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Subsequent Events | 12 Months Ended
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Dec. 31, 2015
Subsequent Events [Abstract] |
Subsequent Events |
19. | Subsequent Events
Asset Sales From January 1, 2016 to February 24, 2016, the Company sold 16 operating assets, including 11 owned by one joint venture, and two non-operating assets for an aggregate sales price of $218.7 million at the Company’s share. Award Plan On February 9, 2016, the Company adopted the 2016 Value Sharing Equity Program (the “2016 VSEP”), with awards effective February 9, 2016. The 2016 VSEP awards, if earned, may result in the granting of common shares of the Company and time-vested restricted stock units (“RSUs”) to participants on future measurement dates over three years, subject to an additional time-based vesting schedule. As a result, in general, the total compensation available to participants under the 2016 VSEP, if any, will be fully earned only after approximately seven years (the three-year performance period and the final four-year time-based vesting period for RSUs). The 2016 VSEP is designed to permit the Company to reward participants for helping the Company achieve certain financial performance by allowing them to share in value created (i.e. the increase in the Company’s market capitalization), as adjusted for equity issuances and/or equity repurchases, based upon increases in the Company’s adjusted market capitalization on certain measurement dates over the Company’s initial market capitalization using a starting share price of $17.41 per share, over pre-established periods of time. The ending share price used for purposes of determining the value created for the performance awards during any measurement period is capped at $25.35 per share. Because the Company’s initial market capitalization is based upon a share price of $17.41 per share, there are no performance awards earned until the Company’s share price exceeds this price.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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