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Equity (Tables) | 12 Months Ended
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Dec. 31, 2013
Equity |
Schedule of effect of changes in our ownership interest in the limited partnership on equity | The following table represents the effect of changes in our ownership interest in the limited partnership on equity attributable to LTC Properties, Inc. (in thousands):
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
Net income attributable to LTC Properties, Inc. |  | $ | 57,815 |  | $ | 51,290 |  | $ | 49,252 |
Transfers from the non-controlling interest |  |  |  |  |  |  |  |  |  |
Increase in paid-in capital for limited partners conversion |  |  | — |  |  | 396 |  |  | — |
Decrease in paid-in capital for limited partners conversion |  |  | — |  |  | (1,246 | ) |  | — |
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Change from net income attributable to LTC Properties, Inc. and transfers from non-controlling interest |  | $ | 57,815 |  | $ | 50,440 |  | $ | 49,252 |
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Schedule of cash dividends declared and paid | We declared and paid the following cash dividends(in thousands):
|  | Year Ended December 31, 2013 |  | Year ended December 31, 2012 |
--- | --- | --- | --- | --- | ---
|  | Declared |  | Paid |  | Declared |  | Paid |
Preferred Stock Series C |  | $ | 3,273 |  | $ | 3,273 |  | $ | 3,273 |  | $ | 3,273 |
Common Stock |  |  | 63,631 | (1) |  | 63,631 | (1) |  | 54,512 | (2) |  | 54,512 | (2)
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Total |  | $ | 66,904 |  | $ | 66,904 |  | $ | 57,785 |  | $ | 57,785 |
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(1) Represents $0.155 per share per month for January through September 2013 and $0.17 per share per month for October through December 2013 (2) Represents $0.145 per share per month for January through July of 2012 and $0.155 per share per month for August through December of 2012.
Schedule of restricted stock granted |
Year |  | No. of Shares |  | Price per Share |  | Vesting Period
--- | --- | --- | --- | --- | --- | ---
2013: |  |  |  |  |  |  |  |
|  |  | 8,400 |  | $ | 46.54 |  | ratably over 3 years
|  |  | 6,000 |  | $ | 41.83 |  | ratably over 3 years
|  |  | 20,000 |  | $ | 36.26 |  | June 1, 2016
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 34,400 |  |  |  |  |
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2012: |  |  |  |  |  |  |  |
|  |  | 14,000 |  | $ | 31.77 |  | ratably over 5 years
|  |  | 12,200 |  | $ | 31.77 |  | January 10, 2016
|  |  | 30,000 |  | $ | 31.77 |  | June 15, 2015
|  |  | 8,000 |  | $ | 31.87 |  | ratably over 3 years
|  |  | 6,300 |  | $ | 34.90 |  | ratably over 5 years
|  |  | 20,000 |  | $ | 34.90 |  | December 20, 2015
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  | 90,500 |  |  |  |  |
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Schedule of restricted stock activity |
|  | 2013 |  | 2012 |
--- | --- | --- | --- | --- | ---
Outstanding, January 1 |  |  | 195,449 |  |  | 165,134 |
Granted |  |  | 34,400 |  |  | 90,500 |
Vested |  |  | (64,700 | ) |  | (60,185 | )
Canceled |  |  | — |  |  | — |
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Outstanding, December 31 |  |  | 165,149 |  |  | 195,449 |
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Compensation expense for the year(1) |  | $ | 2,591,000 |  | $ | 1,809,000 |
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(1) During 2013, we recorded $457,000 of compensation expense related to the accelerated vesting of 18,180 shares of restricted common stock due to the retirement of our former Senior Vice President, Marketing and Strategic Planning. At December 31, 2013, the total compensation cost related to unvested restricted stock granted is $3,818,000, which will be recognized ratably over the remaining vesting period.
Schedule of nonqualified stock option activity |
|  | Shares |  | Weighted Average Price |
--- | --- | --- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Outstanding, January 1 |  |  | 95,334 |  |  | 180,334 |  | $ | 23.93 |  | $ | 23.33 |
Granted |  |  | — |  |  | — |  | $ | — |  | $ | — |
Exercised |  |  | (22,000 | ) |  | (85,000 | ) | $ | 23.79 |  | $ | 22.66 |
Canceled |  |  | — |  |  | — |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding, December 31 |  |  | 73,334 |  |  | 95,334 |  | $ | 23.97 |  | $ | 23.93 |
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Exercisable, December 31(1) |  |  | 73,334 |  |  | 95,334 |  | $ | 23.97 |  | $ | 23.93 |
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(1) The aggregate intrinsic value of exercisable options at December 31, 2013, based upon the closing price of our common shares at December 31, 2013 the last trading day of 2013, amounted to approximately $838,000. Options exercisable at December 31, 2013 have a weighted average remaining contractual life of approximately 3 years.
Schedule of options exercised |
|  | Options Exercised |  | Weighted Average Exercise Price |  | Option Value |  | Market Value(1) |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
2013 |  |  | 22,000 |  | $ | 23.79 |  | $ | 523,000 |  | $ | 865,000 |
2012 |  |  | 85,000 |  | $ | 22.66 |  | $ | 1,926,000 |  | $ | 2,761,000 |
(1) As of the exercise dates.

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