Chemtrade Logistics Income 6 50 Convertible Unsecured Subordinated Debentures T.CHE.DB.E

RE:RE:For the record Sclarda2...

[Kherson]

My initial interest in Chemtrade was when they took over Canexus at what I felt and still feel was an inflated price. Shortly thereafter, the CEO gets a 5 year Long Term Incentive Bonus in which he actually collects almost all of it, even though the unit price tanks and the distribution is cut in half. 
The Incentive Bonus I believe turned out to be a big mistake on the part of the Trustees and gave me the inspiration to dig deeper into the inner workings of the Trust and more importantly for Unitholders, the Executive Compensation plans for the executive team. 
The reality of the average investor in Chemtrade is that very few take the time to read or understand the Management Information Circulars, let alone the Annual Information Forms. 
As you know bttmfischer, I have at most times backed up my views with facts and references directly from the very material that Chemtrade releases due to public disclosure requirements. What is obvious is that no one else seems to be taking the time to properly digest this information, hence the surprise and angry reactions to some of my posts. 
I actually did believe that Chemtrade's excessive Executive Compensation plans would improve after unitholders turned down the "say on pay" proposals three years ago, but it looks like I was wrong. For example, part of the Annual Incentive Award is based on Individual Goals and Shared Objectives, which include ESG goals. For 2023, the executive team received a performance factor of around 140%. The problem that I see here is that on p.21 of the AIF, Chemtrade clearly states that they did not achieve their SIF's target for employees and contractors, (mainly) due to a fatality, yet they state in the MIC that they achieved the "best safety performance in the history of Chemtrade"! 
Kherson