v3.26.1
Share-Based Compensation
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
2026 Share-Based Compensation Grants

In February 2026, the Executive Compensation Committee of the Company’s Board of Directors awarded 653,346 restricted stock units (“RSUs”) to certain officers of the Company under the 2006 Plan, which included 387,503 RSUs (at target) that are subject to time, market, and/or performance-based vesting over a three-year performance period from January 1, 2026 through December 31, 2028, with cliff vesting in the first quarter of 2029, and 265,843 RSUs that are subject to time-based service vesting in three equal annual installments beginning in January 2027 through January 2029. During the three months ended March 31, 2026, the Board of Directors granted 6,448 RSUs to two newly elected Directors that are subject to time-based service vesting in two equal annual installments in February 2027 and February 2028. Each RSU granted is entitled to earn dividend equivalents in the form of RSUs that vest upon vesting of the underlying RSU award.

Share-Based Compensation Cost Recorded During the Period
The total compensation cost for all share-based compensation programs was $5.8 million and $5.2 million for the three months ended March 31, 2026 and 2025, respectively. Of the total share-based compensation costs, $0.9 million and $1.2 million was capitalized as part of real estate assets for the three months ended March 31, 2026 and 2025, respectively.