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Shareholders' Equity
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders' Equity
We have common shares available for issuance under the terms of our equity compensation plan adopted in 2012, as amended, or the 2012 Plan. During the years ended December 31, 2021, 2020 and 2019, we awarded to our officers and other employees of RMR LLC annual share awards of 718,000, 360,000 and 187,500 of our common shares, respectively, valued at $2,448, $1,357 and $1,633, in aggregate, respectively. In accordance with our Trustee compensation arrangements, we also awarded each of our then Trustees 20,000 common shares with an aggregate value of $444 ($74 per Trustee), 10,000 common shares with an aggregate value of $176 ($29 per Trustee) and 3,000 common shares with an aggregate value of $119 ($24 per Trustee) in 2021, 2020 and 2019, respectively. The values of the share awards were based upon the closing price of our common shares trading on The Nasdaq Stock Market LLC, or Nasdaq, on the dates of awards. The common shares awarded to our Trustees vested immediately. The common shares awarded to our officers and certain other employees of RMR LLC vest in five equal annual installments beginning on the date of award. We include the value of awarded shares in general and administrative expenses in our consolidated statements of comprehensive income (loss) ratably over the vesting period. At December 31, 2021, 1,117,201 of our common shares remain available for issuance under the 2012 Plan.
A summary of shares awarded, forfeited, vested and unvested under the terms of the 2012 Plan from January 1, 2019 to December 31, 2021 is as follows:
 Number of SharesWeighted Average
Award Date
Fair Value
Unvested shares at December 31, 2018161,990 $19.41 
Shares awarded in 2019202,500 $8.65 
Shares vested / forfeited in 2019(137,150)$8.94 
Unvested shares at December 31, 2019227,340 $12.52 
Shares awarded in 2020420,000 $3.65 
Shares vested / forfeited in 2020(212,790)$7.04 
Unvested shares at December 31, 2020434,550 $6.15 
Shares awarded in 2021838,000 $3.45 
Shares vested / forfeited in 2021(426,930)$4.98 
Unvested shares at December 31, 2021845,620 $4.07 
The 845,620 unvested shares as of December 31, 2021 are scheduled to vest as follows: 253,520 shares in 2022, 239,700 shares in 2023, 208,800 shares in 2024 and 143,600 shares in 2025. As of December 31, 2021, the estimated future compensation for the unvested shares was $3,116 based on the adjusted award date fair value of these shares. At December 31, 2021, the weighted average period over which the compensation expense will be recorded is approximately 2.0 years. We recorded share based compensation expense of $1,960 in 2021, $1,568 in 2020 and $1,388 in 2019. We recognize forfeitures as they occur.
During 2021, 2020 and 2019, we purchased an aggregate of 109,384, 47,375 and 31,747, respectively, of our common shares from our officers and certain current and former officers and employees of RMR LLC in satisfaction of tax withholding and payment obligations in connection with the vesting of awards of our common shares. See Note 8 for further information regarding these purchases.
A summary of cash distributions paid to common shareholders, for federal income tax purposes, as are follows for the periods presented:
Annual PerCharacterization of Distribution
ShareTotalOrdinaryCapitalReturn of
YearDistributionDistributionIncomeGainCapital
2021$0.04 $9,540 — %100.0 %— %
2020$0.18 $42,825 — %— %100.0 %
2019$0.84 $199,719 — %25.7 %74.3 %
On January 13, 2022, we declared a quarterly distribution to common shareholders of record on January 24, 2022 of $0.01 per share, or approximately $2,390 in aggregate. We paid this distribution on February 17, 2022, using cash on hand.
As described in Note 6, pursuant to the 2020 Restructuring Transaction, on January 1, 2020, AlerisLife issued an aggregate of 16,118,849 common shares, with an aggregate value of $59,801, to our shareholders of record as of December 13, 2019. We recorded this issuance as a non-cash distribution in our consolidated financial statements.