Stock Options for SBB Directors and Officers Well, this Information Circular is quite a read - so in addition to the 24 months severance and bonuses, as noted on p. 51 of the IC the directors and senior officers of SBB currently hold SBB options exercisable for an aggregate of 5,725,000 SBB shares, at exercise prices ranging from $1.17 to $2.17 per SBB share - so virtually all "in the money" with some of them exercisable at only about 1/2 of the current share price. Then they all will receive an equivalent number of "replacement options" if the deal is approved, whereby they will be entitled to acquire 2,213,857 BTO shares at exercise prices ranging from $C3.03 to $5.61 per BTO shares. Then they will also receive compensation for any "RSU"s or "DSU" s they hold (as defined on pp 12 and 19 of the IC). Then the 24 months severance. I am sure there is even more buried somewhere in the 100 page IC that I haven't found yet!
It would be interesting to know (which of course we never will) how the senior officers and BOD are spending their days pending the vote - are they pouring over travel brochures, consulting personal financial advisors looking for advice on how to shelter all that money when it arrives, or are they still working on getting the mine built in the event that they all have to keep working if the vote fails? Meanwhile the rest of us have to tell our children that they may not be getting that new bike for Christmas...well, OK, its not quite that bad, but....!! Unbelievable.