Notes to the Consolidated Financial Statements
Dollar amounts are in thousands of Canadian dollars (except share and per share amounts)
17 Share‑Based Compensation (continued)
Restricted Share Unit Plan
The Restricted Share Unit (“RSU”) Plan gives members of the senior executive team the right to receive a percentage of their annual bonus 
and non‑executive members of the board of directors the right to receive a percentage of their annual retainer, in the form of restricted 
shares in lieu of cash. The Compensation Committee has established the following parameters on the percentage of the annual bonus and 
annual retainer which may be allocated to Restricted Shares:
minimum Maximum
Non‑executive board members  ‑ %  100%
Chief Executive Officer and Chief Financial Officer  50%  50%
Other executives  25%  50%
Killam will match the elected amount in the form of r estricted shares having a value equal to the volume weighted average price of all 
common shares traded on the TSX for the five trading days immediately preceding the date on which the compensation is payable. The 
Restricted Shares earn notional dividends based on the same dividends paid on the common shares, and such notional dividends are used 
to acquire additional Restricted Shares. The initial Restricted Shares and Restricted Shares acquired through notional dividend reinvestment 
are credited to each person’s account and are not issued to the employee or board member until they redeem such Restricted Shares.
the r estricted shares will be redeemed and paid out by December 31 of the year in which the r estricted shares have vested.  the 
Restricted Shares shall vest with the following schedule; (a) 50% on the second anniversary of the grant date; and (b) 50% on the third 
anniversary of the grant date .
The details of the restricted share units issued under the RSU plan are shown below:
For the years ended December 31, 2013 2012
Number of 
Shares
Weighted 
Average 
Issue Price
 number of 
shares
Weighted 
a verage 
issue Price
Outstanding, beginning of year 100,209 $11.89 48,082        $10.96
Granted 50,070 11.90 49,265          12.84
r edeemed (50,090) 11.09 ‑          ‑
Forfeited (12,226) 11.78 ‑          ‑
Additional restricted share distributions 6,382 12.06 2,862          11.34
Outstanding, end of year 94,345 $12.34 100,209          $11.89
18. Home Sales
For the years ended December 31, 2013 2012
Home sales revenues $2,598 $2,241
cost of home sales (2,226) (1,789)
new home placement fees 17 98
Operating expenses (66) (81)
income from home sales $323 $469
19. Corporate Income
For the years ended December 31, 2013     2012
Property management fees $518 $363
interest and other revenue 228 599
$746 $962
Killam ProPerties inc | 2013 87