Stockholders' Equity

3 Months Ended

Mar. 31, 2017

Stockholders' Equity [Abstract]

Stockholders' Equity

13. Stockholders’ Equity

Our authorized capital stock consists of 100.0million shares of common stock, par value $0.01 per share, and 50.0million shares of preferred stock, par value $0.01 per share. As of March 31, 2017  and December 31, 2016, there were 22.3million and 21.6 million shares of common stock issued and outstanding, respectively, inclusive of the restricted common stock issued.  

We issued 0.2 million shares of common stock related to the vesting of restricted stock awards during the three months ended March 31, 2017.  We had reserved a total of 1.8 million shares of our common stock for issuance under our First Amended & Restated 2013 Long-Term Incentive Plan, of which, 0.5 million shares remain available for issuance as of March 31, 2017.

On November 7, 2016, we entered into a Distribution Agreement (which we refer to as the “Distribution Agreement”) with J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Citigroup Global Markets Inc. (which we refer to collectively as the “Sales Agents”), relating to our common stock.  Under the Distribution Agreement we are authorized to offer and sell shares of our common stock having an aggregate offering price of up to $50.0 million from time to time through any of our Sales Agents in “at the market” offerings.    During the three months ended March 31, 2017, we sold and issued 0.6 million shares of our common stock under the Distribution Agreement, which provided net proceeds to us of $15.0 million.