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Share and Unit-Based Plans (Tables) | 3 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of LTIP units granted | During the three months ended March 31, 2021, the Company granted the following LTIP Units:
Grant Date |  | Units |  | Type |  | Fair Value per LTIP Unit |  | Vest Date
1/1/2021 |  | 576,378 |  |  | Service-based |  | $ | 10.67 |  |  | 12/31/2023
1/1/2021 |  | 1,005,073 |  |  | Market-indexed |  | $ | 9.85 |  |  | 12/31/2023
|  | 1,581,451 |  |  |  |  |  |  |
Summary of activity of non-vested LTIP units, stock awards, phantom stock and stock units | The following table summarizes the activity of the non-vested LTIP Units, phantom stock units and stock units:
| LTIP Units |  |  |  | Phantom Stock Units |  | Stock Units
| Units |  | Value(1) |  |  |  |  |  | Units |  | Value(1) |  | Units |  | Value(1)
Balance at January 1, 2021 | 784,052 |  |  | $ | 28.11 |  |  |  |  |  |  | 4,662 |  |  | $ | 35.35 |  |  | 309,845 |  |  | $ | 21.47 |
Granted | 1,581,451 |  |  | 10.15 |  |  |  |  |  |  | 14,566 |  |  | 10.96 |  |  | 92,057 |  |  | 13.43 |
Vested | (16,467) |  |  | 29.86 |  |  |  |  |  |  | (5,691) |  |  | 16.33 |  |  | (72,407) |  |  | 34.41 |
Forfeited | — |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | (987) |  |  | 22.12 |
Balance at March 31, 2021 | 2,349,036 |  |  | $ | 16.01 |  |  |  |  |  |  | 13,537 |  |  | $ | 17.10 |  |  | 328,508 |  |  | $ | 16.36 |
(1) Value represents the weighted average grant date fair value.
Summary of activity of SARs and stock options outstanding | The following table summarizes the activity of the stock options outstanding:
|  |  | Stock Options
|  |  |  |  | Units |  | Value(1)
Balance at January 1, 2021 |  |  |  |  | 37,515 |  |  | $ | 54.34 |
Granted |  |  |  |  | — |  |  | — |
Exercised |  |  |  |  | — |  |  | — |
Balance at March 31, 2021 |  |  |  |  | 37,515 |  |  | $ | 54.34 |
(1) Value represents the weighted average exercise price.
Compensation cost under the share and unit-based plans | The following summarizes the compensation cost under the share and unit-based plans:
|  |  | For the Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020
LTIP Units |  |  |  |  | $ | 3,611 |  |  | $ | 3,214 |
Stock units |  |  |  |  | 1,327 |  |  | 2,202 |
Stock options |  |  |  |  | — |  |  | — |
Phantom stock units |  |  |  |  | 93 |  |  | 187 |
|  |  |  |  | $ | 5,031 |  |  | $ | 5,603 |

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