| Schedule of activity of shares |
The following table summarizes activity for compensatory LTIP units for the years ended December 31, 2015 and 2014 and the nine months ended December 31, 2013:
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Year Ended December 31, |
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Nine Months Ended December 31, |
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2015 |
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2014 |
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2013 |
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Number of LTIP units |
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Weighted Average Grant-Date Fair Value |
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Number of LTIP units |
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Weighted Average Grant-Date Fair Value |
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Number of LTIP units |
|
Weighted Average Grant-Date Fair Value |
Outstanding unvested at beginning of year |
509,166 |
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$ |
10.07 |
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287,600 |
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$ |
9.28 |
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|
— |
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$ |
— |
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Granted |
6,000 |
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13.00 |
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378,550 |
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10.37 |
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406,600 |
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9.28 |
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Vested |
(278,901 |
) |
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9.84 |
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(156,984 |
) |
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9.35 |
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(119,000 |
) |
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9.28 |
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Unvested at end of year |
236,265 |
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$ |
10.41 |
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509,166 |
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$ |
10.07 |
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287,600 |
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$ |
9.28 |
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The following table presents the number of units issued and units vested for acquisition grants for the years ended December 31, 2015 and 2014 and the nine months ended December 31, 2013:
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Total LTIP units |
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Units issued on December 31, 2013 |
1,683,560 |
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Units vested upon issuance in 2013 related to: |
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Properties contributed or sourced by PROs |
(314,410 |
) |
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Contributions by NSA Predecessor(1)
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(107,080 |
) |
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Total unvested units, December 31, 2013 |
1,262,070 |
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Units vested in 2014 related to: |
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Properties contributed or sourced by PROs(2)
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(379,970 |
) |
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Contributions by NSA Predecessor(1)
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(359,200 |
) |
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Total unvested units, December 31, 2014 |
522,900 |
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Units vested in 2015 related to: |
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Properties contributed or sourced by PROs(2)
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(99,100 |
) |
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Total unvested units, December 31, 2015 |
423,800 |
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(3) |
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(1) |
The contribution of self storage properties by NSA Predecessor was accounted for as a reorganization of entities under common control and, accordingly, no value was recognized in the Company's financial statements for these LTIP units. |
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(2) |
The aggregate fair value of vested LTIP units associated with self storage properties contributed or sourced by PROs represents consideration for the self storage property acquisitions set forth in Note 6. |
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(3) |
As of December 31, 2015, the remaining unvested LTIP units will vest as additional self storage properties are contributed or sourced by the PROs. The fair value of such LTIP units will be recorded as additional acquisition consideration based on the fair value in the period such acquisitions are completed.
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| Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] |
The following table summarizes activity for restricted common shares for the year ended December 31, 2015:
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Year Ended December 31, |
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2015 |
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Number of Restricted Common Shares |
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Weighted Average Grant-Date Fair Value |
Outstanding at beginning of year |
— |
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$ |
— |
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Granted |
17,210 |
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12.40 |
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Vested |
(6,000 |
) |
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12.40 |
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Forfeited |
(210 |
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12.40 |
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Unvested at end of year |
11,000 |
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$ |
12.40 |
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