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Common Stock and Other Equity Related Transactions | 12 Months Ended
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Dec. 31, 2018
Equity [Abstract] |
Common Stock and Other Equity Related Transactions | Common Stock and Other Equity Related Transactions On October 26, 2018, we entered into our current at-the-market ("ATM") equity offering program with certain sales agents, pursuant to which we may sell, from time-to-time, shares of our Common Stock with a par value of $0.01 per share, up to an aggregate offering price of up to $200.0 million. The full capacity remained available for issuance as of December 31, 2018. The following table presents the shares that were issued under our prior ATM equity offering program:
| Years Ended December 31,
(amounts in thousands, except share data) | 2018 |  | 2017 |  | 2016
Shares of Common Stock sold | 861,141 |  |  | 1,380,017 |  |  | 683,548 |
Weighted average price | $ | 91.45 |  |  | $ | 87.46 |  |  | $ | 73.15 |
Total gross proceeds | $ | 78,755 |  |  | $ | 120,698 |  |  | $ | 50,000 |
Commissions paid to sales agents | $ | 1,028 |  |  | $ | 1,512 |  |  | $ | 657 |
On May 10, 2016, we amended and restated the 1997 Non-Qualified Employee Stock Purchase Plan ("ESPP"). Pursuant to the ESPP, certain of our employees and directors may each annually acquire up to $250,000 of our common stock. The aggregate number of shares of common stock available under the ESPP shall not exceed 2,000,000, subject to adjustment by our Board of Directors. The common stock may be purchased monthly at a price equal to 85% of the lesser of: (a) the closing price for a share of common stock on the last day of the offering period; and (b) the closing price for a share of common stock on the first day of the offering period. Shares of common stock issued through the ESPP for the years ended December 31, 2018, 2017 and 2016 were 22,071, 24,715 and 17,037, respectively. The following table presents the changes in our outstanding common stock (excluding OP Units of 5,745,966, 5,834,100, and 7,170,000 outstanding at December 31, 2018, 2017 and 2016, respectively):
| Years Ended December 31,
| 2018 |  | 2017 |  | 2016
Shares outstanding at January 1, | 88,585,160 |  |  | 85,529,386 |  |  | 84,253,065 |
Common stock issued through the ATM Equity Offering Program | 861,141 |  |  | 1,380,017 |  |  | 683,548 |
Common stock issued through conversion of OP Units | 88,134 |  |  | 1,335,900 |  |  | 37,678 |
Common stock issued through exercise of options | 202,800 |  |  | 220,000 |  |  | 440,000 |
Common stock issued through restricted stock grants | 192,505 |  |  | 130,426 |  |  | 133,717 |
Common stock forfeitures | — |  |  | (990 | ) |  | — |
Common stock issued through ESPP and Dividend Reinvestment Plan | 22,572 |  |  | 25,101 |  |  | 17,373 |
Common stock repurchased and retired | (31,294 | ) |  | (34,680 | ) |  | (35,995 | )
Shares outstanding at December 31, | 89,921,018 |  |  | 88,585,160 |  |  | 85,529,386 |
During the years ended December 31, 2018, 2017 and 2016, we repurchased shares of common stock representing common stock surrendered to satisfy income tax withholding obligations primarily due to the vesting of restricted stock grants at a weighted average price of $96.23, $89.02 and $72.22 per share, respectively. As of December 31, 2018, 2017 and 2016, ELS' percentage ownership of the Operating Partnership was approximately 94.0%, 93.8% and 92.3%, respectively. The remaining approximately 6.0%, 6.2% and 7.7% as of December 31, 2018, 2017 and 2016, respectively, was owned by the Common OP Unitholders. The following regular quarterly distributions have been declared and paid to common stockholders and common OP Unit non-controlling interests since January 1, 2016:
Distribution Amount Per Share |  | For the Quarter Ended |  | Stockholder Record Date |  | Payment Date
$0.4250 |  | March 31, 2016 |  | March 25, 2016 |  | April 8, 2016
$0.4250 |  | June 30, 2016 |  | June 24, 2016 |  | July 8, 2016
$0.4250 |  | September 30, 2016 |  | September 30, 2016 |  | October 14, 2016
$0.4250 |  | December 31, 2016 |  | December 30, 2016 |  | January 13, 2017
$0.4875 |  | March 31, 2017 |  | March 31, 2017 |  | April 14, 2017
$0.4875 |  | June 30, 2017 |  | June 30, 2017 |  | July 14, 2017
$0.4875 |  | September 30, 2017 |  | September 29, 2017 |  | October 13, 2017
$0.4875 |  | December 31, 2017 |  | December 29, 2017 |  | January 12, 2018
$0.5500 |  | March 31, 2018 |  | March 30, 2018 |  | April 13, 2018
$0.5500 |  | June 30, 2018 |  | June 29, 2018 |  | July 13, 2018
$0.5500 |  | September 30, 2018 |  | September 28, 2018 |  | October 12, 2018
$0.5500 |  | December 31, 2018 |  | December 28, 2018 |  | January 11, 2019

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + 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 + Details
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