I am by no means an expert on reading 8k's, but here's my take.
1) Only the independent directors of VERB (not Rory or other officers) recommended a 2020 compensation plan of some sort. They did not put the actual plan together. I could not find when the independent directors decided to do this. Was it in 2019 or 2020? I would tend to think it was in 2019. An independent director is a non-executive director of a company and helps the company in improving corporate credibility and governance standards.
2) Compensation Advisory Partners LLC (“CAP”) ”), a respected independent compensation consulting firm was retained (hired) to put this plan together [b]based on compensation with companies CAP identified as appropriate peer companies[/b].
3) On July 29th, the Board approved the 2020 compensation program based primarily on the recommendations made by CAP.
The rest of the 8k are the details of the plan.
So basically, non-executive (independent) directors (who were trying to improve the corporate credibility and governance standards) hired an independent firm (CAP) to help put together a compensation plan to reward both executive officers and board members that would be comparable to their peers. Now everyone can see one of the purposes of NASDAQ's requirement of having independent directors on the BoD. If you want to be on NASDAQ, then one must play the same rules as everyone else on NASDAQ. Plain and simple.
What? You mean VERB is getting treated like their NASDAQ peers? Who would have thought? Anyone who thinks this is something bad should never invest in another stock company imo.
This is just one more nail in the coffin for shorts & OTC bashers. So much for TinCan, Badbrew, Jobydumb, Sick Man and the others that want VERB back on the OTC. VERB is a real NASDAQ company.
Verb Technology Company, Inc (VERB) Stock Research Links