Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 73

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 16
Chunk 73
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 receive one common share when it vested. Restricted shares and restricted share units are included in common stock outstanding on the date of the vesting. The grant-date value of the restricted shares and restricted share units is amortized over the vesting period representing the requisite service period. Compensation expense associated with the restricted shares and restricted share units issued to the non-employee directors was $102, $88 and $74 in the aggregate, for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, the Company had $185 of unrecognized compensation expense related to the unvested restricted shares and restricted share units, in the aggregate. As of December 31, 2024, the weighted average remaining period that compensation expense related to unvested restricted shares will be recognized is 1.75 years. The total fair value at the vesting date for restricted shares and restricted share units that vested during the years ended December 31, 2024, 2023 and 2022 was $90, $90 and $80, respectively.A summary of the Company’s restricted share and restricted share unit activity during the years ended December 31, 2024, 2023 and 2022 is as follows: 

        RestrictedShares
         
        RestrictedShare Units

        Outstanding at December 31, 2021
         
        8,108

        252

        Granted (at grant date fair value of $20.20 per share)
         
        4,752

        4

        Vested
         
        (3,688
        )
         
        (256
        )

        Outstanding at December 31, 2022
         
        9,172

        —

        Granted (at grant date fair value of $19.86 per share)
         
        4,834

        —

        Vested
         
        (4,529
        )
         
        —

        Outstanding at December 31, 2023
         
        9,477

        —

        Granted (at grant date fair value of $19.17 per share)
         
        8,346

        —

        Vested
         
        (4,670
        )
         
        —

        Outstanding at December 31, 2024
         
        13,153

        —

NOTE 8 – INCOME TAX AND DISTRIBUTIONS