April 1 Looks like as a result of shareholder concerns they actually created a 'profit pool' plan....Came into effect April 1, 2012.
This still does not change the fact that executives, with no oversight, approval or accountability decided to pay themselves a huge amount of shareholders money. To try to cover thier tracks, they have created the 'plan' after the fact with board participation.
Nice. They created a 'plan' after the fact to support something they did wrong previously. The right / ethical thing to do was to pay back ALL the 12.2 million and start fresh with a properly vetted and approved profit plan.
I hope thier feet get held to the fire by regulators.