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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Share-Based Compensation | Note 11. Share-Based Compensation 2012 Equity Incentive Plan The Company’s employees are compensated through the Operating Partnership, including share-based compensation. When the Company issues Class A common shares under the 2012 Equity Incentive Plan (the “Plan”), the Operating Partnership issues an equivalent number of Class A units to AH4R and non-management members of our board of trustees. Restricted stock units (“RSUs”) granted to employees during the nine months ended September 30, 2020 vest over a three-year service period, and stock options and RSUs granted to employees during the nine months ended September 30, 2019 vest over a four-year service period. RSUs granted to non-management trustees vest over a one-year service period. Stock options granted during the nine months ended September 30, 2019 expire 10 years from the date of grant. The following table summarizes stock option activity under the Plan for the nine months ended September 30, 2020 and 2019:
| For the Nine Months Ended September 30, |  |  |  |
| 2020 |  | 2019 |  |  |  |
Options outstanding at beginning of period | 1,529,800 |  |  | 2,252,275 |  |  |  |  |
Granted | — |  |  | 20,000 |  |  |  |  |
Exercised | (333,650) |  |  | (698,525) |  |  |  |  |
Forfeited | (2,850) |  |  | (12,350) |  |  |  |  |
Options outstanding at end of period | 1,193,300 |  |  | 1,561,400 |  |  |  |  |
Options exercisable at end of period | 1,049,200 |  |  | 1,194,750 |  |  |  |  |
The following table summarizes RSU activity under the Plan for the nine months ended September 30, 2020 and 2019:
| For the Nine Months Ended September 30,
| 2020 |  | 2019
RSUs outstanding at beginning of period | 599,109 |  |  | 372,375 |
Units awarded | 470,147 |  |  | 345,334 |
Units vested | (207,947) |  |  | (111,000) |
Units forfeited | (42,565) |  |  | (11,900) |
RSUs outstanding at end of period | 818,744 |  |  | 594,809 |
The Company’s noncash share-based compensation expense relating to corporate administrative employees is included in general and administrative expense and the noncash share-based compensation expense relating to centralized and field property management employees is included in property management expenses. The following table summarizes the activity that relates to the Company’s noncash share-based compensation expense for the three and nine months ended September 30, 2020 and 2019 (in thousands):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
General and administrative expense | $ | 1,723 |  |  | $ | 938 |  |  | $ | 4,741 |  |  | $ | 2,520 |
Property management expenses | 447 |  |  | 350 |  |  | 1,327 |  |  | 989 |
Total noncash share-based compensation expense | $ | 2,170 |  |  | $ | 1,288 |  |  | $ | 6,068 |  |  | $ | 3,509 |

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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