Note 7 - Stock Compensation for ROIC

3 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

7.   Stock Compensation for ROIC

ROIC follows the FASB guidance related to stock compensation which establishes financial accounting and reporting standards for stock-based employee compensation plans, including all arrangements by which employees receive shares of stock or other equity instruments of the employer, or the employer incurs liabilities to employees in amounts based on the price of the employer's stock.  The guidance also defines a fair value-based method of accounting for an employee stock option or similar equity instrument.

In 2009, ROIC adopted the 2009 Plan.  The 2009 Plan provides for grants of restricted common stock and stock option awards up to an aggregate of 7.5% of the issued and outstanding shares of ROIC’s common stock at the time of the award, subject to a ceiling of 4,000,000 shares.

Restricted Stock

During the six months ended June 30, 2013, ROIC awarded 218,500 shares of restricted common stock under the 2009 Plan, of which 86,250 shares are performance-based grants and the remainder of the shares are time based grants.  The performance-based grants vest in three equal annual tranches, based on pre-defined market-specific performance criteria with vesting dates on January 1, 2014, 2015 and 2016.

A summary of the status of ROIC's non-vested restricted stock awards as of June 30, 2013, and changes during the six months ended June 30, 2013 are presented below:

	Shares			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2012		391,264		$	10.48
Granted		218,500		$	11.76
Vested		(83,164	)	$	10.62
Non-vested at  June 30, 2013		526,600		$	11.27

For the three months ended June 30, 2013 and 2012, the amounts charged to expenses for all stock-based compensation arrangements totaled approximately $750,000 and $858,000, respectively.  The amounts charged to expenses for all stock-based compensation arrangements totaled approximately $1.3 million for the six months ended both June 30, 2013 and 2012.