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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Expense

We recorded compensation expense for Performance LTIP units and LTIP units as presented in the table below (in thousands):

												Year Ended December 31,
Type						Line Item						2024						2023						2022
Performance LTIP units						Advisory services fee						$	926					$	783					$	1,158
LTIP units						Advisory services fee						86						435						569
LTIP units						Corporate, general and administrative						4						15						32
LTIP units - independent directors						Corporate, general and administrative						135						475						413
												$	1,151					$	1,708					$	2,172

The following table summarizes the stock-based compensation expense (in thousands):

						Year Ended December 31,
Line Item						2024						2023						2022
Advisory services fee						$	266					$	1,446					$	2,509
Management fees						—						10						56
Corporate, general and administrative						11						89						163
Corporate, general and administrative - independent directors						54						170						90
Corporate, general and administrative - Stirling OP						92						—						—
						$	423					$	1,715					$	2,818

The following table summarizes the compensation expense (in thousands):

						Year Ended December 31,
Line Item						2024						2023						2022
Advisory services fee						$	523					$	604					$	1,008

Summary of Restricted Stock Unit Activity

A summary of our restricted stock activity is as follows (shares in thousands):

			Year Ended December 31,
			2024												2023												2022
			Units						Weighted Average Price at Grant						Units						Weighted Average Price at Grant						Units						Weighted Average Price at Grant
Outstanding at beginning of year			5						$	261.73					12						$	206.34					23						$	307.60
Restricted stock granted			56						6.55						4						40.10						2						55.90
Restricted stock vested			(10)						149.84						(11)						230.60						(13)						367.00
Outstanding at end of year			51						$	6.00					5						$	261.73					12						$	206.34

Summary of PSU Activity

A summary of our PSU activity is as follows (shares in thousands):

			Year Ended December 31,
			2024												2023												2022
			Units						Weighted Average Price at Grant						Units						Weighted Average Price at Grant						Units						Weighted Average Price at Grant
Outstanding at beginning of year			19						$	78.05					14						$	290.41					14						$	348.10
PSUs granted			—						—						16						36.80						3						120.90
PSUs vested			(2)						56.40						(8)						297.00						(3)						297.00
PSUs canceled			(1)						56.40						(3)						297.00						—						800.00
Outstanding at end of year			16						$	49.27					19						$	78.05					14						$	290.41

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- References

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- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance shares.

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-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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