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6. Investment in Securities
 12 Months Ended
Dec. 31, 2017
Investment In Securities  
6. Investment in Securities

As of December 31, 2017, the Company, through its wholly-owned subsidiary, held approximately 1.3 million shares of Iteris, Inc. (Nasdaq: ITI) (“Iteris”).  At December 31, 2017, the corresponding unrealized gain of approximately $2,257, net of tax of $2,428, is included in accumulated other comprehensive income as a separate component of stockholders’ equity.  There was no impact to the Company’s consolidated statements of operations. 

 

On July 29, 2016, the Company, one of the Company’s significant stockholders, and certain of their affiliates entered into an agreement with Iteris. Pursuant to the agreement, a Director of the Company, who is an executive, co-founder and partner of the significant stockholder that is party to the agreement, was appointed to the Board of Directors of Iteris. 

 

The significant stockholder of the Company did not stand for re-election to the Iteris Board of Directors. As of November 8, 2017, the date of Iteris’ annual meeting of stockholders, the significant stockholder of the Company was no longer a member of the Iteris Board of Directors.