RE:RE:RE:RE:BankruptI think people need to take what you say with a grain of salt sir. The following passage is taken from the Concordia's last management information circular.
"On each vesting date, the Corporation decides, in its sole discretion, whether to make all payments in respect of vested RSUs to the RSU Participant in cash, Common Shares issued from treasury or a combination thereof based on the fair market value of the Common Shares as at such date. For the purposes of the LTIP, the fair market value of a Common Share is the weighted average trading price of the Common Shares on the TSX for the 5 trading days immediately preceding the vesting date for a RSU or DSU Termination Date (as defined below) in respect of DSUs, as applicable"
NOIRISH wrote: And for the record, I do receive RSUs as well as options under a plan and although obviously not Concordia, I am not forced to cash either when they vest. So take what Lumber has said with a grain of salt when he says that they were forced to cash them on November 22nd, which coincidentally was the dae that the Bondholders said they lawyered up to force the company into Chapter 11 restructuring before they blow out of the cash they just received from the secured notes.
NOIRISH wrote: I know how RSU's work and they did not have to exercise them for cash on the vesting date. They could have held on them, no company forces you to cash out your RSU's upon vesting - as that has tax implications to employees and defeats the purpose if you have to cash them as soon as they vest. You can't exercise them for cash UNTIL THEY VEST, but there is nothing in the management circular issued at the last AGM that details that says you have to cash them on the vesting date (which is 6 months to a three year period after they were awarded). I agree with the poster who said that this is a bearish sign. And I also agree with previous posters who say that you can BELIEVE NOTHING that comes out of this managmenet including the money thay "say" they have. (Not that they are saying anything now, probably on advice of their legal counsel.)
No position. One held, but thankfully exited months ago when the CEO and Kupinsky started shuffling their shares to other business entities off shore.
Lumberfeverlong wrote: Do you even know how RSUs work? Upon vesting, which is dependent on time elapsing and sometimes performance metrics being met, the RSUs are paid out on the basis of the share price at the time of vesting or during a short period before vesting date. All of these insiders were paid out under the plan. It is not the bearish sign you are claiming to make it.
Shortingtozero2 wrote: All Insiders cashed their vested RSU's 2016-Nov-22 at CAD $4.3460
The same day that the Bondholders got Akin Gump to represent them.
This is Pure Gold. Equity is Zero.