Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of restricted share and TB-PIU activity
The following table summarizes restricted shares activity under our share-based compensation plans for the three months ended March 31, 2024:
Number of Shares Weighted Average Grant Date Fair Value
Unvested as of December 31, 2023
 353,455  $ 25.82 
Granted 135,481  $ 24.56 
Forfeited (7,131) $ 26.01 
Vested (121,702) $ 26.06 
Unvested as of March 31, 2024
 360,103  $ 25.26 
The following table summarizes TB-PIUs activity under our share-based compensation plans for the three months ended March 31, 2024:
Number of TB-PIUs Weighted Average Grant Date Fair Value
Unvested as of December 31, 2023
 194,415  $ 25.76 
Granted 110,203  $ 24.56 
Vested (75,485) $ 26.08 
Unvested as of March 31, 2024
 229,133  $ 25.08 
Schedule of payouts for defined performance under PB-PIUs
The number of earned awards following the end of the performance period will be determined based on the percentile rank of COPT Defense’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