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Related Party Transactions
9 Months Ended
Sep. 30, 2016
Related Party Transactions  
Related Party Transactions

(15) Related Party Transactions

 

The Company issued 66,915 and 23,689 shares of common stock in lieu of director board and committee fees of approximately $129,000 and $90,000 pursuant to the Company’s director compensation program during the nine months ended September 30, 2016 and 2015, respectively. The number of shares issued was calculated based on the market closing price of the Company’s common stock on the issuance date.

See also Note 17, “Financing” and Note 18, “Subsequent Events” for additional information on related party transactions.