Pourhassan's compensation package is outrageous an
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Posted On: 08/21/2019 12:11:43 PM
Pourhassan's compensation package is outrageous and unacceptable!
Although I believe in the science, and am very heavily invested in the company, I am deeply offended by Pourhassan's $1.521 compensation package.
To add insult to injury, Pourhassan's compensation package was increased from $966K in 2018 to over $1.5M, an increase of more than 50%.
In the meantime, Cytodyn is struggling to keep the lights on, having to do toxic Paulson financing deals, despite Pourhassan promising, time and again, that non-dilutive financing was imminent.
There is no justification in my mind for such a rich compensation package, or the year-over-year increase of more than 50%, while the company struggles with its finances.
I will not get into Pourhassan's competence, or lack thereof.
Suffice it to say, he has broken far more promises than he has kept, and does not, in my opinion, present well on behalf of the company.
Adding to my disgust is that Pourhassan has not used his lavish compensation package to purchase one share of stock on the open market. In the meantime, he preaches about how the share price is much too low, and will soon rise to great heights. If Pourhassan truly believes this, he should put his money where his mouth is, and buy some stock.
Finally, I cannot help but wonder if the director, who was head of the audit committee, resigned over a dispute as to Pourhassan's compensation package. If not, we deserve an explanation for why he resigned, just as we deserve an explanation as to why Dr. Pestell was terminated for cause.
It truly bothers me to have to call out our CEO, as Cytodyn is a very significant investment for me.
However, I am disgusted that the company would waste our money by overpaying the CEO who is not only unqualified for the position, in my opinion, but who chooses not to invest any of his lavish salary in the company by purchasing its stock.
In spite of this, I remain optimistic that the science will ultimately prevail, but regret we are being held back by an overpaid and under qualified CEO.
My strong suggestion to my fellow shareholders is to make it known to the board that we strongly disapprove of paying Pourhassan over $1.5M while the company is struggling to pay its bills, and has to resort to toxic dilutive financing to pay Pourhassan's exorbitant compensation.
LM
Although I believe in the science, and am very heavily invested in the company, I am deeply offended by Pourhassan's $1.521 compensation package.
To add insult to injury, Pourhassan's compensation package was increased from $966K in 2018 to over $1.5M, an increase of more than 50%.
In the meantime, Cytodyn is struggling to keep the lights on, having to do toxic Paulson financing deals, despite Pourhassan promising, time and again, that non-dilutive financing was imminent.
There is no justification in my mind for such a rich compensation package, or the year-over-year increase of more than 50%, while the company struggles with its finances.
I will not get into Pourhassan's competence, or lack thereof.
Suffice it to say, he has broken far more promises than he has kept, and does not, in my opinion, present well on behalf of the company.
Adding to my disgust is that Pourhassan has not used his lavish compensation package to purchase one share of stock on the open market. In the meantime, he preaches about how the share price is much too low, and will soon rise to great heights. If Pourhassan truly believes this, he should put his money where his mouth is, and buy some stock.
Finally, I cannot help but wonder if the director, who was head of the audit committee, resigned over a dispute as to Pourhassan's compensation package. If not, we deserve an explanation for why he resigned, just as we deserve an explanation as to why Dr. Pestell was terminated for cause.
It truly bothers me to have to call out our CEO, as Cytodyn is a very significant investment for me.
However, I am disgusted that the company would waste our money by overpaying the CEO who is not only unqualified for the position, in my opinion, but who chooses not to invest any of his lavish salary in the company by purchasing its stock.
In spite of this, I remain optimistic that the science will ultimately prevail, but regret we are being held back by an overpaid and under qualified CEO.
My strong suggestion to my fellow shareholders is to make it known to the board that we strongly disapprove of paying Pourhassan over $1.5M while the company is struggling to pay its bills, and has to resort to toxic dilutive financing to pay Pourhassan's exorbitant compensation.
LM
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