Related Party Transactions

9 Months Ended

Sep. 30, 2017

Related Party Transactions

Related Party Transactions

(16) Related Party Transactions

The Company issued 66,954 and 66,915 shares of common stock during the nine months ended September 30, 2017 and 2016, respectively, in lieu of director board and committee fees of $0.1 million for each nine-month period, pursuant to the Company’s director compensation program. The number of shares issued was calculated based on the market closing price of the Company’s common stock on the issuance date.

Subsequent to September 30, 2017, entities affiliated with a related party exercised common stock warrants as more fully described in Note 18. Additionally, subsequent to September 30, 2017, entities affiliated with a related party participated in an underwritten public offering of shares of the Company’s common stock as more fully described in Note 18. See Notes 9(d), 14 and 15 to the financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 for further discussion of related parties.