XML 35 R19.htm IDEA: XBRL DOCUMENT v3.21.2
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company maintains the Cousins Properties Incorporated 2019 Omnibus Incentive Stock Plan (the "2019 Plan") under which the Company has several types of stock-based compensation — stock options, restricted stock, and restricted stock units ("RSUs").
Employee Awards
The Company's stock compensation expense for three and six months ended June 30, 2021 relates to restricted stock and RSUs awarded in 2021, 2020, 2019, and 2018. Stock compensation expense for three and six months ended June 30, 2020 relates to restricted stock and RSUs awarded in 2020, 2019, 2018, and 2017. Restricted stock, the 2021 RSUs, and the 2020 RSUs are equity-classified awards (settled in shares of the Company) for which compensation expense per share is fixed. The 2019, 2018, and 2017 RSUs are liability-classified awards (settled in cash) for which the expense fluctuates from period to period dependent, in part, on the Company's stock price. For the three and six months ended June 30, 2021 and 2020, stock-based compensation expense, net of forfeitures, was recorded as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Equity-classified awards:
Restricted stock$682 $752 $1,314 $1,448 
Market based RSUs586 287 1,359 714 
Performance based RSUs218 102 474 263 
Total equity-classified award expense, net of forfeitures1,486 1,141 3,147 2,425 
Liability-classified awards
Market based RSUs657 1,458 770 439 
Performance based RSUs151 99 257 (85)
Time vested RSUs211 130 373 279 
Dividend equivalent units26 93 52 127 
Total liability-classified award expense, net of forfeitures1,045 1,780 1,452 760 
Total stock-based compensation expense,
net of forfeitures		$2,531 $2,921 $4,599 $3,185 
Information on the Company's stock compensation plan, including information on the Company's equity-classified and liability-classified awards is discussed in note 16 of the notes to consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2020.
Director Awards
Under the 2019 Plan, in June 2021 the Company granted 34,727 shares of stock with a grant date value of $1.3 million to independent members of the board of directors for their service as members of the board. These shares vest on the issuance date and the Company records the related expense over the directors' one year service period.