Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v2.4.0.8
Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2014
Equity [Abstract]  
Summary of Changes in Stockholders' Equity

The following table summarizes the changes in our stockholders’ equity for the three months ended March 31, 2014 (dollars in thousands):

 

     Preferred
Stock		      Senior Common
Stock		      Common
Stock		      Capital in
Excess of
Par Value		      Notes
Receivable
from Employees		     Distributions in
Excess of
Accumulated
Earnings		     Total
Stockholders’
Equity		  

Balance at December 31, 2013

    $ 2       $ —         $ 16       $ 298,751       $ (375 )    $ (115,248 )    $ 183,146   

Issuance of senior common stock and common stock, net

      —           —           —           7,243         —          —          7,243   

Distributions declared to common, senior common and preferred stockholders

      —           —           —           —           —          (7,025 )      (7,025 ) 

Net loss

      —           —           —           —           —          (13,514 )      (13,514 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

Balance at March 31, 2014

    $ 2       $ —         $ 16       $ 305,994       $ (375 )    $ (135,787 )    $ 169,850   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  
Dividends Declared

Our Board of Directors declared the following distributions per share for the three months ended March 31, 2014 and 2013:

 

     For the three months ended March 31,  
     2014      2013  

Common Stock

    $ 0.38       $ 0.38   

Senior Common Stock

      0.26         0.26   

Series A Preferred Stock

      0.4843749         0.4843749   

Series B Preferred Stock

      0.4688         0.4688   

Series C Preferred Stock

      0.4453         0.4453   
Summary of Outstanding Note Receivable from an Employee for the Exercise of Stock Options

The following table is a summary of the outstanding note receivable from an employee of the Adviser for the exercise of stock options (dollars in thousands):

 

Date Issued

    Outstanding Balance
of Employee Loan
at March 31, 2014		      Outstanding Balance
of Employee Loan at
December 31, 2013		      Maturity Date
of Note		      Interest Rate
on Note		  

Nov 2006

    $ 375       $ 375         Nov 2015         8.15 %