Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation - Time-based vesting (Details)

v3.20.1
Stock-Based Compensation - Time-based vesting (Details) - shares
shares in Thousands
12 Months Ended
May 29, 2019
Mar. 05, 2019
Dec. 31, 2019
LTIP Units outstanding as of December 31, 2019     758
Long Term Incentives Plan Units [Member]      
LTIP units granted   28 42
Long Term Incentives Plan Units [Member] | Equity Incentive Plan 2016 [Member]      
LTIP units outstanding as of December 31, 2018     588
LTIP units redeemed in cash or forfeited [1]     (42)
LTIP Units outstanding as of December 31, 2019     758
Long Term Incentives Plan Units [Member] | 2018 Performance Program [Member]      
LTIP units granted [2]     108
Long Term Incentives Plan Units [Member] | Discretionary [Member]      
LTIP units granted [3]     28
Long Term Incentives Plan Units [Member] | 2019 Time Based      
LTIP units granted   54 54 [4]
Long Term Incentives Plan Units [Member] | Independent directors [Member]      
LTIP units granted 22   22 [5]
[1] The net decrease of 42 LTIP Units net represents 45 LTIP Units redeemed for the Company’s common stock and one LTIP Unit that was forfeited, partially offset by three LTIP Units that were granted on March 15, 2019 and one LTIP Unit granted on December 9, 2019, both related to new hires. The LTIP Units granted to the new hires vest in equal one-third increments from the date of grant.
[2] The 108 LTIP Units represents earned and granted units from the previously disclosed 2018 annual awards (the “Annual Awards”). On March 5, 2019 the Compensation Committee of the Board (the “Compensation Committee”) determined the extent to which the Company achieved the performance goals related to the 2018 Annual Awards and determined the number of LTIP Units that each grantee was entitled to receive. These grants vested 50% on March 5, 2019, the determination date, and 50% vest on March 5, 2020.
[3] The 28 LTIP Units represents a discretionary grant by the Board. These grants vested 50% on March 5, 2019, the grant date, and 50% vest on March 5, 2020.
[4] The 54 LTIP Units represent grants approved by the Board on March 5, 2019 pursuant to the Company’ 2019 Long-Term Incentive Plan. These grants are valued based on the Company’s common stock price on the date of grant of $10.07 and vest in equal one-third increments on each of March 5, 2020, March 5, 2021, and March 5, 2022.
[5] The 22 LTIP Units represent a grant to the independent directors of the Board made on May 29, 2019, which vest on May 29, 2020.