RE:RE:RE:I have been reading the documents..This is the key proposal pertaining to number.
"The Stock Option Plan currently provides for the issuance of up to 33,661,584 Common Shares to
participants. As of the Record Date, the Corporation has options to acquire up to 21,342,089 Common Shares outstanding pursuant to the Stock Option Plan and 8,625,990 Common Shares have been issued pursuant to options exercised since the last shareholder approval, leaving a total of 3,693,505 additional options that may be granted pursuant to the current Stock Option Plan as of the Record Date."
"As a result, it is proposed that the Corporation’s option pool be amended with effect as of November 21, 2023 to increase the size of the pool as of that date to 32,945,521, being equal to 20% of the issued and outstanding shares of the Corporation as of the Record Date."
So, what is the net ask taking into account which options in the past have and have not been exercised?
This almost makes it sound like 32.9 million are in addition to 33.6 million so the past and current option plans will allow for 65 million shares being issued at market price for a risk-free term of 5 years.
I am all for rewarding DESERVING employees for their performance, but it has to be at targets that recognize that shareholders have been rewarded as well.
I am personally not a fan of how this Board had managed these options in the past....everyone got them, they got them at cheap terms because the share price was cheap (i.e. we, shareholders, have not gotten any return on our investment) and many were not in the money. And at this point, I would not like to give this Board, the same Board as at the last AGM with no changes made as they indicated they would, another booklet of blank checks.