XML 32 R23.htm IDEA: XBRL DOCUMENT v3.22.2.2
Stock Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Awards A summary of our restricted stock awards from January 1, 2022 to September 30, 2022 is as follows:
Number of
Shares
Weighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 20221,443,295 $9.46 
Granted438,070 9.55 
Vested(265,965)9.54 
Forfeited(250,261)9.43 
Unvested balance at September 30, 20221,365,139 $9.48 
Schedule of Fair Value Assumptions The determination of the grant-date fair values of outstanding awards included the following assumptions:
Award Grant DateVolatilityRisk-Free RateTotal Stockholder Return PSUsHotel Market Share PSUs
February 22, 202271.4 %1.74 %$9.84 $9.56 
August 9, 202273.3 %3.20 %$9.65 $9.32 
Schedule of Nonvested Performance-based Units Activity
A summary of our PSUs from January 1, 2022 to September 30, 2022 is as follows:
Number of
Target Units
Weighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 2022969,240 $9.45 
Granted407,570 9.66 
Vested (1)
(269,224)10.14 
Forfeited(160,533)9.34 
Unvested balance at September 30, 2022947,053 $9.36 
______________________
(1)The number of shares of common stock earned for the PSUs vested in 2022 was equal to 100.0% of the PSU Target Award.
Schedule of LTIP Units
A summary of our LTIP units from January 1, 2022 to September 30, 2022 is as follows:
Number of UnitsWeighted-
Average Grant
Date Fair
Value
Unvested balance at January 1, 2022135,388 $10.22 
Granted71,084 9.32 
Vested (1)
(108,422)10.38 
Unvested balance at September 30, 202298,050 $9.39 
______________________
(1)As of September 30, 2022, all vested LTIP units have achieved economic parity with common OP units and have been converted to common OP units.