v3.25.4
Share-Based and Other Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
2022, 2021 and 2020 Performance-Based RSUs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Valuation Assumptions The following table summarizes the estimated number of RSUs earned for the 2025 and 2024 Performance-
Based RSUs and the actual number of RSUs earned for the 2023 Performance-Based RSUs and the assumptions utilized in the Monte Carlo simulation pricing models:
2025
2024
2023
Service vesting periodFebruary 14, 2025 - January, 2028February 1, 2024 - January, 2027February 6, 2023 - January, 2026
Performance measurement period
January 1, 2025 - December 31, 2027
January 1, 2024 - December 31, 2026
January 1, 2023 - December 31, 2025
Target RSUs granted308,671265,205300,007
Estimated RSUs earned net of forfeitures (1)
472,942474,214729,890
Fair Value Assumptions:
Valuation dateFebruary 14, 2025February 1, 2024February 6, 2023
Fair value on valuation date (in millions)$11.3$9.5$12.0
Weighted average fair value per share
$36.49$35.66$39.95
Expected share price volatility38.0 %34.0 %35.0 %
Risk-free interest rate4.35 %3.98 %4.12 %
_____________________
(1)Estimated RSUs earned for the 2025 and 2024 Performance-Based RSUs are based on the actual achievement of the applicable FFO Performance Condition and estimated achievement of the Net Debt to EBITDA Ratio Performance Condition and the TSR Condition. The 2023 Performance-Based RSUs earned are based on actual achievement of the FFO Performance Condition, the Net Debt to EBITDA Ratio Performance Condition, and the TSR Condition upon completion of the performance measurement period at December 31, 2025.
Market measure-based Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Award Activity
A summary of our Performance-Based RSUs activity from January 1, 2025 through December 31, 2025 is presented below:
Nonvested RSUsVested RSUsTotal RSUs
Amount
Weighted-Average
Grant-Date
Fair Value
Per Share
Outstanding at January 1, 2025 (1)
926,695 $42.26 81,274 1,007,969 
Granted308,671 36.49 — 308,671 
Performance award achievement adjustment (2)
294,387 36.51 — 294,387 
Vested(183,474)62.93 183,474 — 
Settled
— — (137,016)(137,016)
Issuance of dividend equivalents (3)
91,948 35.87 7,352 99,300 
Forfeited
(44,116)37.24 — (44,116)
Outstanding as of December 31, 2025 (4)
1,394,111 $37.11 135,084 1,529,195 
____________________
(1)Effective 2025, management updated the presentation of the opening balance to reflect the performance adjustment related to Net Debt to EBITDA Ratio Performance Condition and the TSR Condition.
(2)Represents performance adjustments above target based on the actual achievement for 2023 awards and estimated achievement for 2024 and 2025 awards.
(3)Represents the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreements.
(4)Outstanding nonvested RSUs as of December 31, 2025 represent the actual achievement of the 2023 Performance-Based RSUs and the estimated achievement of 2024 and 2025 Performance-Based RSUs as of December 31, 2025. Dividend equivalents earned will vest along with the underlying award and are also subject to changes based on the number of RSUs ultimately earned for each underlying award.

A summary of our Performance-Based RSUs activity for the years ended December 31, 2025, 2024, and 2023 is presented below:
RSUs GrantedRSUs Vested
Years ended December 31,
Non-Vested
RSUs Granted
Weighted-Average
Fair Value
Per Share		Vested RSUsTotal Vest-Date
Fair Value
(in thousands)
2025
308,671 $36.49 190,826 $7,016 
2024
265,205 $35.66 1,089,879 $38,364 
2023
300,007 $39.95 290,570 $11,105 
Time-Based Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Units Award Activity
A summary of our Time-Based RSUs activity from January 1, 2025 through December 31, 2025 is presented below:
Nonvested RSUsVested RSUsTotal RSUs
Amount
Weighted Average
Grant-Date Fair Value Per Share
Outstanding at January 1, 2025
537,426 $36.37 242,685 780,111 
Granted258,356 34.66 — 258,356 
Vested(313,893)40.85 313,893 — 
Settled
——(347,900)(347,900)
Issuance of dividend equivalents (1)
27,154 35.87 18,668 45,822 
Forfeited(25,401)35.81 — (25,401)
Outstanding as of December 31, 2025
483,642 $35.37 227,346 710,988 
____________________
(1)Represents the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreements.

A summary of our Time-Based RSUs activity for the years ended December 31, 2025, 2024, and 2023 is presented below:
RSUs GrantedRSUs Vested
Year ended December 31,Non-Vested
RSUs Issued
Weighted-Average Grant Date Fair Value Per Share
Vested RSUs
Total Vest-Date
Fair Value (1)
(in thousands)
2025258,356 $34.66 332,561 $12,236 
2024385,718 $36.12 281,168 $10,878 
2023247,017 $38.12 343,334 $12,425 
____________________
(1)    Total fair value of RSUs vested was calculated based on the quoted closing share price of the Company’s common stock on the NYSE on the day of vesting. Excludes the issuance of dividend equivalents earned on the underlying RSUs. The dividend equivalents vest based on terms specified under the related RSU award agreement.