Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.23.2
Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 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 six months ended June 30, 2023:
Number of Shares Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022
 325,083  $ 26.27 
Granted 188,311  $ 25.30 
Forfeited (28,224) $ 25.93 
Vested (141,616) $ 26.01 
Unvested as of June 30, 2023
 343,554  $ 25.87 
The following table summarizes TB-PIUs activity under our share-based compensation plans for the six months ended June 30, 2023:
Number of TB-PIUs Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022
 187,330  $ 26.19 
Granted 100,426  $ 25.37 
Forfeited (27,182) $ 26.46 
Vested (89,633) $ 25.95 
Unvested as of June 30, 2023
 170,941  $ 25.79 
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