Share-Based Compensation

3 Months Ended

Mar. 31, 2016

Note 9. Share-Based Compensation

The following tables set forth certain share-based compensation information for the three months ended March 31, 2016 and 2015, respectively:


	Three months ended March 31,
	2016		2015
Expense relating to share grants	$ 567,000	(a)	$ 823,000
Amounts capitalized	(57,000)		(19,000)
Total charged to operations	$ 510,000		$ 804,000

(a) Net of an expense reduction of $267,000 relating to a forfeiture of restricted shares in connection with an employment termination.

The Company’s 2012 Stock Incentive Plan (the “2012 Plan”) establishes the procedures for the granting of, among other things, restricted stock awards. During the three months ended March 31, 2016, there were 491,000 restricted shares issued, with a weighted average grant date fair value of $6.87 per share. At March 31, 2016, 1.1 million shares remained available for grants pursuant to the 2012 Plan.