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Subsequent Events
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Subsequent Events

Restricted Stock

 

On April 2, 2012, the Company approved grants for a total of 95,000 restricted shares of the Company’s common stock (the “Awards”) to its executive officers and certain other employees. The Awards vest over periods up to two years as stated Award Agreements, and will accelerate in the event of a Corporate Transaction, as such term is defined in the Award Agreements. In the event a grantee’s relationship with the Company is terminated for any reason, vesting will immediately cease. These Awards are not part of the 2010 Equity Incentive Plan.

Common Stock Dividend

On April 2, 2012, the Company’s Board of Directors approved and declared a quarterly cash dividend of $0.03 per share. The dividend is payable May 3, 2012 to shareholders of record as of April 19, 2012.