XML 48 R36.htm IDEA: XBRL DOCUMENT
v3.22.0.1

STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
STOCKHOLDERS' EQUITY |
Schedule of fair value assumptions of TSR awards | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
TSR Award Year |  | Expected Life (yrs) |  | Dividend Rate |  | Risk-Free Interest Rate |  | Expected Price Volatility (a) |
2021 |  | 3 |  | 5.91% | ​ | 0.03% - 0.35% | ​ | 26.74% - 41.53% | ​
2020 |  | 3 |  | 10.40% | ​ | 0.10% - 0.18% | ​ | 51.24% - 77.92% | ​
2019 |  | 3 |  | 6.22% | ​ | 1.79% - 2.07% | ​ | 21.37% - 23.04% | ​
(a) | Calculated based on the historical and implied volatility.
Schedule of equity incentive plans | The following is a summary of the activity of the equity incentive plans:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2021 |  | 2020 |  | 2019
Restricted stock grants: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Number of shares | ​ | ​ | 151,500 | ​ | ​ | 149,550 | ​ | ​ | 150,050
Average per share grant price | ​ | $ | 20.34 | ​ | $ | 28.10 | ​ | $ | 25.70
Deferred compensation to be recognized over vesting period | ​ | $ | 3,082,000 | ​ | $ | 4,202,000 | ​ | $ | 3,856,000
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Number of non-vested shares: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-vested beginning of year | ​ | ​ | 701,675 | ​ | ​ | 674,250 | ​ | ​ | 651,250
Grants | ​ |  | 151,500 | ​ |  | 149,550 | ​ |  | 150,050
Vested during year | ​ |  | (145,725) | ​ |  | (122,125) | ​ |  | (114,650)
Forfeitures | ​ |  | (1,000) | ​ |  | — | ​ |  | (12,400)
Non-vested end of year | ​ |  | 706,450 | ​ |  | 701,675 | ​ |  | 674,250
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
RSU grants: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Number of underlying shares | ​ | ​ | 80,700 | ​ | ​ | 75,026 | ​ | ​ | 77,776
Average per share grant price | ​ | $ | 30.46 | ​ | $ | 17.31 | ​ | $ | 28.96
Deferred compensation to be recognized over vesting period | ​ | $ | 1,808,000 | ​ | $ | 850,000 | ​ | $ | 865,000
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Number of non-vested shares: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-vested beginning of year | ​ | ​ | 223,802 | ​ | ​ | 225,026 | ​ | ​ | 152,500
Grants | ​ | ​ | 80,700 | ​ | ​ | 75,026 | ​ | ​ | 77,776
Vested during year | ​ | ​ | (73,750) | ​ | ​ | (24,343) | ​ | ​ | —
Forfeitures | ​ | ​ | — | ​ | ​ | (51,907) | ​ | ​ | (5,250)
Non-vested end of year | ​ | ​ | 230,752 | ​ | ​ | 223,802 | ​ | ​ | 225,026
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Restricted stock and RSU grants (based on grant price): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average per share value of non-vested shares | ​ | $ | 25.04 | ​ | $ | 24.98 | ​ | $ | 24.96
Value of stock vested during the year | ​ | $ | 5,165,000 | ​ | $ | 3,589,000 | ​ | $ | 2,365,000
Weighted average per share value of shares forfeited during the year | ​ | $ | 24.62 | ​ | $ | 24.03 | ​ | $ | 25.40
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total charge to operations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding restricted stock grants | ​ | $ | 3,734,000 | ​ | $ | 3,529,000 | ​ | $ | 3,229,000
Outstanding RSUs | ​ | ​ | 1,699,000 | ​ | ​ | 1,157,000 | ​ | ​ | 641,000
Total charge to operations | ​ | $ | 5,433,000 | ​ | $ | 4,686,000 | ​ | $ | 3,870,000
Schedule of common stock dividend distributions | In each of 2021 and 2019, the Board of Directors declared an aggregate $1.80 per share in cash distributions. The following table details the Company’s dividend activity for the year ended December 31, 2020 (amounts in thousands, except per share data):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | Total |  | Dividend Paid |  | ​ | Cash |  | Stock | ​ | ​ | Value
Declaration Date (a) |  | ​ | Dividend |  | Cash % |  | Stock % |  | ​ | Distributed |  | Issued | ​ | ​ | per Share
March 13, 2020 | ​ | $ | 9,037 | ​ | 100.0 | ​ | — | ​ | $ | 9,037 | ​ | — | ​ | ​ | —
June 10, 2020 (b) | ​ | $ | 9,068 | ​ | 50.0 | ​ | 50.0 | ​ | $ | 4,537 | ​ | 263 | ​ | $ | 17.22
September 9, 2020 (b) | ​ | $ | 9,198 | ​ | 75.0 | ​ | 25.0 | ​ | $ | 6,901 | ​ | 141 | ​ | $ | 16.27
December 2, 2020 | ​ | $ | 9,261 | ​ | 100.0 | ​ | — | ​ | $ | 9,261 | ​ | — | ​ | ​ | —
(a) | A dividend of $0.45 per share was declared in each period indicated.
(b) | Stockholders were entitled to elect whether the dividend payable to them would be paid in cash or shares of the Company’s common stock at the percentages indicated, subject to certain limitations.

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of equity instruments other than stock options. + References No definition available. + Details
Name: | olp_ScheduleOfShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | olp_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
Name: | us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration