Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.20.2
Equity and Mezzanine Equity (Tables)
9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Schedule of changes in carrying value of Series D Preferred
The changes in the carrying value of the Series D Preferred for the three and nine months ended September 30, 2020 and 2019 are as follows (in thousands, unaudited):
Series D Preferred
(unaudited)
Balance December 31, 2019 $ 87,225 
   Accretion of Preferred Stock discount 148 
   Undeclared dividends 2,419 
Balance March 31, 2020 89,792 
   Accretion of Preferred Stock discount 149 
   Undeclared dividends 2,419 
Balance June 30, 2020 92,360 
   Accretion of Preferred Stock discount 147 
   Undeclared dividends 2,372 
   Redemption of Preferred Stock (1,833)
Balance September 30, 2020 $ 93,046 
Series D Preferred
(unaudited)
Balance December 31, 2018 $ 76,955 
   Accretion of Preferred Stock discount 148 
   Undeclared dividends 2,419 
Balance March 31, 2019 79,522 
   Accretion of Preferred Stock discount 149 
   Undeclared dividends 2,419 
Balance June 30, 2019 82,090 
   Accretion of Preferred Stock discount 148 
   Undeclared dividends 2,419 
Balance September 30, 2019 $ 84,657 
Schedule of potentially dilutive shares
As of September 30, 2020, the below shares are able to be converted to Common Stock. The common units, convertible preferred stock and cumulative convertible preferred stock have been excluded from the Company’s diluted earnings per share calculation because their inclusion would be antidilutive.
September 30, 2020
Outstanding shares Potential Dilutive Shares
(unaudited)
Common units 228,842  228,842 
Series B Preferred Stock 1,875,748  1,172,343 
Series D Preferred Stock 3,529,293  5,202,378 
Schedule of summary of preferred stock dividends
The following table summarizes the preferred stock dividends (unaudited, in thousands except for per share amounts):
    
Series A Preferred Series B Preferred Series D Preferred
Record Date/Arrears Date Arrears Per Share Arrears Per Share Arrears Per Share
For the three months ended September 30, 2020 $ 13  22.50  $ 1,056  0.56  $ 2,372  0.67 
For the nine months ended September 30, 2020 $ 39  67.50  $ 3,166  1.69  $ 7,210  2.01 
For the three months ended September 30, 2019 $ 13  22.50  $ 1,056  0.56  $ 2,419  0.67 
For the nine months ended September 30, 2019 $ 39  67.50  $ 3,166  1.69  $ 7,257  2.01 
Schedule of shares issued under 2016 Long-Term Incentive Plan
2016 Long-Term Incentive Plan

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 Nine Months Ended September 30, Shares Issued Market Value
(in thousands except for share amounts, unaudited)
2019 181,807 166

As of September 30, 2020, there are 132,707 shares available for issuance under the Company’s 2016 Incentive Plan. There were no shares issued during the three and nine months ended September 30, 2020.