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Share Options and Awards (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary Of Option Activity

Following is a summary of the option activity for the three years ended December 31, 2020:

    

    

Weighted

 

Shares

 

Average

 

Under

 

Exercise

Option

 

Price

Outstanding, January 1, 2018

 

828,354

$

23.58

Forfeited or expired

 

(196,159)

 

32.22

Exercised

 

(352,318)

 

19.78

Outstanding, December 31, 2018

 

279,877

 

22.30

Forfeited or expired

 

(1,136)

 

11.85

Exercised

 

(71,325)

 

17.98

Outstanding, December 31, 2019

 

207,416

 

23.84

Forfeited or expired

 

(23,222)

 

22.68

Exercised

 

(141,178)

 

23.72

Outstanding, December 31, 2020

 

43,016

$

24.87

Share Options Outstanding And Exercisable

The following table summarizes information about share options outstanding and exercisable at December 31, 2020:

Outstanding

Exercisable

    

    

Weighted

    

    

    

    

Weighted

    

    

Average

Weighted

Aggregate

Average

Weighted

Aggregate

Remaining

Average

Intrinsic

Remaining

Average

Intrinsic

Exercise

Contractual

Exercise

Value

Contractual

Exercise

Value

Price

Number

Life

Price

(000’s)

Number

Life

Price

(000’s)

$ 24.87

 

43,016

 

0.2

years  

$

24.87

 

 

43,016

 

0.2

years  

$

24.87

 

Fair Value Of Market-Based Share Awards Assumptions

The fair value of the market-based share awards was estimated on the date of grant using a Monte Carlo valuation model based on the following assumptions:

Year Ended

December 31, 2020

Minimum

Maximum

Dividend yield

    

0.0

%  

5.2

%

Expected volatility (1)

 

19.0

%  

20.0

%

Expected life (in years)

 

N/A

 

3

Risk-free interest rate

 

0.0

%  

1.6

%

(1)Includes the volatility of the FTSE NAREIT U.S. Shopping Center Index and Weingarten Realty Investors.
Summary Of The Status Of Unvested Share Awards

A summary of the status of unvested share awards for the year ended December 31, 2020 is as follows:

    

    

Weighted

Average

Unvested

Grant

Share

Date Fair

Awards

Value

Outstanding, January 1, 2020

 

801,346

$

29.56

Granted:

 

  

 

  

Service-based awards

 

146,750

 

30.08

Market-based awards relative to FTSE NAREIT U.S. Shopping Center Index

 

66,953

 

31.18

Market-based awards relative to three-year absolute TSR

 

66,952

 

21.29

Trust manager awards

 

42,666

 

17.04

Vested

 

(265,672)

 

31.21

Forfeited

 

(2,700)

 

29.10

Outstanding, December 31, 2020

 

856,295

$

28.00