RE:very sad how an interim CEO can destroy shareholder equityThe following is an excerpt from a May 13th SEDAR posting. If Jones doesn't perform it will be costly for him. CEO has Strong Alignment with All Shareholders
Equity has entered into an employment agreement with Mr. Jones, which ensures a strong alignment between Mr. Jones and the interests of shareholders while he is employed as the CEO. His arrangements include:
• The obligation for Mr. Jones to hold a minimum of three times his annual salary in equity and/ or long term incentive compensation programs tied to stock performance; and
• A performance conditioned stock option grant of 330,000 shares, vesting over a 3 year period subject to share price floors of of $15, $20 and $25, respectively.