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Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of restricted share and TB-PIU transactions under the entity's share-based compensation plans

The following table summarizes restricted share activity under our share-based compensation plans for the three months ended March 31, 2023:


	Number of Shares	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022	325,083	$	26.27
Granted	158,242	$	25.72
Forfeited	(24,510)	$	25.89
Vested	(124,838)	$	26.02
Unvested as of March 31, 2023	333,977	$	26.13

The following table summarizes TB-PIUs activity under our share-based compensation plans for the three months ended March 31, 2023:


	Number of TB-PIUs	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022	187,330	$	26.19
Granted	82,334	$	25.72
Forfeited	(27,182)	$	26.46
Vested	(73,869)	$	26.07
Unvested as of March 31, 2023	168,613	$	25.97

Schedule of payouts for defined performance under PB-PIUs

The number of earned awards at the end of the performance period will be determined based on the percentile rank of COPT’s total shareholder return (“TSR”) relative to a peer group of companies, as set forth in the following schedule:


Percentile Rank						Earned PB-PIUs Payout %
75th or greater						100% of PB-PIUs granted
50th (target)						50% of PB-PIUs granted
25th						25% of PB-PIUs granted
Below 25th						0% of PB-PIUs granted