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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Key Components of OPP Plan
The following table outlines key components of the 2021 PSU Plan:

Operational Performance UnitRelative TSR Performance Unit
Maximum bonus pool, in millions$6.7$6.7
Performance period1/1/2021 to 12/31/20211/1/2021 to 12/31/2023

The following table outlines key components of the 2020 PSU Plan:

Operational Performance UnitRelative TSR Performance Unit
Maximum bonus pool, in millions$14.9$14.9
Performance period1/1/2020 to 12/31/20201/1/2020 to 12/31/2022
The following table outlines key components of the 2019 OPP Plans:
2019 OPP Plan
Maximum bonus pool, in millions$28.0
Performance period1/1/2019 to 12/31/2021
Schedule of Valuation Assumptions
The per unit fair value of the 2021 and 2020 PSU awards granted was estimated on the date of grant using the following assumptions in the Monte Carlo simulation:
20212020
Expected price volatility for the Company41.00%17.00%
Expected price volatility for the particular REIT index31.00%14.00%
Risk-free rate0.17%1.66%
Dividend yield3.50%2.80%
The per unit fair value of OPP awards granted was estimated on the date of grant using the following assumptions in the Monte Carlo simulation:
2019
Expected price volatility for the Company 22.00%
Expected price volatility for the particular REIT index18.00%
Risk-free rate2.57%
Dividend yield3.00%
The per unit fair value of one-time retention awards granted was estimated on the date of grant using the following assumptions in the Monte Carlo simulation:
Assumptions
Expected price volatility for the Company23.00%
Expected price volatility for the particular REIT index18.00%
Risk-free rate1.63%
Dividend yield3.20%
Summary of Activity and Status of Unvested Stock Awards The following table summarizes the activity and status of all unvested stock awards:
202120202019
SharesWeighted-Average Grant-Date Fair ValueSharesWeighted-Average Grant-Date Fair ValueSharesWeighted-Average Grant-Date Fair Value
Unvested at January 1442,645 $27.44 459,784 $33.67 703,796 $32.93 
Granted276,800 23.90 404,779 24.70 247,521 35.50 
Vested(203,329)28.33 (420,970)31.61 (470,019)32.88 
Canceled(8,582)26.21 (948)29.91 (21,514)34.16 
Unvested at December 31507,534 $25.17 442,645 $27.44 459,784 $33.67 
Summary of Activity and Status of Unvested Performance Units The following table summarizes the activity and status of all unvested time-based restricted operating partnership performance units:
202120202019
UnitsWeighted-Average Grant-Date Fair ValueUnitsWeighted-Average Grant-Date Fair ValueUnitsWeighted-Average Grant-Date Fair Value
Unvested at January 1771,432 $27.08 608,679 $32.70 318,549 $28.41 
Granted355,551 24.68 571,978 23.49 481,215 35.74 
Vested(349,804)29.85 (409,225)30.42 (191,085)30.37 
Canceled(95,785)23.49 — — — — 
Unvested at December 31681,394 $24.91 771,432 $27.08 608,679 $32.70 
Stock-Based Compensation Related to Company's Awards
The following table presents the classification and amount recognized for stock-based compensation related to the Company’s awards:    
For the Year Ended December 31,
202120202019
Expensed stock compensation(1)
$21,163 $22,723 $19,481 
Capitalized stock compensation(2)
3,524 3,306 951 
Total stock compensation(3)
$24,687 $26,029 $20,432 
_________________
1.Amounts are recorded in general and administrative expenses on the Consolidated Statements of Operations.
2.Amounts are recorded in investment in real estate, at cost on the Consolidated Balance Sheets.
3.Amounts are recorded in additional paid-in capital and non-controlling interest—units in the operating partnership on the Consolidated Balance Sheets.