v3.25.3
Noncontrolling Interest (Tables)
9 Months Ended
Sep. 30, 2025
Noncontrolling Interest [Abstract]  
Schedule of Issued and Outstanding Common Shares
The following table presents the changes in Equity Commonwealth’s issued and outstanding common shares and units from January 1, 2025 through June 13, 2025, prior to EQC’s dissolution:
Common SharesOP Units and LTIP Units(1)Total
Outstanding at January 1, 2025
107,335,177 148,103 107,483,280 
Repurchase and surrender of shares
(510,000)— (510,000)
OP Unit redemption52,549 (52,549)— 
Share-based compensation grants and vesting, net of forfeitures
873,406 59,024 932,430 
Outstanding at June 13, 2025
107,751,132 154,578 107,905,710 
Noncontrolling ownership interest in the Operating Trust0.14 %
(1) The 101,634 LTIP Units outstanding as of June 13, 2025 did not participate in any Company liquidating distributions. The noncontrolling ownership interest in the Operating Trust that participated in liquidating distributions as of June 13, 2025 is 0.05%.
Schedule of Issued and Outstanding Units
The following table presents the changes in Equity Commonwealth’s issued and outstanding common shares and units from January 1, 2025 through June 13, 2025, prior to EQC’s dissolution:
Common SharesOP Units and LTIP Units(1)Total
Outstanding at January 1, 2025
107,335,177 148,103 107,483,280 
Repurchase and surrender of shares
(510,000)— (510,000)
OP Unit redemption52,549 (52,549)— 
Share-based compensation grants and vesting, net of forfeitures
873,406 59,024 932,430 
Outstanding at June 13, 2025
107,751,132 154,578 107,905,710 
Noncontrolling ownership interest in the Operating Trust0.14 %
(1) The 101,634 LTIP Units outstanding as of June 13, 2025 did not participate in any Company liquidating distributions. The noncontrolling ownership interest in the Operating Trust that participated in liquidating distributions as of June 13, 2025 is 0.05%.
The table below presents a summary of restricted share, RSU and LTIP Unit activity for the year ended September 30, 2025 and December 31, 2024:
 Number
of
Restricted Shares and Time-Based LTIP Units
Weighted
Average
Grant Date
Fair Value
Number
of
RSUs and Market-Based LTIP Units
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2023
330,591 $26.32 2,038,776 $14.74 
Granted179,454 19.35 719,326 10.86 
Vested(115,265)26.74 (391,932)15.47 
Not earned(1)
— — (231,988)15.19 
Forfeited— — — — 
Outstanding at December 31, 2024
394,780 $23.03 2,134,182 $13.24 
Granted— — — — 
Vested(394,780)23.03 (932,430)13.24 
Not earned(1)
— — (1,201,752)13.12 
Forfeited— — — — 
Outstanding at September 30, 2025
— $— — $— 
(1) The table presents the maximum number of shares issued or issuable from outstanding equity awards. RSUs and market-based LTIP Units not earned are the shares market-based award recipients do not receive based on the performance measurement completed at the end of the performance period.