12.	Restructuring

During the three months ended March 31, 2016, the Company announced the departure of three Executive Vice Presidents in an effort to re-align the senior leadership team to reflect the changing needs of the business and to provide greater emphasis on the Company’s key areas of focus, and also the resignation of the President and Chief Operating Officer. The Company incurred $1.2 million in net restructuring costs in Selling, General, and Administrative expense associated with the separation agreements for these four individuals. This includes a $177 thousand reversal of costs accrued in 2015 for shares of restricted stock that were granted in connection with the 2015 bonus plan and were forfeited per the terms of the severance agreement.

The following table summarizes the severance accruals incurred as of March 31, 2016, excluding the reversal of prior year stock accrual:

Ending accrued balance as of December 31, 2015	$	-
Charges incurred during the period		1,343
Payments during the period		(100)
Ending accrued balance as of March 31, 2016	$	1,243