Notes to the Consolidated Financial Statements
Dollar amounts are in thousands of Canadian dollars (except share and per share amounts)
16. Capital Stock and Contributed Surplus (continued)
Dividend Reinvestment Plan
Killam’s Dividend r einvestment Plan (“DriP”) allows common shareholders to elect to have all cash dividends from Killam reinvested in 
additional common shares.  Shareholders who participate in the DRIP receive an additional dividend of common shares equal to 3% of 
each cash dividend that was reinvested.  the price per share is calculated by reference to a ten day volume weighted average closing price 
of Killam’s common shares on the Toronto Stock Exchange preceding the relevant dividend date, which typically is on or about the 15th day 
of the month following the dividend declaration.
Contributed Surplus
   2013   2012
Balance, beginning of year $2,241 $2,251
Stock options expensed 44 116
Stock options exercised (111) (589)
r estricted share units issued 580 463
r estricted share units redeemed (452) ‑
$2,302 $2,241
17 Share‑Based Compensation
For the years ended December 31, 2013 2012
Stock option plan $44 $116
r estricted share unit plan 421 463
Total share based compensation expense  $465   $579
Killam did not issue stock options during 2013 or 2012.
Options exercised or forfeited during the years ended December 31 are as follows:
   2013          2012
Number of 
Shares
Weighted Average 
Exercise Price
number of 
shares
Weighted a verage 
Exercise Price
Outstanding, beginning of year 694,756 $7.40 1,180,766 $7.49
Exercised (144,349) 6.40 (471,593) 7.65
Forfeited ‑        ‑     (14,417) 7.00
Outstanding, end of year 550,407 $7.66 694,756 $7.40
The following table summarizes the stock options outstanding:
As at December 31, 2013      December 31, 2012
Exercise 
Price
Number 
of Options 
Outstanding
Remaining 
Contractual 
Life
Options 
Exercisable
number 
of Options 
outstanding
r emaining 
contractual 
life
Options 
Exercisable
$5.32 97,500 0.35 years 97,500 186,749  1.35 years 155,502
$8.11 ‑ ‑ ‑ 1,250  0.10 years 1,208
$8.16 452,907 1.40 years 399,783 506,757  2.4 years 326,366
550,407 497,283 694,756   483,076
The exercisable options had a weighted average exercise price of $7.60 at December 31, 2013 (December 31, 2012 ‑ $7.25).
86 Killam ProPerties inc | 2013