Annual report pursuant to Section 13 and 15(d)

Note 11 - Accrued Expenses

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Note 11 - Accrued Expenses
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]
NOT
E
1
1
ACCRUED EXPENSES
 
Accrued expenses at
December
31,
include the following (in thousands):
 
   
2016
    
2015
  
Salaries and employee benefits
   $
2,695
    $
2,822
 
Accrued sales, property and other tax
    
265
     
202
 
Interest payable
    
6
     
9
 
Insurance payable
    
675
     
833
 
Other
    
453
     
475
 
Total accrued expenses
   $
4,094
    $
4,341
 
 
The Company had an individual Management Incentive Plan (“MIP”) for each of our Chief Executive Officer (“CEO”), Chief Financial Officer (“CFO”) and Chief Operating Officer (“COO”) (who retired from the position of COO effective
September
30,
2016
and remained a part-time employee through
December
31,
2016,
at which time the COO retired from the Company), which awarded cash compensation based on achievement of certain performance targets for fiscal year
2015.
A total of approximately
$
214,000
(included in “salaries and employee benefits”) was accrued under the
three
MIPs for
2015
and was paid by the end of the
third
quarter of
2016.
No performance incentive payments were earned and accrued under any of the MIPs for
2016.