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Common Stock Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of severance-related expense The total value of cash, stock compensation and professional fees incurred as a result of this severance was $28.3 million; however, the net amount, after incorporating accruals for CEO compensation previous to this severance, was $18.7 million, which was recognized in general and administrative expense on our 2018 consolidated statement of income and comprehensive income, and which represents the incremental costs incurred per the reconciliation below (dollars in thousands):

Cash
$
9,817

Stock compensation
17,902

Professional fees
574

Total value of severance
28,293

Amount accrued for CEO compensation prior to separation
(9,642
)
Incremental severance
$
18,651
Schedule of nonvested restricted stock activity
The following table summarizes our common stock grant activity under our 2012 Plan.
 
 
2019
 
2018
 
2017
 
 
Number of
shares
 
Weighted
average
price(1)
 
Number of
shares
 
Weighted
average
price(1)
 
Number of
shares
 
Weighted
average
price(1)
Outstanding nonvested shares, beginning of year
 
307,821

 
$
53.44

 
475,768

 
$
52.32

 
513,523

 
$
48.33

Shares granted
 
87,327

 
$
69.83

 
183,952

 
$
52.21

 
149,264

 
$
59.21

Shares vested
 
(126,363
)
 
$
54.45

 
(310,706
)
 
$
51.05

 
(183,381
)
 
$
46.65

Shares forfeited
 
(9,087
)
 
$
55.71

 
(41,193
)
 
$
53.06

 
(3,638
)
 
$
56.57

Outstanding nonvested shares, end of each period
 
259,698

 
$
58.39

 
307,821

 
$
53.44

 
475,768

 
$
52.32


(1)  Grant date fair value.
Schedule of number of performance shares that vest based on the achievement of performance goals The number of performance shares that vest for each of the three years is based on the achievement of the following performance goals:


Performance Awards Metrics
 
Weighting

Total shareholder return (“TSR”) relative to MSCI US REIT Index
 
45
%
TSR relative to JP Morgan Net Lease Peers
 
26
%
Dividend per share growth rate
 
16
%
Debt-to-EBITDA ratio
 
13
%
Schedule of nonvested performance shares activity The following table summarizes our performance share grant activity: 
 
 
2019
 
2018
 
2017
 
 
Number of
performance
shares

 
Weighted
average
price(1)

 
Number of
performance
shares

 
Weighted
average
price(1)

 
Number of
performance
shares

 
Weighted
average
price(1)

Outstanding nonvested shares, beginning of year
 
223,392

 
$
58.78

 
245,309

 
$
62.49

 
159,751

 
$
49.95

Shares granted
 
128,581

 
$
65.34

 
269,868

 
$
51.98

 
124,681

 
$
71.79

Shares vested
 
(47,310
)
 
$
54.27

 
(291,785
)
 
$
54.88

 
(39,123
)
 
$
41.60

Shares forfeited
 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Outstanding nonvested shares, end of each period
 
304,663

 
$
62.25

 
223,392

 
$
58.78

 
245,309

 
$
62.49


(1) Grant date fair value.
Schedule of nonvested restricted stock units activity
During 2019, 2018 and 2017 we also granted restricted stock units that primarily vest over a four-year service period and have the same economic rights as shares of restricted stock: 
 
 
2019
 
2018
 
2017
 
 
Number of
restricted stock
units

 
Weighted
average
price(1)

 
Number of
restricted stock
units

 
Weighted
average
price(1)

 
Number of
restricted stock
units

 
Weighted
average
price(1)

Outstanding nonvested shares, beginning of year
 
14,968

 
$
54.62

 
24,869

 
$
55.97

 
18,460

 
$
52.65

Shares granted
 
5,482

 
$
69.58

 
8,383

 
$
49.96

 
10,467

 
$
60.56

Shares vested
 
(4,939
)
 
$
54.90

 
(10,118
)
 
$
55.01

 
(4,058
)
 
$
52.70

Shares forfeited
 
—

 
$
—

 
(8,166
)
 
$
53.45

 
—

 
$
—

Outstanding nonvested shares, end of each period
 
15,511

 
$
59.82

 
14,968

 
$
54.62

 
24,869

 
$
55.97


(1) Grant date fair value.