Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.23.1
Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of restricted share and TB-PIU transactions under the entity's share-based compensation plans
The following table summarizes restricted share activity under our share-based compensation plans for the three months ended March 31, 2023:
Number of Shares Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022
 325,083  $ 26.27 
Granted 158,242  $ 25.72 
Forfeited (24,510) $ 25.89 
Vested (124,838) $ 26.02 
Unvested as of March 31, 2023
 333,977  $ 26.13 
The following table summarizes TB-PIUs activity under our share-based compensation plans for the three months ended March 31, 2023:
Number of TB-PIUs Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022
 187,330  $ 26.19 
Granted 82,334  $ 25.72 
Forfeited (27,182) $ 26.46 
Vested (73,869) $ 26.07 
Unvested as of March 31, 2023
 168,613  $ 25.97 
Schedule of payouts for defined performance under PB-PIUs The number of earned awards at the end of the performance period will be determined based on the percentile rank of COPT’s total shareholder return (“TSR”) relative to a peer group of companies, as set forth in the following schedule:
Percentile Rank   Earned PB-PIUs Payout %
75th or greater  
100% of PB-PIUs granted
50th (target)  
50% of PB-PIUs granted
25th  
25% of PB-PIUs granted
Below 25th  
0% of PB-PIUs granted