Annual report pursuant to Section 13 and 15(d)

Equity and Mezzanine Equity (Tables)

v3.10.0.1
Equity and Mezzanine Equity (Tables)
12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
As of December 31, 2018, 2017 and 2016, the below shares are able to be converted to Common Stock. The common units, convertible preferred stock, cumulative convertible preferred stock, and warrants have been excluded from the Company’s diluted earnings per share calculation because their inclusion would be antidilutive. In addition to the below, 750,000 shares of the Company's Common Stock may be issued upon exercise of a warrant, solely in the event of a default under a loan agreement in which we serve as a guarantor.

 
December 31, 2018
 
December 31, 2017
 
December 31, 2016
 
Outstanding shares
 
Potential Dilutive Shares
 
Outstanding shares
 
Potential Dilutive Shares
 
Outstanding shares
 
Potential Dilutive Shares
 
 
 
 
 
 
Common units
235,032

 
235,032

 
635,018

 
635,018

 
761,954

 
506,911

Series B Preferred Stock
1,875,748

 
1,172,343

 
1,875,848

 
1,172,405

 
1,871,244

 
1,169,528

Series D Preferred Stock
3,600,636

 
5,307,541

 
2,237,000

 
3,297,465

 
2,237,000

 
3,297,465

Warrants to purchase Common Stock
 
 
276,746

 
 
 
329,378

 
 
 
329,378

Senior Convertible Notes
 
 
 
 


 


 
2,509

 
2,509

Schedule of Dividends Declared
Dividends declared to holders of common units, common shares and preferred shares are as follows (in thousands):
 
 
Years Ended December 31,
 
 
2018
 
2017
 
2016
Common unit and common shareholders
 
$

 
$
13,477

 
$
15,328

Preferred shareholders
 
9,790

 
9,969

 
4,713

   Total
 
$
9,790

 
$
23,446

 
$
20,041


    
Dividends declared per share type are as follows:
 
Years Ended December 31,

2018
 
2017
 
2016
 
 
 
 
 
 
Dividends declared per common share
$

 
$
1.44

 
$
1.68

Dividends declared per Series A Preferred share
$
67.50

 
$
90.00

 
$
90.00

Dividends declared per Series B Preferred share
$
1.69

 
$
2.25

 
$
2.25

Dividends declared per Series D Preferred share
$
1.64

 
$
2.19

 
$
0.61

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]
On June 15, 2016, the Company's shareholders approved the 2016 Long-Term Incentive Plan (the "2016 Incentive Plan"). The 2016 Incentive Plan allows for issuance of up to 625,000 shares of the Company's Common Stock to employees, directors, officers and consultants for services rendered to the Company.
For the Years Ended December 31,
 
Shares Issued
 
Market Value
 
 
 
 
(in thousands)
2018
 
206,358

 
$
1,057

2017
 
99,527

 
1,261

2016
 
4,601

 
60

On June 4, 2015, the Company's shareholders approved the 2015 Long-Term Incentive Plan (the "2015 Incentive Plan"). The 2015 Incentive Plan allows for issuance of up to 125,000 shares of the Company's Common Stock to employees, directors, officers and consultants for services rendered to the Company. The 2015 Incentive Plan replaced the 2012 Stock Incentive Plan ("Stock Incentive Plan").
For the Years Ended December 31,
 
Shares Issued
 
Market Value
 
 
 
 
(in thousands)
2018
 

 
$

2017
 
11,464

 
155

2016
 
42,070

 
519