Note 18 - Series A Convertible Preferred Stock	12 Months Ended
Dec. 31, 2015
Notes to Financial Statements
Preferred Stock [Text Block]	N ote 18 – Redemption of the Series A Convertible Preferred Stock On October 31, 2007, NHC issued $170,555,000 of NHC Series A Convertible Preferred Stock (the "Preferred Stock") with a liquidation preference of $15.75. Each share of the Preferred Stock was entitled to annual preferred dividends of $0.80 per share. On November 3, 2015, the Series A Convertible Preferred Stock was redeemed for cash at a redemption price of $15.75 per share, plus an accrued dividend of $0.04 per share, for a total of $15.79 per share. There were 8,288,098 shares of Preferred Stock redeemed under the mandatory redemption for approximately $130,538,000. As of November 3, 2015, the Preferred Stock is no longer deemed outstanding, and all rights with respect to such stock ceased and terminated, except for the right of the holders to receive payment of the redemption price, without interest. The funding of the Preferred Stock redemption was provided by the Company's cash on hand and borrowings under the credit facility of approximately $110,000,000. In lieu of redemption, the holders of the Preferred Stock could have converted any or all of their shares into shares of the Company's common stock. The holders electing to convert their Preferred Shares received 0.24204 shares of common stock for each Preferred Share, together with the cash payable with respect to fractional shares. There were 2,548 , 561 shares of preferred stock that were converted into 616 , 757 shares of the Company's common stock during the 2015 year.

ote

18 – Redemption of the

Series

A Convertible

Preferred Stock

On October 31, 2007, NHC issued $170,555,000 of NHC Series A Convertible Preferred Stock (the "Preferred Stock") with a liquidation preference of $15.75. Each share of the Preferred Stock was entitled to annual preferred dividends of $0.80 per share.

On November 3, 2015, the Series A Convertible Preferred Stock was redeemed for cash at a redemption price of $15.75 per share, plus an accrued dividend of $0.04 per share, for a total of $15.79 per share. There were 8,288,098 shares of Preferred Stock redeemed under the mandatory redemption for approximately $130,538,000. As of November 3, 2015, the Preferred Stock is no longer deemed outstanding, and all rights with respect to such stock ceased and terminated, except for the right of the holders to receive payment of the redemption price, without interest. The funding of the Preferred Stock redemption was provided by the Company's cash on hand and borrowings under the credit facility of approximately $110,000,000.

In lieu of redemption, the holders of the Preferred Stock could have converted any or all of their shares into shares of the Company's common stock. The holders electing to convert their Preferred Shares received 0.24204 shares of common stock for each Preferred Share, together with the cash payable with respect to fractional shares. There were 2,548

561 shares of preferred stock that were converted into 616

757 shares of the Company's common stock during the 2015 year.