https://web.tmxmoney.com/article.php?newsid=7533486256693180&qm_symbol=PTK

I am happy about the reduced cash expenses for the directors:

"Director Compensation

In an effort to reduce cash expenses, and following a review of peer group companies, the POET Board of Directors recently revised its compensation. This included reducing the cash compensation paid to its Executive Chairman, and effective April 1, 2017, eliminating per-meeting fees and reducing the annual cash retainer paid to directors. In the recent past, the demands on the Board to address key strategic and operating challenges resulted in frequent and numerous meetings, with per-meeting fees representing a substantial portion of total director compensation. In the newly-adopted program, the Executive Chairman is paid US$200,000 annually. The annual cash retainer for each director is reduced to US$30,000 and each committee chairperson receives an additional annual retainer of US$10,000. The balance of director compensation is paid in stock options at a value of US$90,000 annually, plus US$10,000 per year in value of options to each committee chairperson. The valuation of options grants is based on the Black-Scholes option pricing model. The awarded stock options for directors vest quarterly in arrears over one year to match the period of service provided by each director.

Options Grant

At the meeting of the Board of Directors following the AGM, as part of the Company’s incentive stock option grant program, options were granted to certain directors, officers and employees of the Company to purchase up to an aggregate of 9,225,000 common shares, representing approximately 3.55% of the outstanding shares of the Company.

The options are exercisable for 10 years at a price of CAD$0.28 (US$0.22) being the closing price of the Company’s shares on July 12, 2017.  The directors’ options vest quarterly in arrears over the one year of service as a director until the next Annual General Meeting. All other options granted to employees and management vest 25% on the first anniversary of the grant and the balance vests quarterly over a further three-year period thereafter.  The grant to the directors represents the option portion of directors’ fees for the 15-month period from April 1, 2017, when the cash fees were reduced, through the next AGM to be scheduled in approximately one year from the present.

The options were granted subject to provisions of the Company’s stock option plan and are subject to the TSX Venture Exchange policies and applicable securities laws. For further details on the Company’s share capital, refer to the Company’s Financial Statements and MD&A for the 3-months ended March 31, 2017 which were filed on SEDAR on May 11, 2017."