RE:HmmmmI am glad we are on the same page in terms of the lack of board ownership. Have you, or do you plan to, bring this up with them? The fact that we are at these lows and the new board members aren't even close to hitting the Share Holding targets is ludicrous
SPCEO1 wrote: Officers and board members have seen sizable option grants from the past expire worthless this week. So, they are feeling at least some of the pain we are feeling as a result of the stock price’s fall.
Total compensation for all the officers fell in 2019 versus 2018, mostly due to significantly reduced option grants. But the cash portion of their compensation actually increased, which seems ill-advised from my perspective given the stock’s very poor performance in 2019.
Overall, proxy circular left me somewhat irritated. While total compensation fell and older option grants expired worthless, cash compensation increased and some board members have little or no shareholdings. This is out of whack with the performance of the stock in 2019. Now, it is demonstrably true that the company is significantly better off now than at the beginning of 2019, but if management is not able to translate that improvement into a better stock price, there should be a bigger penalty than just reduced option grants. And certain new board members need to buy some shares in the company to exhibit a proper support for the company and to get in line with company policy as well.