And one of the issues I don't like at all is that
Post# of 154089
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Posted On: 03/03/2020 10:01:07 AM
And one of the issues I don't like at all is that the BOD granted themselves performance bonuses based on BTD being approved within 6 months.
I am critical of the management team being given that "lottery ticket" that is taking from the shareholders (i.e. good management does not yield BTD -- only a successful product does and that should be to the benefit of the shareholders). Management should be incentivized by the things they can control, which should be in their annual performance plans and standard incentive package.
But giving the BOD the performance bonus, takes the inappropriate behavior to a new level. The BOD has no role in the BTD. At least management has to fill out the paperwork (or pay Amarex to do so). This is simply a give-away. And it certainly violates their fiduciary responsibility to the shareholders. I would not be surprised at all if that same investor (I can't remember the name of the legal entity off the top of my head) who previously sued and won a settlement on behalf of the shareholders against the company for an inappropriate incentive plan -- does so again (if they are still an investor). [This suit was disclosed in SEC filings, so bashers, please look it up vs. slinging mud.]
I am critical of the management team being given that "lottery ticket" that is taking from the shareholders (i.e. good management does not yield BTD -- only a successful product does and that should be to the benefit of the shareholders). Management should be incentivized by the things they can control, which should be in their annual performance plans and standard incentive package.
But giving the BOD the performance bonus, takes the inappropriate behavior to a new level. The BOD has no role in the BTD. At least management has to fill out the paperwork (or pay Amarex to do so). This is simply a give-away. And it certainly violates their fiduciary responsibility to the shareholders. I would not be surprised at all if that same investor (I can't remember the name of the legal entity off the top of my head) who previously sued and won a settlement on behalf of the shareholders against the company for an inappropriate incentive plan -- does so again (if they are still an investor). [This suit was disclosed in SEC filings, so bashers, please look it up vs. slinging mud.]
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