Red, Did you review the Form 4s with Rory.
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Posted On: 07/07/2023 3:23:32 PM
Red,
Did you review the Form 4s with Rory.
FYI, for everyone here, I think management needs to be held to task here. If you look at the annual meeting filing it shows 46 million shares eligible for management compensation. This does not appear to be adjusted for the reverse split. It is concerinng to me that a company with a little more than 4 million shares outstanding would still have and addtional 46 million shares for mangement comp--10x the the outstanding shares.
If you look at the recent Form 4s, Rory is going to receive 568,000 options and Jimmy 162,000. In total dollar terms, in normal times, this would be reasonable. However, the shareholders have been wiped out 99.9%. Based on the new share structure, Rory is now back to owning almost 20% of the new company while the rest of us have been wiped out. If VERB 2.0 does well, he will be made more than whole but not us. The independent compensation company appoved the compensation plan prior to the share price collapse. It needs to be revisited IMO.
My suggestion would be that the Form 4s be rescinded. We wait and see, how the stock does over the next 1 year, and then award. Honestly Rory and Jimmy need to be working for free after what happened here.
Anybody who finds any of my numbers wrong, please let me know. I think they are correct.
Did you review the Form 4s with Rory.
FYI, for everyone here, I think management needs to be held to task here. If you look at the annual meeting filing it shows 46 million shares eligible for management compensation. This does not appear to be adjusted for the reverse split. It is concerinng to me that a company with a little more than 4 million shares outstanding would still have and addtional 46 million shares for mangement comp--10x the the outstanding shares.
If you look at the recent Form 4s, Rory is going to receive 568,000 options and Jimmy 162,000. In total dollar terms, in normal times, this would be reasonable. However, the shareholders have been wiped out 99.9%. Based on the new share structure, Rory is now back to owning almost 20% of the new company while the rest of us have been wiped out. If VERB 2.0 does well, he will be made more than whole but not us. The independent compensation company appoved the compensation plan prior to the share price collapse. It needs to be revisited IMO.
My suggestion would be that the Form 4s be rescinded. We wait and see, how the stock does over the next 1 year, and then award. Honestly Rory and Jimmy need to be working for free after what happened here.
Anybody who finds any of my numbers wrong, please let me know. I think they are correct.
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