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Long-Term Compensation | 6 Months Ended
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Jun. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Long-Term Compensation | Long-Term Compensation Awards with Performance Measures During the six months ended June 30, 2020, the Company granted 59,263 performance units ("Performance Units") and 322,477 RLP Units, based on performance-based criteria ("Performance RLP Units" and, together with the Performance Units, collectively the "Performance Awards") to certain employees, which had a fair value of approximately $7,883 on the grant date as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation. A portion of each Performance Award vests based upon the total shareholder return ("TSR") of the Company's common stock compared to the TSRs of the FTSE Nareit All Equity Index and the remainder vests based upon the TSR of the Company’s common stock compared to nine other peer industrial real estate companies. The performance periods for such awards are one year, two years and three years. Compensation expense is charged to earnings over the applicable vesting period for the Performance Awards. At the end of the measuring period, vested Performance Units convert into shares of common stock. Service Based Awards For the six months ended June 30, 2020, the Company awarded 79,195 shares of restricted stock units ("Service Units") and 119,596 RLP Units based on service-based criteria ("Service RLP Units" and together with the Service Units, collectively the "Service Awards") to certain employees and outside directors, which had an aggregate fair value of approximately $8,592 on the date such awards were approved by the Compensation Committee of the Board of Directors. The Service Awards granted to employees vest ratably over three years based on continued employment. Service Awards granted to outside directors vest after one year. The Operating Partnership issued restricted Unit awards to the Company in the same amount and on substantially the same terms as the restricted stock awards. Compensation expense is charged to earnings over the vesting periods for the Service Awards. Retirement Eligibility Commencing January 1, 2020, all award agreements issued underlying Performance Awards and Service Awards contain a retirement benefit for employees with at least 10 years of continuous service and are at least 60 years old. For employees that meet the age and service eligibility requirements, their awards are non-forfeitable. As such, during the six months ended June 30, 2020, we expensed 100% of the awards granted to retirement-eligible employees at the grant date as if fully vested. For employees who will meet the age and service eligibility requirements during the normal vesting periods, the grants are amortized over the shorter service period. Outstanding Performance Awards and Service Awards We recognized $3,108 and $2,053 for the three months ended June 30, 2020 and 2019, respectively, and $6,749 and $3,815 for the six months ended June 30, 2020 and 2019, respectively, in compensation expense related to the amortization of the Service Awards and the Performance Awards. Service Award and Performance Award amortization capitalized in connection with development activities was $330 and $238 for the three months ended June 30, 2020 and 2019, and $1,312 and $442 for the six months ended June 30, 2020 and 2019. At June 30, 2020, we had $18,945 in unrecognized compensation related to unvested Service Awards and Performance Awards. The weighted average period that the unrecognized compensation is expected to be recognized is 1.00 year.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: 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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