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Related Parties (Tables)

12 Months Ended

Dec. 31, 2020

The Company’s Chief Executive Officer, its Executive Chairman, and its former Vice Chairman are directors of Tower Properties Company (Tower) and, together with members of their immediate families, beneficially own approximately 67% of the outstanding stock of Tower. At December 31, 2020, Tower owned 222,595 shares of Company stock. Tower is primarily engaged in the business of owning, developing, leasing and managing real property.

Payments from the Company and its affiliates to Tower are summarized below. These payments, with the exception of dividend payments, relate to property management services, including construction oversight, on three Company-owned office buildings and related parking garages in downtown Kansas City.


(In thousands)	2020		2019		2018

Leasing agent fees	$	—	$	154	$	133
Operation of parking garages	81		118		95
Building management fees	2,110		2,001		1,935
Property construction management fees	251		250		136
Project consulting fees	335		—		—
Dividends paid on Company stock held by Tower	229		210		181
Total	$	3,006	$	2,733	$	2,480