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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity
The following table summarizes the option activity for the year ended December 31, 2022 (dollars in thousands except share and per share data):
OptionsWeighted Average
Exercise Price
Aggregate
Intrinsic Value
Weighted Average Remaining
Contractual Term (in years)
Outstanding as of January 1, 20221,250 $20.20 
Exercised(1,250)20.20 
Outstanding as of December 31, 2022— $— $— 0.00
Exercisable as of December 31, 2022— $— $— 0.00
Exercisable as of December 31, 20211,250 $20.20 
During the years ended December 31, 2020 and 2021, in connection with its annual review of executive compensation and as described in the table below, the Compensation Committee approved an aggregate grant of AO LTIP Units to the Company’s executive officers under the Equity Plan.
 Number of
AO LTIP Units
Participation Threshold
per AO LTIP Unit
Executive2020 Awards2021 Awards2020 Awards2021 Awards
John A. Kite 1,729,729 477,612 $17.76 $16.69 
Thomas K. McGowan 405,405 149,254 $17.76 $16.69 
Heath R. Fear 275,675 119,403 $17.76 $16.69 
Schedule of Restricted Share Activity
The following table summarizes the restricted share activity to employees and the Board of Trustees for the year ended December 31, 2022:
 Number of
Restricted Shares
Weighted Average
Grant Date Fair
Value per share
Restricted shares outstanding as of January 1, 2022323,232 $18.27 
Shares granted206,855 21.15 
Shares forfeited(17,674)21.07 
Shares vested(211,580)18.38 
Restricted shares outstanding as of December 31, 2022300,833 $19.98 
The following table summarizes the restricted share grants and vestings during the years ended December 31, 2022, 2021, and 2020 (dollars in thousands, except share and per share data):
Number of
Restricted Shares Granted
Weighted Average
Grant Date Fair
Value per Share
Fair Value of
Restricted Shares Vested
2022206,855 $21.15 $4,459 
2021194,411 $19.85 $3,763 
2020211,476 $13.21 $2,727 
The following table summarizes the activity for the restricted unit awards for the year ended December 31, 2022:
 Number of
Restricted Units
Weighted Average
Grant Date Fair
Value per unit
Restricted units outstanding as of January 1, 2022414,441 $13.24 
Restricted units granted138,505 17.07 
Restricted units vested(145,808)13.60 
Restricted units outstanding at December 31, 2022407,138 $14.41 
The following table summarizes the restricted unit grants and vestings during the years ended December 31, 2022, 2021, and 2020 (dollars in thousands, except unit and per unit data):
Number of
Restricted Units Granted
Weighted Average
Grant Date Fair
Value per Unit
Fair Value of
Restricted Units Vested
2022138,505 $17.07 $3,173 
202172,689 $14.26 $2,956 
2020431,913 $13.10 $1,784