Members’/Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

The table below summarizes the following cash distributions declared to common shareholders and unitholders during the periods presented below:


Quarter Ended	Per Share/Unit Distribution(1)		Total Distribution
			(In millions)
2022
December 31, 2022	$	0.34	$	6.7
September 30, 2022	$	0.31	$	6.2
June 30, 2022	$	0.31	$	6.2
March 31, 2022	$	0.31	$	6.2

2021
December 31, 2021	$	0.31	$	6.2
September 30, 2021	$	0.28	$	5.5
June 30, 2021	$	—	$	—
March 31, 2021(2)	$	0.29	$	8.8

2020
December 31, 2020	$	0.30	$	3.8

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(1)Per unit amounts for dividends declared before the Closing Date of the Merger have been effected by giving adjustment to the 1-for-12 reverse stock split and exchange ratio of 97.796467.

(2)On February 4, 2021, the Board of Managers of REP LLC declared a $3.8 million cash dividend, paid on February 5, 2021. On March 4, 2021, the Board of Directors of the Company declared a cash dividend of $0.28 per share or $5.0 million total, paid on May 7, 2021.

Restricted Stock, Activity

The following table presents the Company's restricted stock activity during the year ended December 31, 2022 under the 2021 LTIP:


2021 Long-Term Incentive Plan
	Restricted Shares	Weighted Average Grant Date Fair Value(1)
Unvested at December 31, 2021	366,789	$	19.41
Granted	367,420	$	17.63
Vested	(192,899)	$	19.25
Forfeited	(5,101)	$	23.46
Unvested at December 31, 2022	536,209	$	18.39

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(1) For the three months ended December 31, 2021, the Company granted 174,575 restricted shares at a weighted average grant date fair value of $23.46. For the year ended September 30, 2021, the Company granted 397,739 restricted shares at a weighted average grant date fair value of $21.16.