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) 17 Share‑Based Compensation 86 Killam ProPerties inc | 2013 Dividend Reinvestment Plan Contributed Surplus The exercisable options had a weighted average exercise price of $7.60 at December 31, 2013 (December 31, 2012 ‑ $7.25). The following table summarizes the stock options outstanding: Options exercised or forfeited during the years ended December 31 are as follows: Killam did not issue stock options during 2013 or 2012. Killam’s Dividend reinvestment 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. 2013 2012 Balance, beginning of year $2,241 $2,251 Stock options expensed 44 116 Stock options exercised (111) (589) restricted share units issued 580 463 restricted share units redeemed (452) ‑ $2,302 $2,241 For the years ended December 31, 2013 2012 Stock option plan $44 $116 restricted share unit plan 421 463 Total share based compensation expense  $465 $579 2013 2012 Number of  Shares Weighted Average  Exercise Price number of  shares Weighted average  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 As at December 31, 2013 December 31, 2012 Exercise  Price Number  of Options  Outstanding Remaining  Contractual  Life Options  Exercisable number  of Options  outstanding remaining  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