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Share Based Payments (Tables)
9 Months Ended
Sep. 30, 2014
Summary Of Unvested Share Awards Issued To Nonemployees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares Vested

 

 

Unearned Compensation

Original Issuance Date

 

Shares Issued

 

 

Share Price on Date of Grant

 

Vesting Period

 

Vesting Schedule

 

September 30, 2014

 

December 31, 2013

 

 

September 30, 2014

 

 

December 31, 2013

March 24, 2014

 

30,000 

 

$

5.69 

 

2 years

 

50% /year

 

15,000 

 

 -

 

$

83 

 

$

 -

February 1, 2013

 

30,000 

 

$

5.41 

 

2 years

 

50% /year

 

30,000 

 

14,999 

 

 

 -

 

 

81 

Total

 

60,000 

 

 

 

 

 

 

 

 

45,000 

 

14,999 

 

$

83 

 

$

81 

 

Annual LTIP Plans [Member]
 
Summary Of Unvested Share Awards Issued To Executives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares Vested

 

Unearned Compensation

Original Issuance Date

 

Shares Issued

 

 

Share Price on date of grant

 

Vesting Period

 

Vesting Schedule

 

September 30, 2014

 

December 31, 2013

 

 

September 30, 2014

 

 

December 31, 2013

March 21, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2013 Annual LTIP)

 

447,959 

 

$

5.80 

 

3 years

 

25%/year (1)

 

111,988 

 

 -

 

$

778 

 

$

 -

March 20, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2012 Annual LTIP)

 

779,045 

 

$

5.95 

 

3 years

 

25%/year (1)

 

389,520 

 

389,520 

 

 

492 

 

 

1,039 

March 26, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2011 Annual LTIP)

 

748,927 

 

$

5.45 

 

3 years

 

25%/year (1)

 

561,694 

 

561,694 

 

 

66 

 

 

266 

 

 

 

 

 

 

 

 

 

 

 

1,063,202 

 

951,214 

 

$

1,336 

 

$

1,305 

 

(1)

25% of the issued shares vested immediately upon issuance.  In general, the remaining shares vest 25% on the first through third anniversaries of the end of the performance period (subject to continuous employment through the applicable vesting date).

Restricted Share Awards [Member]
 
Summary Of Unvested Share Awards Issued To Executives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares Vested

 

 

Unearned Compensation

Original Issuance Date

 

Shares Issued

 

 

Share Price on Date of Grant

 

Vesting Period

 

Vesting Schedule

 

September 30, 2014

 

December 31, 2013

 

 

September 30, 2014

 

 

December 31, 2013

July 15, 2014

 

52,077 

 

 

6.75 

 

2 years

 

50% /year

 

 -

 

 -

 

 

293 

 

 

 -

June 23, 2014

 

4,411 

 

 

6.50 

 

2 years

 

50% /year

 

 -

 

 -

 

 

24 

 

 

 -

March 24, 2014

 

8,184 

 

 

5.69 

 

2 years

 

50% /year

 

4,091 

 

 -

 

 

16 

 

 

 -

February 13, 2014

 

1,846 

 

 

5.44 

 

2 years

 

50% /year

 

923 

 

 -

 

 

 

 

 -

September 20, 2013

 

4,605 

 

 

5.52 

 

2-4 years

 

25-50% /year

 

4,605 

 

 -

 

 

 -

 

 

19 

June 28, 2013

 

48,600 

 

 

5.64 

 

2-4 years

 

25-50% /year

 

22,895 

 

 -

 

 

101 

 

 

199 

June 29, 2012

 

52,703 

 

 

5.28 

 

2-4 years

 

25-50% /year

 

44,967 

 

22,480 

 

 

51 

 

 

110 

April 18, 2012

 

1,035,595 

 

 

5.47 

 

5 years

 

33% Year 3, 4, 5 (1)

 

 -

 

 -

 

 

2,924 

 

 

3,746 

June 30, 2011

 

17,692 

 

 

5.57 

 

2-4 years

 

25-50% /year

 

13,804 

 

9,919 

 

 

13 

 

 

28 

Total

 

1,225,713 

 

 

 

 

 

 

 

 

91,285 

 

32,399 

 

$

3,425 

 

$

4,102 

 

(1)

On April 18, 2012, the Company entered into amended and restated employment agreements with the Company’s executive officers.  To induce the executives to agree to the substantial reduction in benefits upon certain terminations following a change of control as described in the agreements, the Company awarded an aggregate of 1,035,595 restricted common shares to the executives pursuant to the 2012 Plan.  None of these restricted common shares will vest prior to the third anniversary of the date of issuance.  Thereafter, 33.3% of each award of restricted common shares will vest on each of the third, fourth and fifth anniversaries of the date of issuance.  Vesting will accelerate upon a change of control or if the relevant executive’s employment with the Company were to terminate for any reason other than for cause (as defined in the agreements).

Annual Retainer [Member]
 
Summary Of Unvested Share Awards Issued To Trustees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unearned Compensation

Original Issuance Date

 

Shares Issued

 

 

Share Price on Date of Grant

 

Vesting Period

 

Vesting Schedule

 

 

September 30, 2014

 

 

December 31, 2013

December 27, 2013

 

39,133 

 

$

5.63 

 

1 year

 

100%

 

$

55 

 

$

220 

 

Multi-year LTIP Trustee [Member]
 
Summary Of Unvested Share Awards Issued To Trustees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares Vested

 

Unearned Compensation

Original Issuance Date

 

Shares Issued

 

 

Vesting Period

 

Vesting Schedule

 

September 30, 2014

 

December 31, 2013

 

 

September 30, 2014

 

 

December 31, 2013

December 27, 2013

 

12,000 

 

 

3 years

 

33% /year

 

 -

 

 -

 

$

51 

 

$

67 

December 28, 2012

 

12,000 

 

 

3 years

 

33% /year

 

4,002 

 

4,002 

 

 

25 

 

 

39 

June 5, 2012

 

10,800 

 

 

3 years

 

33% /year

 

7,200 

 

7,200 

 

 

 

 

18 

 

 

 

 

 

 

 

 

 

11,202 

 

11,202 

 

$

80 

 

$

124