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SHARE-BASED COMPENSATION | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
SHARE-BASED COMPENSATION | SHARE-BASED COMPENSATION Elme Communities maintains short-term and long-term incentive plans that allow for stock-based awards to officers and non-officer employees. Stock based awards are provided to officers and non-officer employees, as well as trustees, under the Elme Communities 2016 Omnibus Incentive Plan, as amended and restated effective May 30, 2024 (the “Omnibus Incentive Plan”). An amendment and restatement of the Omnibus Incentive Plan was approved by our board of trustees in April 2024 and approved by our shareholders in May 2024 to, among other changes, increase the number of shares available to be issued by 2,900,000, from 2,400,000 shares to 5,300,000 shares (including shares issued pursuant to awards made under the Omnibus Incentive Plan prior to its amendment). The Omnibus Incentive Plan allows for awards in the form of restricted shares, restricted share units, options and other awards up to an aggregate of 5,300,000 shares over the ten-year period in which the plan is in effect. Restricted share units are converted into shares of our stock upon full vesting through the issuance of new shares. Total Compensation Expense Total compensation expense recognized in the consolidated financial statements for all outstanding share-based awards was $1.7 million and $1.6 million for the 2025 Quarter and 2024 Quarter, respectively, and $4.8 million and $3.7 million for the 2025 Period and 2024 Period, respectively. Restricted Share Awards The total fair values of restricted share awards vested was $1.2 million and $1.0 million for the 2025 Period and 2024 Period, respectively. The total unvested restricted share awards at September 30, 2025 was 461,080 shares, which had a weighted average grant date fair value of $15.82 per share. As of September 30, 2025, the total compensation cost related to unvested restricted share awards was $3.9 million, which we expect to recognize over a weighted average period of 19 months.

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