Management Information Circular (not included)In the proxy package mailout (at least with what was mailed to me). Here's something interesting from that circular (on SEDAR):
Material Terms of Incentive Plan, as amended and restated
Following approval, the material terms of the Incentive Plan, as amended and restated, will be as follows:
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The Common Share reserve is a fixed aggregate maximum of 15% of the outstanding Common Shares as of May 14, 2021 pursuant to the Incentive Plan as amended and restated on May 14, 2021, being 38,746,536 Common Shares allocated in reserve as: (i) a maximum of 7,749,307 Common Shares for issuance upon conversion of DSUs pursuant to the DSU Plan; and (ii) the balance of 30,997,229 Common Shares for exercise of Options granted pursuant to the Option Plan.
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The maximum number of Common Shares that may be issued under the Incentive Plan, as amended, and pursuant to all of the Corporation’s security-based compensation arrangements is increased to the new aggregate maximum of 38,746,536 Common Shares, and is subject to the following limitations:
(This doesn't format correctly when pasting...so go have a look)
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The Incentive Plan is administered by the Board with input from the Compensation Committee.
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Options may be granted to Directors, Officers, Employees, Management Company Employees, Consultants or
Company Consultants (as such are defined in TSXV policies and referred to in the Incentive Plan, as amended).
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DSU awards may be granted to directors and officers but the Board has discretion (without further shareholder approval) to expand awards to other eligible participants, including Employees, Management Company Employees, Consultants or Company Consultants (as such are defined in TSXV policies).
We all get to have our vote (#4) on the Amend and Restate Incentive Plan Deferred Share Unit Component. I suggest having a
close look. I won't get into the implications of the way compensation is structured here, but it doesn't take a genius to figure out that "long term thinking" is a relative term, and who in the end would want to get their compensation in shares, in salary, or...be able to string this idea along for as long as possible, if that enriched you (personally) the most.
DF