XML 43 R28.htm IDEA: XBRL DOCUMENT v3.6.0.2
Severance
12 Months Ended
Dec. 31, 2016
Restructuring and Related Activities [Abstract]  
Severance
Severance

In the first quarter of 2016, by mutual agreement, Thomas Macphee resigned as Chief Executive Officer and as a member of the Company's Board of Directors. In addition, Stan Howell resigned as the Company’s President, which was effective on April 30, 2016. According to the terms of their respective separation agreements, the Company expensed $1.3 million for the twelve months ended December 31, 2016. These amounts, which do not include stock compensation expense, were recorded in selling, general and administrative expense in the condensed consolidated and combined statement of operations. The Company expects to pay these amounts within twelve months following the departure dates of each of these former employees.

Effective September 26, 2016, Margaret M. Loebl, former Chief Financial Officer, left the Company in order to pursue other professional interests. The Company incurred expense of $1.2 million for the twelve months ended December 31, 2016, in accordance with her separation agreement. This amount, which does not include stock compensation expense, was recorded in selling, general and administrative expense in the condensed consolidated and combined statement of operations. The Company expects to pay this amount within twelve months following her departure date.

The Company incurred additional severance expense of $0.7 million for non-executive employees for the twelve months ended December 31, 2016.