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Related parties
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
Related parties
Related parties
The Company has agreements for certain contract manufacturing and engineering services with a vendor affiliated with one of the Company's investors. The Company made payments of $0.2 million, $12.2 million and $3.6 million in 2015, 2014 and 2013, respectively, for services rendered. As of December 31, 2015 and 2014, the Company had accounts payable associated with this vendor of zero and $0.1 million, respectively.
The Company incurs costs for company-related chartered aircraft fees for the use of the CEO’s private plane. The Company made payments of $1.0 million and $0.5 million in 2015 and 2014, respectively. As of December 31, 2015 and 2014, the Company had accounts payable associated with this vendor of $0.1 million and $0.4 million, respectively.
In May 2014, the Company amended the outstanding stock options granted to the former Chief Financial Officer to facilitate the net exercise of those options and subsequently repurchased 41,154 shares of common stock from the former Chief Financial Officer's estate at a purchase price of $18.40 per share.
In June 2014, the CEO purchased seven automobiles from the Company for a total purchase price of $0.3 million, which was equal to the deemed fair value of the automobiles purchased. There have been no additional such purchases in 2015.
In 2013, the Company entered into a three-year agreement, which was amended in August 2015, with a company affiliated with the son of one of the members of the Company's board of directors to acquire certain naming rights to a kart racing facility. As consideration for these naming rights, the Company would pay a total of $0.5 million over the three year period. As of December 31, 2015, the Company has made cumulative payments of $0.5 million and has also provided 100 GoPro capture devices at no cost each year.
In the second quarter of 2013, the Company settled an outstanding legal matter with one of the CEO's family members for $0.2 million and loaned one of its executive officers $0.2 million pursuant to a demand payment loan that did not bear interest, which was fully repaid in March 2014.
See Notes 5 and 6 above for information regarding CEO RSUs and common stock contributed by the CEO back to the Company.