Share-Based Payments

9 Months Ended

Sep. 30, 2012

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-Based Payments

Share-based Payments

During the nine months endedSeptember 30, 2012, we granted 190,886 stock options with an exercise price equal to the closing market price of a share of our Common Stock on the date of grant. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model, which resulted in a weighted average grant date fair value per share of $5.47. During the nine months endedSeptember 30, 2012, we also granted 90,983 shares of time-based restricted stock and 67,902 shares of total return-based restricted stock with weighted average grant date fair values per share of $32.27 and $38.71, respectively. We recorded stock-based compensation expense of $2.0 million and $1.3 million during the three months endedSeptember 30, 2012 and 2011, respectively, and $6.5 million and $4.8 million during the nine months endedSeptember 30, 2012 and 2011, respectively. At September 30, 2012, there was $5.6 million of total unrecognized stock-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.5 years.

Highwoods Realty Limited Partnership [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-Based Payments

Share-based Payments

During the nine months endedSeptember 30, 2012, the Company granted 190,886 stock options with an exercise price equal to the closing market price of a share of its Common Stock on the date of grant. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model, which resulted in a weighted average grant date fair value per share of $5.47. During the nine months endedSeptember 30, 2012, the Company also granted 90,983 shares of time-based restricted stock and 67,902 shares of total return-based restricted stock with weighted average grant date fair values per share of $32.27 and $38.71, respectively. We recorded stock-based compensation expense of $2.0 million and $1.3 million during the three months endedSeptember 30, 2012 and 2011, respectively, and $6.5 million and $4.8 million during the nine months endedSeptember 30, 2012 and 2011, respectively. At September 30, 2012, there was $5.6 million of total unrecognized stock-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.5 years.