Annual report pursuant to Section 13 and 15(d)

EQUITY TRANSACTIONS

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EQUITY TRANSACTIONS
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
EQUITY TRANSACTIONS

NOTE 13. EQUITY TRANSACTIONS

Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to ten votes per share, except for specified related party transactions. Holders of Class A common stock and Class B common stock vote together as a single class on all matters submitted to a vote of stockholders, except that holders of Class A common stock vote separately for two independent directors.

The following table shows distributions that have been declared and paid since January 1, 2012:

 

Announcement Date

   

Payment Date

    Amount Per Share      Cash Distributed
(in thousands) 		 

November 20, 2013

    December 27, 2013    $ 0.0550       $ 1,376   

September 12, 2013

    October 4, 2013    $ 0.0525         1,308   

May 30, 2013

    June 28, 2013    $ 0.0500         1,240   

March 18, 2013

    April 1, 2013    $ 0.0500         1,234   

November 29, 2012

    December 28, 2012    $ 0.0350         854   

August 30, 2012

    September 28, 2012    $ 0.0350         854   

May 31, 2012

    June 21, 2012    $ 0.0350         854   

March 7, 2012

    March 30, 2012    $ 0.0350         850   

We account for stock-based compensation expense in accordance with FASB ASC Topic 718 “Compensation—Stock Expense.” As a result, $1.0 million, $1.4 million and $1.8 million of non-cash stock-based compensation expense has been recorded to additional paid-in capital for the year ended December 31, 2011, 2012, and 2013, respectively.