Shareholders' Equity

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Share Awards

On February 27, 2019, in connection with the election of three of our Trustees we granted each Trustee 3,000 of our common shares, valued at $29.95 per share, the closing price of our common shares on Nasdaq on that day.

On May 29, 2019, in accordance with our Trustee compensation arrangements, we granted 3,000 of our common shares, valued at $23.97 per share, the closing price of our common shares on Nasdaq on that day, to each of our eight Trustees as part of their annual compensation.

On September 18, 2019, we granted an aggregate of 103,100 of our common shares, valued at $29.87 per share, the closing price of our common shares on Nasdaq on that day, to our officers and certain other employees of RMR LLC under our equity compensation plan.

Share Purchases

On April 5, 2019, we purchased 1,795 of our common shares valued at $28.96 per share, the closing price of our common shares on Nasdaq on that day, from a former officer of RMR LLC in satisfaction of tax withholding and payment obligations in connection with the vesting of awards of our common shares.

On May 29, 2019, we purchased 450 of our common shares valued at $23.97 per share, the closing price of our common shares on Nasdaq on that day, from one of our Trustees in satisfaction of tax withholding and payment obligations in connection with an award of our common shares.

On July 3, 2019, we purchased 1,779 of our common shares valued at $27.73 per share, the closing price of our common shares on Nasdaq on that day, from a former officer in satisfaction of tax withholding and payment obligations in connection with the vesting of awards of our common shares.

On September 25, 2019, we purchased an aggregate of 11,433 of our common shares, valued at $30.41 per share, the closing price of our common shares on Nasdaq on that day, from our officers and certain other employees of RMR LLC in satisfaction of tax withholding and payment obligations in connection with the vesting of awards of our common shares.

Distributions

On February 21, 2019, we paid a regular quarterly distribution to common shareholders of record on January 28, 2019 of $0.55 per share, or $26,445. On May 16, 2019, we paid a regular quarterly distribution to common shareholders of record on April 29, 2019 of $0.55 per share, or $26,450. On August 15, 2019, we paid a regular quarterly distribution to common shareholders of record on July 29, 2019 of $0.55 per share, or $26,461. On October 17, 2019, we declared a regular quarterly distribution to common shareholders of record on October 28, 2019 of $0.55 per share, or approximately $26,500. We expect to pay this distribution on or about November 14, 2019.

Cumulative Other Comprehensive Income (Loss)

Cumulative other comprehensive income (loss) represents our share of the comprehensive income (loss) of Affiliates Insurance Company, an Indiana insurance company, or AIC. See Note 11 for further information regarding this investment.