| Summary of Common Shares Outstanding |
The following table summarizes issuance, repurchase, and other activity with respect to the Company's common stock for the years ended December 31, 2020 and 2019: | | | | | | | | | | | | | | | | | Year Ended | | | December 31, 2020 | | December 31, 2019 | Shares of Common Stock Outstanding (12/31/2019 and 1/1/2019, respectively) | | 38,647,943 | | | 29,796,601 | | | Share Activity: | | | | | | Shares of common stock issued | | 5,290,000 | | | 8,855,000 | | | Shares of common stock issued in connection with incentive fee payment | | 637 | | | — | | | Shares of common stock repurchased | | (290,050) | | | (50,825) | | | OP LTIP Units exercised | | — | | | 13,092 | | | OP Units exercised | | 133,154 | | | 34,075 | | Shares of Common Stock Outstanding (12/31/2020 and 12/31/2019, respectively) | | 43,781,684 | | | 38,647,943 | |
The following table summarizes issuance, repurchase, and other activity with respect to the Company's common shares for the year ended December 31, 2018: | | | | | | | | | | | Year Ended
December 31, 2018 | | Common Shares Outstanding (December 31, 2017) | | 31,335,938 | | | Share Activity: | | | | Shares repurchased | | (1,547,148) | |
| | | | | | | | | | Director LTIP Units exercised | | 3,334 | | | Shares issued in connection with incentive fee payment | | 4,477 | | Common Shares Outstanding (December 31, 2018) | | 29,796,601 | |
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