SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation expense, which is included in general and administrative (“G&A”) expenses in our consolidated and combined statements of income, is summarized as follows:



	Quarter Ended March 31,
(Amounts in thousands)	2016		2015
Share-based compensation expense components included in G&A:
Restricted share expense	$	233	$	9
Stock option expense	576		241
LTIP expense	183		7,143
Outperformance Plan (“OPP”) expense⁽¹⁾	305		48
Total Share-based compensation expense	$	1,297	$	7,441

⁽¹⁾OPP Expense for the quarter ended March 31, 2016 and March 31, 2015 includes $42,000 and $48,000, respectively, of unrecognized compensation expense of awards issued under Vornado’s OPP for UE employees who were previously Vornado employees. The remaining OPP unrecognized compensation expense was transferred from Vornado to UE as of the separation date and is amortized on a straight-line basis over the remaining life of the OPP awards issued.