Shareholders' Deficit

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Shareholders’ Deficit

On March 14, 2014, the Company held a special meeting of stockholders at which our stockholders approved amending our Certificate of Incorporation to increase the number of authorized shares of Common Stock to 95.0 million and to allow certain investors involved in other financing transactions to own more than 19.99% of outstanding Common Stock.

In 2011, the Company designated one of its authorized shares of preferred stock as its Series A Voting Preferred Stock. The Series A Voting Preferred Stock has a $1 liquidation value and entitles the holder to elect two directors to the Company’s Board of Directors. The one share of Series A Voting Preferred Stock was issued to the IBT on July 22, 2011 in connection with the financial restructuring. The Series A Voting Preferred Stock was recorded at its liquidation value.

The following reflects the activity in the shares of our common stock for the years ended December 31:



Common Shares	2017	2016	2015
Beginning balance	32,473	32,141	30,667
Issuance of equity in exchange for debt	—	—	995
Issuance of equity awards, net	260	332	479
Ending balance	32,733	32,473	32,141

Our Term Loan agreement in place as of December 31, 2017, restricts the ability of YRC Worldwide to declare dividends on its outstanding capital stock.