TSXV:WEE.H - Post by User
Post by
normanhouon Mar 20, 2015 10:00am
204 Views
Post# 23542624
question to Brett and response.
question to Brett and response. Norman, thank you for the email inquiry related to the recently granted options to management and directors of Wavefront. Given the nature of the comments I thought it best to have our Chair, Steve Percy, provide clarity for you. Below are Mr. Percy’s remarks.
I trust the above provides transparency on how the compensation committee of the board considered the options grants. We are always open to speak to any questions or concerns that you may have.
Have a good day.
Sincerely,
Brett Davidson
From: norman housley [mailto:norman.housley@utoronto.ca]
Sent: March-19-15 11:46 AM
To: Brett Davidson
Subject: Latest press release
Dear Brett,
This is an extract
“The Company also announces that it has granted, pursuant to the Company's Stock Option Plan, 900,000 incentive stock options to directors of the Company. The options will be exercisable at $0.12 per share, valid for a period of five years and subject to vesting and a 4 month plus one day hold period.”
I am somewhat surprised by this information. While I realise that being a Director is a substantial responsibility, Wavefront has a substantial set of shareholders, that have patiently held equity for a number of years. I think that we could agree, that the share price has not prospered for some time. I think that awarding the Directors with .12 options is unwarranted at this time. Maybe giving them $1.00 options would not be.
We shareholders look for future returns that are admirable. The Directors may have been patient as well but this award is too rich.
Any comments that you might have would be gratefully received.