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	December 31, 2016	December 31, 2015		December 31, 2016		December 31, 2015
March 30, 2016	7,500	$	21.11	2 years	50% /year	3,750	-	$	79	$	-
March 27, 2015	7,238	$	25.88	2 years	50% /year	7,238	3,762		-		90
Total	14,738					10,988	3,762	$	79	$	90

*Original share price on date of grant prior to June 22, 2015 was multiplied by four to account for the reverse share split which occurred on June 22, 2015. See “Note 1 – Basis of Presentation” for more information.

Summary Of Unvested Share Awards Issued To Trustees


				Shares Vested		Unearned Compensation
Original Issuance Date	Shares Issued	Vesting Period	Vesting Schedule	December 31, 2016	December 31, 2015		December 31, 2016		December 31, 2015
December 30, 2016	5,000	3 years	33% /year	-	-	$	108	$	-
March 30, 2016	2,500	3 years	33% /year	835	-		35		-
December 30, 2014	2,500	3 years	33% /year	1,670	835		24		48
December 27, 2013	3,000	3 years	33% /year	3,000	2,170		-		19
				5,505	3,005	$	167	$	67

Summary Of Unvested Share Awards Issued To Executives


				Units Vested		Unearned Compensation
Compensation Committee Approval Date	LTIP Units Issued	LTIP Issuance Date	Performance Period	December 31, 2016	December 31, 2015		December 31, 2016		December 31, 2015
March 17, 2016
(2016 Multi-Year EIP)	-	N/A	1/1/2016 to 12/31/2018	-	-	$	888	$	-
March 18, 2015
(2015 Multi-Year EIP)	-	N/A	1/1/2015 to 12/31/2017	-	-		397		596
April 11, 2014
(2014 Multi-Year EIP)	-	N/A	1/1/2014 to 12/31/2016	-	-		283		567
April 15, 2013
(2013 Multi-Year EIP)	110,849	3/30/2016	1/1/2013 to 12/31/2015	110,849	-		-		385
	110,849			110,849	-	$	1,568	$	1,548

Summary Of Unvested Share Awards Issued To Executives


				Units Vested		Unearned Compensation
Issuance Date	LTIP Units Issued	Vesting Period	Vesting Schedule	December 31, 2016	December 31, 2015		December 31, 2016		December 31, 2015
March 30, 2016
(2015 Annual EIP)	183,396	3 years	25%/year (1)	91,696	-	$	868	$	-
March 30, 2015
(2014 Annual EIP)	128,832	3 years	25%/year (1)	96,623	64,415		225		758
December 23, 2014
(2013 Annual EIP) (3)	83,993	3 years	25%/year (1)	83,993	55,994		-		173
December 23, 2014 (3)	258,899	5 years	33% Year 3, 4, 5 (2)	172,599	86,299		457		1,553
	655,120			444,911	206,708	$	1,550	$	2,484

(1)

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

(2)

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 258,899 restricted common shares to the executives pursuant to the 2012 Plan, which were subsequently forfeited and replaced with LTIP Units. One-third of each award of LTIP Units vested or will vest on each of the third, fourth and fifth anniversaries of the original 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 employment agreements).

(3)

On December 23, 2014, the 2012 Plan was amended and restated to add LTIP Units as a type of award available under the 2012 Plan. On this date, the Compensation Committee approved an aggregate of 487,081 LTIP Units to certain executive officers. These executive officers forfeited an aggregate of 487,081 Class A Common Shares, all of which were unvested as of the grant date of the LTIP Units and previously awarded to the executive officers under the 2012 Plan as restricted stock awards. These LTIP Units are subject to the same time-based vesting conditions that applied to the forfeited restricted stock awards.

Summary Of Unvested Share Awards Issued To Executives


						Shares Vested			Unearned Compensation
Original Year of Issuance Date	Original Shares Issued		Range of Share Price on Date of Grant*	Vesting Period	Vesting Schedule	December 31, 2016	December 31, 2015		December 31, 2016		December 31, 2015
2016	30,070	$	18.02-21.11	2 years	50% /year	497	-	$	348	$	-
2015	23,492		21.76-28.09	2-4 years	25-50% /year	13,733	600		157		419
2014	11,455		26.00-27.00	2 years	50% /year	11,455	6,619		-		54
2013	11,899		22.56	2-4 years	25-50% /year	11,899	11,199		-		7
2012	13,646		21.12	2-4 years	25-50% /year	13,646	12,445		-		11
Total	90,562					51,230	30,863	$	505	$	491

*Original share price on date of grants prior to June 22, 2015 were multiplied by four to account for the reverse share split which occurred on June 22, 2015. See “Note 1 – Basis of Presentation” for more information.

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		December 31, 2016		December 31, 2015
December 30, 2016	4,395	$	21.50	12 months	100%	$	94	$	-
March 30, 2016	5,289		21.11	9 months	100%		-		-

Total	9,684					$	94	$	-