Note 7 - Stock Compensation for ROIC

9 Months Ended

Sep. 30, 2015

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

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 nine months ended September 30, 2015, ROIC awarded 343,070 shares of restricted common stock under the 2009 Plan, of which 117,275 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, 2016, 2017 and 2018.

A summary of the status of ROIC’s non-vested restricted stock awards as of September 30, 2015, and changes during the nine months ended September 30, 2015 are presented below:

	Shares			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2014		559,358		$	11.51
Granted		343,070		$	15.58
Vested		(257,175	)	$	12.09
Cancelled		(2,832	)	$	15.88
Non-vested at  September 30, 2015		642,421		$	14.34

For the three months ended September 30, 2015 and 2014, the amounts charged to expenses for all stock-based compensation arrangements totaled approximately $1.3 million and $984,000, respectively. For the nine months ended September 30, 2015 and 2014, the amounts charged to expenses for all stock-based compensation arrangements totaled approximately $3.5 million and $2.7 million, respectively.