RE:RE:RE:RE:RE:Generating Value for Unitholders (LOL...) p.39Kherson__when I said BOGUS__I meant that YOUR Interpretation and Posting presentation
as usual was written to present the Most Negative status__in this case in particular the 49% DROP in the past 5 Years__as shown in the Chart you make reference to.
What You ARE overlooking is that about 90% of that 49% 5 Year Drop WAS the Result
of a ONE TIME Retention Payment made to 3 Execs in 2018__and this Payment IS
shown with a Hatch Pattern in the Chart__and IF You take off this One Time special
payment__then the Chart becomes Nomalized and TRACKS the S&P Index pretty much
the same over the Whole 5 Year Period.
So the Issue becomes whether the Board should have made that 2018 One Time Retention
Payment__NOT that there has been TERRIBLE Performance of 49% Drop.
GENERATING VALUE FOR UNITHOLDERS
Total return
The graph below compares the Fund’s cumulative total return over the past five years compared to the return of the S&P/TSX
Income Trust – Total Return Index and the S&P/TSX Composite – Total Return Index. It assumes $100 was invested on January
1, 2016 and that distributions or dividends were reinvested. The graph also shows total direct compensation paid to the named
executive officers over the same period.
From January 2016 to the end of December 2020 total unitholder return decreased by approximately 49% over the entire period.
Total compensation (see table 18 for summary compensation details) for the named executives over the same five-year period
increased by approximately 11%. The disconnect between the decrease in unitholder return and the modest increase in
executive compensation can be explained by a number of factors:
(i) as reported in last year’s information circular, total unitholder return and executive compensation were aligned up
until 2019. In 2020, the pronounced decrease in total unitholder return is indicative of the unusual year that 2020
proved to be for Chemtrade and the impacts of the COVID-19 pandemic.
(ii) executive compensation in 2020 did reflect the decline in unit value: the executives received no payout under the
PMP component of the 2018 long-term incentive (see tables 9 and 11) and only 56% of grant value on the RSU
component (see table 10), with the result that the overall 2018 long-term incentive payouts ranged from 14% to
24% of grant value for the named executives.
(iii) the executives’ 2020 total compensation includes RSUs granted in 2020. The RSUs vest at the end of 2022 and
are paid in 2023. The value realized will depend on the unit price at the time.
(iv) the total direct
compensation amount in
2018 is significantly
higher due to retention
awards granted to three
named executives, as
disclosed in our 2019
management information
circular. The patterned
portion of the 2018 bar
identifies the amount of
total direct compensation
paid to the named
executives that year that
was made up of the
retention awards.
Kherson wrote: Red_Deer wrote: Kherson wrote: Red_Deer wrote: Hey KherSon__you need to Read MORE aboutTotal UnitHolder Return
Such as the Actual Definition of the term__and IN PARTICULAR 49% Compared to WHAT ???
Kherson wrote: Management Information Circular
Total Return
From January 2016 to the end of December 2020 total unitholder return decreased by approximately 49% over the entire period.
p.39 will answer your questions! That's why I included it in the Subject heading!
Kherson
Hey KherSon__I OF COURSE Have READ IT__and IT does NOT Answer the 2 BASIC
Question I ASKED !!!
So IF You SEE something on that Page which I have MISSED with regard to My
Questions__then PLEASE POST eh !!!!!!!!!
OtherWise TOTALLY Bogus and Out of Context WHAT You have Posted.
Red_Deer, the questions that you are asking are fully explained in the chart on p.39. Since you are calling the material that I posted from the Management Information Circular as being BOGUS, then I believe your issue is with Chemtrade's Investor Relations department and not me!
Kherson