Subsequent Events

12 Months Ended

Dec. 31, 2015

Note 15 – Subsequent Events

In January 2016, the Company granted a total of 5,599 shares of stock to the Board of Directors. The fair value of these grants is approximately $184,000.

In February 2016, the Company granted a total of 70,315 shares of restricted stock to employees and associates under the 2014 Plan. The fair value of these grants is approximately $2,625,000 and the restricted shares vest over a five year period based on continued service to the Company.

On March 1, 2016, the Company declared a dividend of $0.465 per share for the quarter ending March 31, 2016 for holders of record on March 31, 2016. The holders of OP Units are also entitled to an equal distribution per OP Unit held as of March 31, 2016. The amounts are to be paid on April 15, 2016.

There were no other reportable subsequent events or transactions.