v3.26.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Expense
We recorded compensation expense for Performance LTIP units and LTIP units as presented in the table below (in thousands):
Year Ended December 31,
TypeLine Item202520242023
Performance LTIP unitsAdvisory services fee$(348)$926 $783 
LTIP unitsAdvisory services fee— 86 435 
LTIP unitsCorporate, general and administrative— 4 15 
LTIP units - independent directorsCorporate, general and administrative— 135 475 
$(348)$1,151 $1,708 
The following table summarizes the stock-based compensation expense (in thousands):
Year Ended December 31,
Line Item202520242023
Advisory services fee$113 $266 $1,446 
Management fees— — 10 
Corporate, general and administrative— 11 89 
Corporate, general and administrative - independent directors— 54 170 
Corporate, general and administrative - Stirling OP
13 92 — 
$126 $423 $1,715 
The following table summarizes the compensation expense (in thousands):
Year Ended December 31,
Line Item202520242023
Advisory services fee$(539)$523 $604 
Schedule of Restricted Stock Unit Activity
A summary of our restricted stock activity is as follows (shares in thousands):
Year Ended December 31,
202520242023
UnitsWeighted Average Price at GrantUnitsWeighted Average Price at GrantUnitsWeighted Average Price at Grant
Outstanding at beginning of year51 $6.00 5 $261.73 12 $206.34 
Restricted stock granted— — 56 6.55 4 40.10 
Restricted stock vested(17)6.00 (10)149.84 (11)230.60 
Outstanding at end of year34 $6.00 51 $6.00 5 $261.73 
Schedule of PSU Activity
A summary of our PSU activity is as follows (shares in thousands):
Year Ended December 31,
202520242023
UnitsWeighted Average Price at GrantUnitsWeighted Average Price at GrantUnitsWeighted Average Price at Grant
Outstanding at beginning of year16 $49.27 19 $78.05 14 $290.41 
PSUs granted— — — — 16 36.80 
PSUs vested(3)49.27 (2)56.40 (8)297.00 
PSUs canceled(13)49.27 (1)56.40 (3)297.00 
Outstanding at end of year— $— 16 $49.27 19 $78.05