Summary of share-based compensation expense |
| | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2023 | | 2022 | X | 2023 | | 2022 | | | | (In thousands) | Time-Based LTIP Units | | $ | 5,324 | | $ | 6,202 | | $ | 10,856 | | $ | 12,328 | AO LTIP Units and Performance-Based LTIP Units | | | 3,282 | | | 3,590 | | | 6,942 | | | 7,747 | LTIP Units | | | 1,000 | | | 1,000 | | | 1,000 | | | 1,000 | Other equity awards (1) | | | 1,262 | | | 1,399 | | | 2,798 | | | 2,826 | Share-based compensation expense - other | | | 10,868 | | | 12,191 | | | 21,596 | | | 23,901 | Formation awards, OP Units and LTIP Units (2) | | | — | | | 1,017 | | | 108 | | | 1,974 | Special Time-Based LTIP Units and Special Performance-Based LTIP Units (3) | | | — | | | 560 | | | 243 | | | 1,847 | Share-based compensation related to Formation Transaction and special equity awards (4) | | | — | | | 1,577 | | | 351 | | | 3,821 | Total share-based compensation expense | | | 10,868 | | | 13,768 | | | 21,947 | | | 27,722 | Less: amount capitalized | | | (782) | | | (1,297) | | | (1,433) | | | (2,347) | Share-based compensation expense | | $ | 10,086 | | $ | 12,471 | | $ | 20,514 | | $ | 25,375 |
(1) | Primarily comprising compensation expense for: (i) fully vested LTIP Units issued to certain employees in lieu of all or a portion of any cash bonuses earned, (ii) RSUs and (iii) shares issued under our ESPP. |
(2) | Includes share-based compensation expense for formation awards, LTIP Units and OP Units issued in the Formation Transaction, which fully vested in July 2022. |
(3) | Represents equity awards issued related to our successful pursuit of Amazon's additional headquarters in National Landing. |
(4) | Included in "General and administrative expense: Share-based compensation related to Formation Transaction and special equity awards" in our statements of operations. |
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