value 

 

Restricted Stock 

 

Weighted average grant date value

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 

    Granted

—  

 

—  

 

—  

 

—  

 

—  

 
312,997 

 
36.14 

 
8.02 

 
186,070 

 
35.95 

    Exercised/Vested (2)
(46,170)

 
20.62 

 
4.74 

 

—  

 

—  

 
(8,843)

 
21.80 

 
3.80 

 
(20,453)

 
23.26 

    Released from restriction (1)

—  

 

—  

 

—  

 
(17,375)

 
25.00 

 

—  

 

—  

 

—  

 

—  

 

—  

    Cancelled/Expired (3)

—  

 

—  

 

—  

 

—  

 

—  

 
(8,594)

 
21.00 

 
3.52 

 
(9,625)

 
23.92 

Outstanding at June 30, 2015
1,472,547 

 
$
23.58 

 
$
3.72 

 
57,250 

 
$
23.03 

 
880,509 

 
$
27.61 

 
$
5.50 

 
402,777 

 
$
32.70 

 

(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 9,625 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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three and Six Months Ended June 30, 2015

Fair value of restricted stock granted

 

 

 

$35.81-$37.64

Fair value of options granted

 

 

 

$8.00-$8.05

Expected term (years)

 

 

 

5.5-6.1 

Expected volatility

 

 

 
33% 

Expected dividend yield

 

 

 

3.50-3.57%

Expected risk-free interest rates

 

 

 

1.67-1.69%

 

Summary of Information About Awards Outstanding

The following table summarizes information about awards outstanding as of June 30, 2015.

 

 

 

 

 

 

 

 

 

 

 

Operating Partnership Awards Outstanding

 

Exercise prices 

 

Awards outstanding 

 

Weighted average remaining vesting period (years) 

Class RS Units

$

 -

 
57,250 

 

2

Class O Units

$

20-25

 
1,472,547 

 

1

Total Operating Partnership awards outstanding

 

 

 
1,529,797 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

QTS Realty Trust, Inc. Awards Outstanding

 

Exercise prices 

 

Awards outstanding 

 

Weighted average remaining vesting period (years) 

Restricted stock

$

 -

 
402,777 

 

3

Options to purchase Class A common stock

$

21-36.54

 
880,509 

 

1

Total QTS Realty Trust, Inc. awards outstanding

 

 

 
1,283,286