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Share-Based Compensation and Other Compensation Matters (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Reporting for Share-Based Compensation Cost

The table below sets forth our reporting for share based compensation cost (in thousands):

						For the Years Ended December 31,
						2024						2023						2022
General, administrative, leasing and other expenses						$	9,031					$	7,255					$	7,643
Property operating expenses						1,412						1,289						1,147
Capitalized to development activities						525						576						847
Share-based compensation cost						$	10,968					$	9,120					$	9,637

Schedule of Restricted Share and TB-PIU Activity

The following table summarizes restricted shares activity under our share-based compensation plan for 2022, 2023 and 2024:

						Shares						Weighted Average Grant Date Fair Value
Unvested as of December 31, 2021						334,573						$	26.22
Granted						186,515						$	26.50
Forfeited						(43,420)						$	26.47
Vested						(152,585)						$	26.39
Unvested as of December 31, 2022						325,083						$	26.27
Granted						220,336						$	25.38
Forfeited						(39,474)						$	26.03
Vested						(152,490)						$	26.09
Unvested as of December 31, 2023						353,455						$	25.82
Granted						184,477						$	25.58
Forfeited						(25,152)						$	26.20
Vested						(159,766)						$	25.85
Unvested as of December 31, 2024						353,014						$	25.65
Unvested shares as of December 31, 2024 that are expected to vest						315,582						$	25.61

The following table summarizes TB-PIUs activity under our share-based compensation plan for 2022, 2023 and 2024:

						Number of TB-PIUs						Weighted Average Grant Date Fair Value
Unvested as of December 31, 2021						163,073						$	25.99
Granted						101,966						$	26.39
Vested						(77,709)						$	26.04
Unvested as of December 31, 2022						187,330						$	26.19
Granted						123,900						$	25.40
Forfeited						(27,182)						$	26.46
Vested						(89,633)						$	25.95
Unvested as of December 31, 2023						194,415						$	25.76
Granted						127,795						$	24.57
Vested						(98,271)						$	25.63
Unvested as of December 31, 2024						223,939						$	25.14
Unvested TB-PIUs as of December 31, 2024 that are expected to vest						222,554						$	25.14

Schedule of PB-PIU's Granted

We made the following grants of PB-PIUs to senior management team members from 2020 through 2024 (dollars in thousands, except per share data):

Grant Date						Number of PB-PIUs Granted																		Grant Date Fair Value						Number of PB-PIUs Outstanding as of December 31, 2024
1/1/2020						176,758																		$	2,891					—
1/1/2021						227,544																		$	3,417					—
1/1/2022						231,838																		$	3,810					192,996
1/1/2023						275,402																		$	4,343					225,590
1/1/2024						299,766																		$	5,405					299,766

Schedule of Payouts for Defined Performance Under PB-PIU

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 Awards 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

Schedule of Assumptions Used in Monte Carlo Models for PB-PIUs

The grant date fair value and certain of the assumptions used in the Monte Carlo models for the PB-PIUs granted in 2022, 2023 and 2024 are set forth below:

Grant Date						Grant Date Fair Value Per PB-PIU at Target-Level Award						Baseline Common Share Value						Expected Volatility of Common Shares						Risk-free Interest Rate
1/1/2022						$	32.87					$	27.97					31.7		%				0.98		%
1/1/2023						$	31.54					$	25.94					35.0		%				4.28		%
1/1/2024						$	36.06					$	25.63					25.9		%				4.13		%

Schedule of Deferred Shares Granted

We made the following grants of deferred share awards to non-employee Trustees in 2022, 2023 and 2024 (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 Award
2022						6,771						$	166					$	24.50
2023						9,046						$	215					$	23.75
2024						8,796						$	217					$	24.66

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