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Share-Based Compensation and Other Compensation Matters (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of restricted share transactions under the entity's share-based compensation plans
The following table summarizes restricted share transactions under the share-based compensation plans for 2012, 2013 and 2014:
 
 
 Shares
 
Weighted Average Grant Date Fair Value
Unvested at December 31, 2011
 
648,378

 
$
33.13

Granted
 
177,662

 
23.64

Forfeited
 
(17,019
)
 
31.43

Vested
 
(374,378
)
 
32.72

Unvested at December 31, 2012
 
434,643

 
29.67

Granted
 
193,833

 
25.91

Forfeited
 
(9,541
)
 
27.59

Vested
 
(241,487
)
 
30.97

Unvested at December 31, 2013
 
377,448

 
26.96

Granted
 
216,607

 
26.73

Forfeited
 
(21,335
)
 
25.10

Vested
 
(182,213
)
 
28.56

Unvested at December 31, 2014
 
390,507

 
$
26.19

Unvested shares as of December 31, 2014 that are expected to vest
 
375,686

 
$
26.18
Schedule of PSU's Granted
Our Board of Trustees made the following grants of PSUs to executives from 2011 through 2014 (dollars in thousands):
Grant Date
 
Number of PSUs Granted
 
Performance Period Commencement Date
 
Performance Period End Date
 
Grant Date Fair Value
 
Number of PSUs Outstanding as of December 31, 2014
3/3/2011
 
56,883

 
3/3/2011
 
3/2/2014
 
$
2,796

 
—

3/1/2012
 
54,070

 
1/1/2012
 
12/31/2014
 
1,772

 
54,070

3/1/2013
 
69,579

 
1/1/2013
 
12/31/2015
 
1,867

 
69,579

3/6/2014
 
49,103

 
1/1/2014
 
12/31/2016
 
1,723

 
49,103
Schedule of payouts for defined performance under performance-based awards of share-based compensation
The number of PSUs earned (“earned PSUs”) at the end of the performance period will be determined based on the percentile rank of COPT’s total shareholder return relative to a peer group of companies, as set forth in the following schedule:
Percentile Rank
 
Earned PSUs Payout %
75th or greater
 
200% of PSUs granted
50th or greater
 
100% of PSUs granted
25th
 
50% of PSUs granted
Below 25th
 
0% of PSUs granted
Schedule of assumptions used in Monte Carlo models for PSUs
The grant date fair value and certain of the assumptions used in the Monte Carlo models for the PSUs granted in 2012, 2013 and 2014 are set forth below:
 
 
For the Years Ended December 31,
 
 
2014
 
2013
 
2012
Grant date fair value
 
$
35.09

 
$
26.84

 
$
32.77

Baseline common share value
 
$
26.52

 
$
25.85

 
$
24.39

Expected volatility of common shares
 
28.6
%
 
29.5
%
 
43.2
%
Risk-free interest rate
 
0.66
%
 
0.33
%
 
0.41
%
Summary of stock option transactions under the entity's share-based compensation plans
The following table summarizes option transactions under the share-based compensation plans for 2012, 2013 and 2014 (dollars in thousands, except per share data):
 
 
 Shares
 
Range of Exercise Price per Share
 
Weighted Average Exercise Price per Share
 
Weighted Average Remaining Contractual Term
(in Years)
 
Aggregate Intrinsic Value
Outstanding at December 31, 2011
 
945,422

 
$13.40 - $57.00
 
$
36.63

 
4
 
$
510

Forfeited/Expired – 2012
 
(85,588
)
 
$25.52 - $57.00
 
$
42.98

 
 
 
 
Exercised – 2012
 
(61,624
)
 
$13.40 - $22.49
 
$
15.08

 
 
 
 
Outstanding at December 31, 2012
 
798,210

 
$13.60 - $57.00
 
$
37.62

 
3
 
$
325

Forfeited/Expired – 2013
 
(117,952
)
 
$18.08 - $51.62
 
$
40.91

 
 
 
 
Exercised – 2013
 
(39,331
)
 
$13.60 - $26.24
 
$
19.67

 
 
 
 
Outstanding at December 31, 2013
 
640,927

 
$19.63 - $56.00
 
$
38.11

 
2
 
$
68

Forfeited/Expired – 2014
 
(18,303
)
 
$22.34 - $49.60
 
$
42.12

 
 
 
 
Exercised – 2014
 
(62,888
)
 
$19.63 - $28.15
 
$
23.70

 
 
 
 
Outstanding at December 31, 2014
 
559,736

 
$25.52 - $56.00
 
$
39.60

 
2
 
$
167

Exercisable at December 31, 2012
 
798,210

 
(1)
 
$
37.62

 
 
 
 
Exercisable at December 31, 2013
 
640,927

 
(2)
 
$
38.11

 
 
 
 
Exercisable at December 31, 2014
 
559,736

 
(3)
 
$
39.60

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1)
9,500 of these options had an exercise price ranging from $13.60 to $16.73; 204,736 had an exercise price ranging from $16.74 to $30.04; 180,962 had an exercise price ranging from $30.05 to $41.28; and 403,012 had an exercise price ranging from $41.29 to $57.00.
(2)
171,288 of these options had an exercise price ranging from $19.63 to $30.04; 145,187 had an exercise price ranging from$30.05 to $41.28; 160,402 had an exercise price ranging from $41.29 to $42.74; and 164,050 had an exercise price ranging from $42.75 to $56.00.
(3)
105,672 of these options had an exercise price ranging from $25.52 to $30.04; 142,862 had an exercise price ranging from$30.05 to $41.28; 158,902 had an exercise price ranging from $41.29 to $42.74; and 152,300 had an exercise price ranging from $42.75 to $56.00.
Reporting for share-based compensation expense
The table below sets forth our reporting for share based compensation expense (in thousands):
 
 
 For the Years Ended December 31,
 
 
2014
 
2013
 
2012
General, administrative and leasing expenses
 
$
5,307

 
$
5,412

 
$
8,611

Property operating expenses
 
857

 
1,118

 
1,371

Capitalized to development activities
 
886

 
1,075

 
1,202

Share-based compensation expense
 
$
7,050

 
$
7,605

 
$
11,184