15.	Incentive Compensation

Stock Award Plan

EEI adopted the 1998 Stock Award Plan effective March 16, 1998. This plan, together with supplemental plans that were subsequently adopted by the Company’s Board of Directors, are referred to as the “Stock Award Plan”. The Stock Award Plan is not a qualified plan under Section 401(a) of the Internal Revenue Code. Under the Stock Award Plan, directors, officers and other key employees of EEI or any of its subsidiaries may be awarded Class A Common Stock as compensation for services rendered to the Company or its subsidiaries, based upon the fair market value of the common stock at the time of the award. The Stock Award Plan authorizes the Company’s Board of Directors to determine the vesting period and the circumstances under which the awards may be forfeited. In October 2016, the Company’s Board of Directors adopted the current supplemental plan, the 2016 Stock Award Plan. This plan permits awards of up to 200,000 shares of Class A Common Stock for a period of up to five years until its termination in October 2021.

During fiscal year 2019, EEI awarded a total of 15,767 shares of Class A Common Stock under the 2016 Stock Award Plan, valued at $0.2 million, under the following compensation arrangements:

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10,367 shares of Class A Common Stock valued at $0.1 million were awarded to certain Directors as a portion of their annual compensation. These shares will vest upon expiration of certain restrictions regarding transfer of the shares that expire in April 2020.

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3,400 shares of Class A Common Stock valued at less than $0.1 million were awarded to the Company’s Executive Chairman, Marshall Heinberg in accordance with the terms of a compensation agreement approved by the Board of Directors. These shares vested immediately upon issuance.

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2,000 shares of Class A Common Stock valued at less than $0.1 million were awarded to the Company’s former Chief Administrative Officer, in accordance with the terms of her compensation agreement. These shares vested immediately upon issuance.