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Related Party Transaction
6 Months Ended
Jun. 30, 2018
Related Party Transactions [Abstract]  
Related Party Transaction
Related Party Transaction
 
During the three months ended June 30, 2018 and 2017, Steven C. Jones, a director, officer and shareholder of the Company, earned approximately $41,000 and $52,000, respectively, for consulting work performed in connection with his duties as Executive Vice President and for reimbursement of related expenses. During the same periods, Mr. Jones also earned $12,500 and $12,500, respectively, as compensation for his services on the Board. During the six months ended June 30, 2018 and 2017, Mr. Jones earned approximately $87,000 and $118,000, respectively for consulting work performed in connection with his duties as Executive Vice President and for reimbursement of related expenses. During the same periods, Mr. Jones also earned $25,000 and $12,500, respectively as compensation for his services on the Board.

On June 1, 2018, the Company granted stock options and restricted stock to each of its Board members as part of its annual Board compensation process. Mr. Jones was granted 3,017 stock options and 6,897 shares of restricted stock for his services on the Board. The options were granted at a price of $11.60 per option and each option had a fair market value of $3.74. The options vest on June 1, 2019. The restricted stock has a fair value of $11.60 per share and vests on June 1, 2019.