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Message: Cynical Compensation

Just checked SEDI for giggles (and maybe a few clues about trading volume, etc. Thanks, Narmac!).

Don was just compensated with 500,000 additional shares.  

I'm old enough to remember the AGM where he solemnly announced that his current compensation was "zero". I was even a little moved by the gesture. Sure, it has seemed like he's absolutely in over his depth and has no idea how to move the company forward, but at least it was an indication that he's not just bleeding the company dry with a fat paycheck until the lights cut out.

The shares are approximately worthless right now, but just imagine if the company achieves anything approximating its true worth. What Don was just granted represents 7% of his overall holdings in the company (7 million shares and change after this batch). How much will those half million shares cost every other diluted share holder if this pays out?  And the cynical part of it is that at that point, nobody will bat an eye.

Sigh. At least he's betting on himself?

The end will be merciful.

3
Jul 21, 2023 10:52AM
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Jul 21, 2023 11:40AM
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