Alberta Ltd. during 2015 and 2014, respectively. Valard also entered into two transactions in 2015 to purchase two temporary camp housing facilities from 964125 Alberta Ltd. for an aggregate
purchase price of $324,405. Valard occasionally secures from Bram Consulting Ltd., a corporation whose shares are held by one of Victor Budzinskis siblings, certain supervisory services, consisting of a distribution construction foreman, at an
hourly rate, and the lease of certain personal property, including a
track-hoe,
at a monthly rate, resulting in payments by Valard to Bram Consulting Ltd. during 2014 in the amount of $62,924.
During 2014, Valard also entered into two transactions with Westcan Tel Ltd. (Westcan), a Canadian company owned by the spouse of
Victor Budzinski. Specifically, Valard purchased heavy equipment, vehicles and other related equipment from Westcan for $3,596,460 and entered into a subcontract arrangement pursuant to which Valard performed services for Westcan and received
payments in the amount of $2,199,796.
Additionally, certain of our subsidiaries employed (i) Victor Budzinski and paid him an
aggregate of $372,956, $362,854 and $925,047 in salary, bonus, health and welfare coverage and retirement plan contributions in 2016, 2015 and 2014, respectively; (ii) Adam Budzinski, the son of Victor Budzinski, and paid him an aggregate of
$434,348, $322,991 and $925,547 in salary, bonus, health and welfare coverage and retirement plan contributions in 2016, 2015 and 2014, respectively; (iii) Maureen Budzinski, the sister of Victor Budzinski, and paid her an aggregate of
$137,233, $132,747 and $170,850 in salary, bonus, health and welfare coverage and retirement plan contributions in 2016, 2015 and 2014, respectively; (iv) Alexander Budzinski, the son of Victor Budzinski, and paid him an aggregate of $126,696,
$127,564 and $128,199 in salary, bonus, health and welfare coverage and other compensation in 2016, 2015 and 2014, respectively; (v) William Budzinski, the brother of Victor Budzinski, and paid him an aggregate of $133,666 and $125,631 in
salary, bonus, health and welfare coverage and retirement plan contributions in 2016 and 2015, respectively; and (vi) Michael Budzinski, the brother of Victor Budzinski, and paid him an aggregate of $140,162 in salary, bonus, health and welfare
coverage and retirement plan contributions in 2015.
In addition, we granted (i) 12,103 restricted stock units (RSUs) with a
grant date fair value of $265,177, 8,175 RSUs with a grant date fair value of $226,202 and 2,572 RSUs with a grant date fair value of $91,203 to Victor Budzinski in 2016, 2015 and 2014, respectively; (ii) 10,758 RSUs with a grant date fair value of
$235,708, 7,267 RSUs with a grant date fair value of $201,078 and 2,204 RSUs with a grant date fair value of $78,154 to Adam Budzinski in 2016, 2015 and 2014, respectively; and (iii) 705 RSUs with a grant date fair value of $16,205, 1,115 RSUs with
a grant date fair value of $32,134 and 946 RSUs with a grant date fair value of $31,227 to Maureen Budzinski in 2016, 2015 and 2014, respectively. The RSUs were granted on the same terms and conditions as RSUs granted to other Canadian employees.
Each of the awards granted were subject to vesting in three equal annual installments. The employment of Victor Budzinski, Adam Budzinski, Maureen Budzinski and Alexander Budzinski, as well as William Budzinskis service as an independent
contractor for Valard, predated the Valard Acquisition, and William Budzinski was hired as an employee in 2014.
All amounts associated
with Valard and its affiliates, other than the grant date fair value of RSU awards, were paid in local (foreign) currency. The amounts reflected above represent the U.S. dollar equivalent of the aggregate amounts, based on the spot exchange rate for
such foreign currency to the U.S. dollar on December 31
st
of the applicable year, as reported by the Wall Street Journal.
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