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From the Global Basketball Directory:
The Plus / Minus Share Rate is a stat formula designed to measure how much a player is responsible for the team's overall + / -, and its name derives from Bill James Win Shares.

The name of this stat derives from Bill James' Win Shares. The purpose of this stat is to measure how much a player is responsible for the team's overall + / -. The stat is designed so that the sum of every player's + / - Share Rate times Possessions Played should add up to the team's overall + / -. The credit each player get is based on how much a player improves or worsens his team's net points. We determine this by subtracting the team's Plus/Minus while the player is on court from the team's Plus/Minus while the player is off the court. Before subtracting, we multiply the Offcourt Plus/Minus by 0,8 0r 4/5 to account the fact that when a players subs in, he is joining four teammates, and not five. At times, this stat may be unreliable for various reasons. Every player plays in a different context. A player's + / - may be better or worse based on the teammates and opponents that he is on the court with. The system or strategy that a player's coach employs can also affect the player's + / -. It is not clear yet how large a sample size is required before + / - stats in Basketball become reliable but there are indications that it may turn out to be more than a season.

The Formula:
Oncourt Plus/Minus - 0,8 * Offcourt Plus Minus

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