Partners' Capital, Equity and Incentive Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2014

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 three months ended March 31, 2014:


	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 December 31, 2013		1,622,747	$	23.44	$	3.84		173,750		$	—		367,910	$	21.00	$	3.50		108,629	$	21.00

Granted		—		—		—		—			—		230,539		25.51		4.94		44,000		25.51
Exercised		—		—		—		—			—		—		—				—		—
Released from restriction		—		—		—		(1,250	)		—		—		—				—		—
Cancelled/Expired		—		—		—		—			—		—		—		—		—		—

Outstanding at March 31, 2014		1,622,747	$	23.44	$	3.84		172,500		$	—		598,449	$	22.74	$	4.05		152,629	$	22.30

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

The assumptions and fair values for restricted stock and options to purchase shares of Class A common stock granted for the three months ended March 31, 2014 is included in the following table on a per unit basis. Class O units and options to purchase shares of Class A common stock were valued using the Black-Scholes model.


	Three months ended March 31, 2014
Fair value of restricted stock granted	$	25.51
Fair value of options granted	$	4.93-$ 5.08
Expected term (years)		5.5-6.1
Expected volatility		33	%
Expected dividend yield		4.55	%
Expected risk-free interest rates		1.7-1.9	%

Summary of Information About Awards Outstanding

The following table summarizes information about awards outstanding as of March 31, 2014.


	Operating Partnership Awards Outstanding
	Exercise prices		Awards outstanding		Weighted average remaining vesting period (years)
Class RS Units	$	—		172,500	2
Class O Units	$	20-25		1,622,747	2

Total Operating Partnership awards outstanding				1,795,247


	QTS Realty Trust, Inc. Awards Outstanding
	Exercise prices		Awards outstanding		Weighted average remaining vesting period (years)
Restricted stock	$	—		152,629	4
Options to purchase Class A common stock		21-25.51		598,449	2

Total QTS Realty Trust, Inc awards outstanding				751,078