Stock Compensation for ROIC

9 Months Ended

Sep. 30, 2016

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

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, 2016, ROIC awarded 350,614 shares of restricted common stock under the 2009 Plan, of which 121,150 shares are performance-based grants and the remainder of the shares are time-based grants. The performance-based grants vest based on pre-defined market-specific performance criteria with a vesting date on January 1, 2019.

A summary of the status of ROIC’s non-vested restricted stock awards as of September 30, 2016, and changes during the nine months ended September 30, 2016 are presented below:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2015	627,471		$	14.39
Granted	350,614		$	15.96
Vested	(306,545	)	$	14.01
Canceled	(7,332	)	$	17.62
Non-vested at September 30, 2016	664,208		$	15.36

For the three months ended September 30, 2016 and 2015, the amounts charged to expenses for all stock-based compensation arrangements totaled approximately $1.1 million and $1.3 million, respectively. For the nine months ended September 30, 2016 and 2015, the amounts charged to expenses for all stock-based compensation arrangements totaled approximately $3.6 million and $3.5 million, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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