Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.19.1
Related Party Transactions
 12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
Related Party Transactions Note 10 - Related Party Transactions
Consulting Agreement
On December 31, 2013, Robert L. Parker, Jr., our former Executive Chairman, retired as an employee of the Company. Mr. Parker continued to serve as Chairman of the Company’s board of directors until the annual meeting of stockholders held in 2014, at which time Mr. Parker was elected to the board for a three-year term. In 2017, he was re-elected to another three-year term and Mr. Parker has continued to serve as a member Chairman of the Company’s board of directors since then. Mr. Parker was paid $0.3 million in 2017 in exchange for his agreement to provide additional support to the Company when needed in matters where his historical and industry knowledge, client relationships and related expertise could be of particular benefit to the Company’s interests. No such payments were made in 2018.
Other Transactions
During 2015 we purchased the legal rights to certain rental tool software from two employees and a relative of the employees. As part of the purchase, we paid $0.1 million to each employee in January 2017. No such payments were made in 2018.
In 2015, one of our directors acquired $0.6 million aggregate principal amount of our 7.50% Notes and $0.7 million aggregate principal amount of our 6.75% Notes.