This is definitely an important topic. Rather than rewriting my thoughts on the ESOP talked about in the latest 10K, here's what I wrote in this previous post.
Ziv Turner is not mentioned on Page 72 and I didn't see anywhere else where he was getting options from an ESOP. These plans are a common way to motivate top management to reach goals, often by several deadlines. We don't know the details of this ESOP plan, which doesn't concern me because the details are not normally disclosed to the public.
If I am mistaken and Ziv was slated 10,000,000 options in this latest 10K please correct me.
As for previous filings that I have researched, Ziv Turner was awarded 2,104,480 shares. So he owns those shares. Any restrictions on the shares are still in effect unless there are stipulations regarding that changing upon separating from the company. But the bottom line is that Ziv still owns his 2,104,480 shares and was not included in the ESOP they did in 2016.
Again, I am just trying to piece this info together and if I'm missing something please correct me.
From the 10K for year ending 12/31/15
Quote:I was glad to see more transparency in how the Officers will be compensated. It also makes me feel more comfortable to know that they have disclosed this ESOP set up during 2016 which awards them share options that are held by a trustee and vest after a period of two years. Why is this important to me? Because now it is transparent and clear that the top management will receive a lot of shares as described below and this is a serious driver and motivator for this management team to make serious strides forward and the better they do the higher the stock price will go and directly affect their payoff. It also motivates them to get the company and stock to a point where they can uplist. These kind of incentive programs are often used in companies to motivate the management team to perform and meet progress deadlines and goals.
The most important part to me is this:
(3) Under the Company’s 2016 ESOP, 10 million options were granted to Mr. Bignitz, 750,000 options were granted to Mr. De-Saban, and 7 million options were granted to Dr. Baruch and Mr. Sinai during 2016. Subject to the provisions of applicable Israeli laws, these options are held by a trustee and vest after a period of two years and, as a result, are not included in the above table.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS Back to Table of Contents
The table below provides information regarding the beneficial ownership of the common stock as of March 31, 2017, of (1) each person or entity who owns beneficially 5% or more of the shares of our outstanding common stock, (2) each of our directors, (3) each of the Named Executive Officers, (4) our directors and officers as a group and (5) certain employees of our subsidiary OWC. Except as otherwise indicated, and subject to applicable community property laws, we believe the persons named in the table have sole voting and investment power with respect to all shares of common stock held by them. Unless otherwise indicated below, the address for each beneficial owner listed is c/o OWC Pharmaceutical Research Corp., at 30 Shacham Street, P.O. Box 8324, Petach Tikva, 4918103, Israel.
Name of Beneficial Owner Shares of Common Stock Beneficially Owned (1) Percent of Class (2)
Mordechai Bignitz, Chief Executive Officer (3) 0 0 %
Shmuel De-Saban, Chief Financial Officer (3) 195,416 *
Dr. Yehuda Baruch, Chief Science Officer (3) 0 0%
All directors and executive officers as a group (3 persons) 195,416 *
Alon Sinai, COO and Interim CEO of OWC (3) 1,011,250 0.70 %
Yehuda Baruch, Director of Research and Regulatory Affairs for OWC (3) 2,120,000 1.46 %
* Less than one percent.
(1) Represents shares of common stock held as of March 31, 2017 plus shares of common stock that may be acquired upon exercise of options, warrants and other rights exercisable within 60 days of March 31, 2017.
(2) Based on 144,719,287 shares of our common stock outstanding as of March 31, 2017.
(3) Under the Company’s 2016 ESOP, 10 million options were granted to Mr. Bignitz, 750,000 options were granted to Mr. De-Saban, and 7 million options were granted to Dr. Baruch and Mr. Sinai during 2016. Subject to the provisions of applicable Israeli laws, these options are held by a trustee and vest after a period of two years and, as a result, are not included in the above table.
- 72 -
Read More: https://investorshangout.com/post/view?id=448...z4ekOZGpN5
Ziv Turner is not mentioned on Page 72 and I didn't see anywhere else where he was getting options from an ESOP. These plans are a common way to motivate top management to reach goals, often by several deadlines. We don't know the details of this ESOP plan, which doesn't concern me because the details are not normally disclosed to the public.
If I am mistaken and Ziv was slated 10,000,000 options in this latest 10K please correct me.
As for previous filings that I have researched, Ziv Turner was awarded 2,104,480 shares. So he owns those shares. Any restrictions on the shares are still in effect unless there are stipulations regarding that changing upon separating from the company. But the bottom line is that Ziv still owns his 2,104,480 shares and was not included in the ESOP they did in 2016.
Again, I am just trying to piece this info together and if I'm missing something please correct me.
From the 10K for year ending 12/31/15
Quote:ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS Back to Table of Contents
The table below provides information regarding the beneficial ownership of the common stock as of April 13, 2016, of (1) each person or entity who owns beneficially 5% or more of the shares of our outstanding common stock, (2) each of our directors, (3) each of the Named Executive Officers, (4) our directors and officers as a group and (5) certain employees of our subsidiary OWC. Except as otherwise indicated, and subject to applicable community property laws, we believe the persons named in the table have sole voting and investment power with respect to all shares of common stock held by them. Unless otherwise indicated below, the address for each beneficial owner listed is c/o OWC Pharmaceutical Research Corp., at 22 Shacham Steet, P.O. Box 8324, Petach Tikva, 4918103, Israel.
Name of Beneficial Owner Shares of Common Stock Beneficially Owned (1) Percent of Class (2)
Mordechai Bignitz, Chief Executive Officer 0 0 %
Shmuel De-Saban, Chief Financial Officer 195,416 *
Dr. Asaf Toker, Chief Science Officer 0 (3) 0%
All directors and executive officers as a group (3 pers ons) 195,416 *
Ziv Turner, Chief Executive Officer of OWC 2,104,480 2.58 %
Alon Sinai, Chief Operating Officer of OWC 1,011,250 1.24 %
Yehuda Baruch, Director of Research and Regulatory Affairs for OWC 2,120,000 2.60 %
Global Corporate Strategies LLC (4) 5,134,375 6.30 %
*
Less than one percent.
(1) Represents shares of common stock and shares of restricted stock held as of April 13, 2016 plus shares of common stock that may be acquired upon exercise of options, warrants and other rights exercisable within 60 days of April 13, 2016.
(2) Based on 81,460,875 shares of our common stock outstanding as of April 13, 2016.
(3) Does not include options to purchase 50,000 shares of common stock exercisable on July 18, 2016 and options to purchase 50,000 shares of common stock exercisable on January 18, 2017.
(4) The address of this shareholder is 3773 Cherry Creek North Drive, Suite 575, Denver CO 80209. Jeffrey Friedland is the Chief Executive Officer of Global Corporate Strategies LLC and in such position has voting and dispositive control over securities of the Company held by Global Corporate Strategies LLC.
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