Me Simon’s Arrangement I'm sure most of you are aware of Mr Simons structure of pay, but if not...here you go
Mr. Simon’s arrangement, detailed in a shareholder proxy circular published on Tuesday, treats him as an independent contractor, paying him $500,000 annually for the CEO job and $600,000 annually to be chairman. He collected just under $400,000 for the partial year ended May 31.
The company gave him 1,038,419 stock options and 87,294 shares of stock, valued at $8.85-million. He also has an incentive plan that paid him $325,000, the company’s document shows.
One million of the stock options, granted in February, have an exercise price of $13.31. Aphria shares closed Wednesday at $6.41, meaning the stock needs to more than double for Mr. Simon to profit from them before the options expire in 2024.
Aphria told its shareholders it has a “payforperformance philosophy that is designed to attract, motivate and retain high-performing senior executives, encourage and reward superior performance, and align our executives’ interests with those of the shareholders.”