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Share-Based Compensation and Other Compensation Matters (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Reporting for share-based compensation expense | The table below sets forth our reporting for share based compensation cost (in thousands):
|  | For the Years Ended December 31,
|  | 2018 |  | 2017 |  | 2016
General, administrative and leasing expenses |  | $ | 5,415 |  |  | $ | 4,649 |  |  | $ | 5,816 |
Property operating expenses |  | 961 |  |  | 966 |  |  | 1,027 |
Capitalized to development activities |  | 587 |  |  | 480 |  |  | 610 |
Share-based compensation cost |  | $ | 6,963 |  |  | $ | 6,095 |  |  | $ | 7,453 |
Summary of restricted share transactions under the entity's share-based compensation plans | The following table summarizes restricted shares under the share-based compensation plans for 2016, 2017 and 2018:
|  | Shares |  | Weighted Average Grant Date Fair Value
Unvested as of December 31, 2015 |  | 378,200 |  |  | $ | 27.58 |
Granted |  | 231,937 |  |  | 24.77 |
Forfeited |  | (22,907 | ) |  | 25.31 |
Vested |  | (215,983 | ) |  | 27.19 |
Unvested as of December 31, 2016 |  | 371,247 |  |  | 26.20 |
Granted |  | 239,479 |  |  | 33.84 |
Forfeited |  | (27,056 | ) |  | 27.80 |
Vested |  | (158,044 | ) |  | 26.27 |
Unvested as of December 31, 2017 |  | 425,626 |  |  | 30.37 |
Granted |  | 219,716 |  |  | 25.62 |
Forfeited |  | (25,419 | ) |  | 30.02 |
Vested |  | (181,238 | ) |  | 29.49 |
Unvested as of December 31, 2018 |  | 438,685 |  |  | $ | 28.38 |
Unvested shares as of December 31, 2018 that are expected to vest |  | 413,273 |  |  | $ | 28.35 |
Schedule of PSU's Granted | We made the following grants of PSUs to executives from 2014 through 2018 (dollars in thousands):
Grant Date |  | Number of PSUs Granted |  | Performance Period Commencement Date |  | Performance Period End Date |  | Grant Date Fair Value |  | Number of PSUs Outstanding as of December 31, 2018
3/6/2014 |  | 49,103 |  |  | 1/1/2014 |  | 12/31/2016 |  | $ | 1,723 |  |  | — |
3/5/2015 |  | 45,656 |  |  | 1/1/2015 |  | 12/31/2017 |  | $ | 1,678 |  |  | — |
3/1/2016 |  | 26,299 |  |  | 1/1/2016 |  | 12/31/2018 |  | $ | 1,005 |  |  | 24,850 |
1/1/2017 |  | 39,351 |  |  | 1/1/2017 |  | 12/31/2019 |  | $ | 1,415 |  |  | 39,351 |
1/1/2018 |  | 59,110 |  |  | 1/1/2018 |  | 12/31/2020 |  | $ | 1,890 |  |  | 59,110 |
Schedule of payouts for defined performance under performance-based awards of share-based compensation | The number of PSUs earned (“earned PSUs”) at the end of the performance period will be determined based on the percentile rank of COPT’s total shareholder return relative to a peer group of companies, as set forth in the following schedule:
Percentile Rank |  | Earned PSUs Payout %
75th or greater |  | 200% of PSUs granted
50th or greater |  | 100% of PSUs granted
25th or greater |  | 50% of PSUs granted
Below 25th |  | 0% of PSUs granted
Schedule of assumptions used in Monte Carlo models for PSUs | The grant date fair value and certain of the assumptions used in the Monte Carlo models for the PSUs granted in 2016, 2017 and 2018 are set forth below:
Grant Date |  | Grant Date Fair Value Per Share |  | Baseline Common Share Value |  | Expected Volatility of Common Shares |  | Risk-free Interest Rate
3/1/2016 |  | $ | 38.21 |  |  | $ | 23.90 |  |  | 20.4 | % |  | 0.96 | %
1/1/2017 |  | $ | 38.43 |  |  | $ | 31.22 |  |  | 19.0 | % |  | 1.47 | %
1/1/2018 |  | $ | 31.97 |  |  | $ | 29.20 |  |  | 17.0 | % |  | 2.04 | %
Deferred share awards | We made the following grants of deferred share awards to nonemployee members of our Board of Trustees in 2016, 2017 and 2018 (dollars in thousands, except per share data):
Year of Grant |  | Number of Deferred Share Awards Granted |  | Aggregate Grant Date Fair Value |  | Grant Date Fair Value Per Share
2016 |  | 24,944 |  |  | $ | 671 |  |  | $ | 26.89 |
2017 |  | 10,032 |  |  | $ | 326 |  |  | $ | 32.47 |
2018 |  | 13,832 |  |  | $ | 388 |  |  | $ | 28.08 |
Deferred share awards vested activity | We issued the following common shares in settlement of deferred shares in 2016, 2017 and 2018 (dollars in thousands, except per share data):
|  | For the Years Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Number of common shares issued |  | 5,515 |  |  | 15,590 |  |  | 12,028 |
Grant date fair value per share |  | $ | 29.32 |  |  | $ | 26.89 |  |  | $ | 26.70 |
Aggregate intrinsic value |  | $ | 154 |  |  | $ | 508 |  |  | $ | 322 |
Summary of stock option transactions under the entity's share-based compensation plans | The table below sets forth information regarding our outstanding options as of the following dates (dollars in thousands, except per share data):
|  | Options Outstanding and Exercisable |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term (in Years) |  | Aggregate Intrinsic Value
December 31, 2015 |  | 425,347 |  |  | $42.75 |  | 1 |  | $ | — |
December 31, 2016 |  | 201,100 |  |  | $43.35 |  | 1 |  | $ | 31 |
December 31, 2017 |  | 60,000 |  |  | $35.17 |  | 1 |  | $ | — |
December 31, 2018 |  | 30,000 |  |  | $32.52 |  | 0.4 |  | $ | — |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance share units, including, but not limited to: (a) Grant date fair value (b) baseline common share value (c) expected volatility of the entity's shares, and (d) risk-free rate(s). + References No definition available. + Details
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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5047-113901 + Details
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