FYI-BeneficiariesMr. Huck;
With all due respect, its inherently contradictory to characterize it as "an error not to be repeated" while simulataneously suggesting the problem was "poor timing and/or execution"...the first acknowledges the decision was the problem, while the second suggests the decision was not wrong, just the way it was implemented...if you believe it was an error, then better timing or execution would not have changed the fact that it was an error...what happens when you make an error with good timing and execution anyway?...do you get a bigger and more successful error?
Anyway, 639,000 of the 1.2 million re-priced options granted at a 30 % discount from the price announced approx seven weeks earlier (July 17 to Sept 5) ....i.e. more than 53% of the benefit of the repricing, accrued to the six directors...and I'm prettttty sure most of them were not going anywhere anyway...
regards;
Sep 27/07 Sep 27/07 Younker, Richard Stewart Direct Ownership Common Shares 10 - Acquisition in the public market 8,000 $1.540
Sep 12/07 Sep 05/07 Davidson, Frederick William Direct Ownership Options 50 - Grant of options 150,000 $1.400
Sep 10/07 Sep 05/07 Sellmer, Hartmut Walter Direct Ownership Options 50 - Grant of options 75,000 $1.400
Sep 10/07 Sep 05/07 GORZYNSKI, George Arthur Direct Ownership Options 50 - Grant of options 150,000 $1.400
Sep 10/07 Sep 05/07 Mazur, Richard James Direct Ownership Options 50 - Grant of options 75,000 $1.400
Sep 09/07 Sep 05/07 Younker, Richard Stewart Direct Ownership Options 50 - Grant of options 75,000 $1.400
Sep 07/07 Sep 05/07 TANAKA, VICTOR AKIRA Direct Ownership Options 50 - Grant of options 75,000 $1.400