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Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Share and TB-PIU Activity

The following table summarizes restricted shares activity under our share-based compensation plans for the nine months ended September 30, 2024:


	Number of Shares	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2023	353,455	$	25.82
Granted	167,502	$	24.84
Forfeited	(20,980)	$	25.77
Vested	(152,642)	$	25.82
Unvested as of September 30, 2024	347,335	$	25.35

The following table summarizes TB-PIUs activity under our share-based compensation plans for the nine months ended September 30, 2024:


	Number of TB-PIUs	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2023	194,415	$	25.76
Granted	127,795	$	24.57

Vested	(93,577)	$	25.63
Unvested as of September 30, 2024	228,633	$	25.15

Schedule of Payouts for Defined Performance under PB-PIUs

The number of earned awards following the end of the performance period will be determined based on the percentile rank of COPT Defense’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